The Balearic Islands' economy will grow by 4.1% this year, according to a report by BBVA’s Research Department. The report places the Balearic Islands among the regions whose growth will surpass the national average, calculated at 2.5%.
The report also backs up predictions of growth in Spain’s GDP in 2018 and expects this recovery to continue into 2019, with an average increase of 2.3%. In the Balearic Islands, growth for this year is predicted at 2.6%. This Regional Observatory confirms that the growth will be more homogenous among autonomous regions due to a greater stability of growth in Mediterranean regions, which have benefitted most thanks to the momentum of domestic demand and the surge in tourism.
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