The beginning of 2026 confirms the strong momentum of the construction sector in the Balearic Islands, with a sharp increase in the number of housing approvals during the first two months of the year. Between January and February, a total of 1,404 approvals were recorded, representing a 109.9% rise compared to the same period in the previous year, when 669 units were registered. This growth consolidates the upward trend observed in 2025 and positions construction as a key driver of regional economic activity.

This positive development builds on a sustained recovery already evident at the end of 2025, when figures reached their highest levels since 2009. The increase in approvals at the start of 2026 is also linked to streamlined administrative procedures, which have facilitated the launch of new residential projects.

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Housing approvals in the Balearic Islands surge by 109.9% in 2026, reinforcing construction sector growth

At the same time, the labour market continues to perform strongly, with social security affiliation reaching record highs. Employment growth has been recorded in both the general regime and among self-employed workers, highlighting the resilience of the local economy.

The tourism sector presents a mixed outlook. While the number of visitors declined in the early months of the year, total expenditure and spending per person increased, indicating higher value tourism activity. This trend helps sustain economic performance despite lower visitor numbers.

Meanwhile, the services sector has shown signs of recovery following a weaker start to the year, driven by strong performance in professional and administrative activities. This has resulted in a notable increase in turnover, exceeding the national average.

Inflation has also been influenced by international developments, with rising energy prices contributing to a renewed increase in overall price levels. This has interrupted the downward trend observed in previous months, placing inflation slightly above the national average.

Overall, the data point to a dynamic Balearic economy, characterised by a growing construction sector, a robust labour market and an adaptive response to evolving economic conditions.