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Areas General Services Economy and Treasury CES presents 2020 report on economy, jobs and society in Balearics

CES presents 2020 report on economy, jobs and society in Balearics

foto 2021 CESToday Ana Juan, President of the Consell de Formentera, and Bartomeu Escandell, Councillor of Economy and Finance, met at the head offices of local government for a presentation from Rafel Ballester Salvà, Chair of the Economic and Social Council (Consell Econòmic i Social, CES); Josep Valero, CES Secretary, and Ana Garau. Ballester, Valero and Garau's report focused on the economy, employment and society in the Balearic Islands in 2020. After the meeting, representatives of media outlets sat for a presentation as well.

President Juan began by calling the CES's work "essential" and said the independent body of participation and analysis "serves to offer an accurate picture of the current situation in the Balearics and helps us to rethink our future". The 2020 report emphasises "the highly seasonal nature of our economy and the significant summertime strain on Formentera" – strain which, she insisted, "is more acute than on any of the other islands". She offered, "These aspects should make us reflect on the path we have travelled and the future we want for the island".

The CES representatives described a report marked by the impact of COVID-19 on the region. As for data that speak to the economic outlook, the Balearic archipelago has been the most affected of all the regions of Spain. Gross value added (GVA) shrank 20.7%, tourism shrank 81% and spending on tourism fell 83.9%. Dependence on international tourism drove the Pine Islands' GVA down 24.6% – the most marked adjustment in the archipelago.

Compounding things further, at €11,275.50, Formentera's gross disposable income per capita was the lowest in the region: 28% below the Spanish average and 30% below the Balearic average.

On Eivissa and Formentera the service sector accounts for 71.1% of the total GVA – a higher proportion than elsewhere in the region (83% of Formentera companies registered with social security operate in the service sector).

The 80.3% drop in tourism on Eivissa and Formentera was very similar to that of the Balearic Islands as a whole. Differentiating by place of origin, in the Pine Islands, foreign tourism fell 87.8% and national tourism 50.1%.

Meanwhile, construction, which fell in 2020 in the Balearic Islands as a whole, increased on Eivissa and Formentera: by 0.8% in terms of construction permits and by 4.8% in terms of housing permits.

On the job market, social security registrations sagged 15.3% on Formentera – twice as much as across the archipelago. At 123.3%, Formentera's seasonality index rating outstrips all of its regional neighbours'.

From a demographical perspective, 28.69% of Formentera's population is foreign-born and 64.53% were born outside the Balearics Islands.

24 January 2022
Communications Office
Consell de Formentera

Find us at:
plaça de la Constitució, 1
07860 Sant Francesc Xavier
tel. 971 32 10 87 · fax 971 32 25 56

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Ministerio de Economía y Hacienda

Política Regional - Inforegio