The Balearic Islands’ economy continues to show remarkable strength. During the second quarter of 2025, the region’s GDP grew by 3.2 %, twice the European Union average (1.6 %) and above Spain’s national rate (2.8 %). This marks the sixth consecutive quarter with growth above 3 %.

The First Vice President of the Government, Antoni Costa, and the Director General of Economy and Statistics, Catalina Barceló, presented the latest Economic Outlook Report in Ibiza, confirming solid performance across all productive sectors. Mallorca led the way with 3.2 % growth, followed by the Pityusic Islands (3.0 %) and Menorca (2.1 %).

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Balearic economy grows twice as fast as the EU and maintains strong momentum for the sixth consecutive quarter

“All sectors are growing robustly, although slightly more moderately than last year,” said Costa. The services sector remains the main driver of the economy, expanding by 3.3 %, while construction grew 2.3 %, industry 2.0 %, and agriculture 0.7 %.

The positive trend is also reflected in the labour market, with 639,122 registered workers in September — a 2.6 % annual increase, meaning 16,183 new jobs compared to 2024. Most of the new employment was in services (88 %), with construction and industry also recording solid gains.

Costa emphasised that “the Balearic Islands are growing twice as much in value as in volume,” highlighting that tourist spending reached €17.36 billion by August (+5.6 %). The average spending per visitor rose to €1,233 (+3.1 %) and daily spending per person to €202 (+5.4 %). “Our goal is to control volume while continuing to grow in value,” he added.

Meanwhile, Barceló noted that overnight stays moderated to 86.1 million, with the average stay slightly down (from 6.2 to 6.1 days). The human pressure index increased by 0.5 % in the first half of the year, while inflation remains one of the highest in Spain (3.3 % vs. 3.0 % national average).