Why Is Mallorca Prime For Investment?

Mallorca's business start-up and growth community

Why Is Mallorca Prime For Investment?

As an investor, there are many things to consider before you can commit your investment. Research and a thorough understanding of your proposed industry go without saying. The location should also be a deciding factor. When you make the decision to invest or to start a business, Mallorca is a prime location which is accessible for all.

A Nautical Hot Spot

Mallorca is one of the leading nautical destinations. The nautical industry can be very complex. But Mallorca’s first-class infrastructure is one of the best in the world. With access to designers, builders, engineers, and specialised sales staff. The water is clean, safe and has no dangerous tides, which can not be said for some of the other world destinations.

It is an accessible destination for all businesses. It is only, on average, a two-hour flight from most European capitals.

The International Palma Boat Show has become one of the best events in the industry. The 36th Boat Show was in Palma from April 27th to May 1st. It had record attendance, with 20% more visitors than last year.

Over 260 international exhibitors from around 25 countries presented at the Boat Show. The exhibition area was ​​around 82,000 square meters. It featured more than 600 boats, including 100 superyachts.

Opportunity To Invest And Transform

The Balears benefits from foreign tourism year after year. The arrival of international tourists to Spain has grown 55%, to reach 82 million visitors in 2017. Foreign tourism has driven the Spanish economy, after the banking crisis in 2008.

The BBVA Economic Observatory can see foreign tourism starting to slow down. They are forecasting a gradual depletion trend. But this is not doom and gloom for business owners and investors. In fact, it is quite the contrary, BBVA has stated that this is the perfect opportunity and time to invest, transform and gain competitiveness.

Spain is being urged to use this information. They now want to promote investment and training in new technologies. The importance of diversification is clear. The need to break away from the dependence of the Tourism industry presents new challenges. But also brings new and exciting opportunities.

Free Access To Business Statistics

Before making any decision, it is natural to find concrete proof. Information from existing businesses and relevant industries. Checking the statistics can give you the confidence to move forward.

A great resource is the Year Book of El Economico. This provides an information reference for business, economics, and tourism. The 3rd edition will be available free of charge on Friday, May 3rd with the Ultima Hora newspaper. On Sunday 5th it will be available Menorca, Ibiza, and Formentera on Sunday, May 5th.

The Yearbook which usually exceeds 200 pages, gathers all the statistics for the business, economy and tourism activity for 2018. It includes the opinions of more than 50 analysts and businesspeople of the Balears. It also details the business rankings for 2018. It shows companies with the highest turnover. Discusses the greatest benefits of the Islands.

Create A Business For The Future

The Balearic Islands continue to focus on Corporate Social Responsibility and working towards Sustainable Development Goals.

The Strategic Tourist Segments (SETS) is a new formula that has been created by Agència Estratègica de Turisme de les Illes Balears (AETIB) to promote the Balearic Islands.

The SETS are a strategy to enhance the diversification of the Balearics. To promote the Islands further than just holidays for tourists. At the moment, eight different Tourism Strategic Segments have been created and are currently in effect. These SETS relate to gastronomy, culture, active tourism, ecotourism, sports, health and well-being, luxury and MICE.

The SETS aim to promote public-private collaboration and private-private collaborations. Also, to establish quality standards for companies in the sector. The aim is to develop and promote sustainable tourism destinations and products, that favour the conservation of cultural and natural resources. Also to encourage reinvestment of tourism spending for the benefit of the Community.

Steps are also being taken to look at traditional business models. Cooperative work is started to be actively discussed and promoted. So that the individual becomes the main value to the business.

Corporate Social Responsibility could become an essential reality for businesses on the island. The potential of the cooperative sector, for the creation of new companies and jobs, is an interesting prospect for us all.

Sally Leslie

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