Palma de Majorca, Balearic Islands » City Info » Economy

Palma is the capital city and is home to the major port on the island of Majorca, as well as being the capital city of the autonomous community of the Balearic Islands in Spain.

The city is experiencing continuous growth and development and plays an important role in the economy of the Balearic Islands. The city provides platforms for meetings, conferences, conventions with technological parks, hotels and other centres for people involved in business.

Palma has everything that anybody expects from a high flying commercial city.

As the city is well connected by air and sea with the rest of the world, it is the favourite meeting point for people coming from all over the world. Palma port receives large vessels from Spain and trades with many European countries, mainly with Germany, UK, France, Italy and Portugal. The Palma de Mallorca airport, Son Sant Joan, deals with a huge range of international flights and it is located on the outskirts of Palma. This airport is just as busy as some of the major city airports in mainland Spain and plays a major role in the Balearic tourism industry.

In recent years, tourism has began to be the main income source for local communities, since the economy of Palma de Mallorca is highly dependent on tourism.

Palma is Spain's premier tourism destination. Since the 1950s, it has attracted many visitors and contributed to a huge change in traditions, sociolinguistic map, urbanization and acquisitive power.

Tourism is helping Palma city as well as the rest of the island to grow significantly. The number of visitors is increasing day by day. In 1960 Mallorca received 500,000 visitors, while in 1997 it received more than 6,739,700 and in 2001 around 19,000,000 people visited Palma. Palma's airport handles millions of visitors each year and plays a major role in the Balearic's tourism industry.

Palma city provides the key success for business opportunities, and the fact that over 50% of Majorca’s population live in this city alone signifies its importance as being the main hub for commercial activity in the whole of the Balearic region.