Balearic Islands to reach 18 million visitors by 2023

We are closing an extraordinary year in the islands, in October this year already surpassing the figures of the most prolific annual years in the tourism industry: 700,000 more visitors than in the whole of 2022 or 2018 and 2,000 million generated.

According to information released by the Institut d'Estadística de les Illes Balears (Ibestat) through Frontur and Egatur, the archipelago experienced a total of 17.2 million arrivals and an estimated expenditure of 19.4 billion euros up to October. The notable years in terms of tourist arrivals, specifically 2022 and 2018, ended December with a cumulative total of 16.5 million tourists. In addition, last year was notable for registering record revenues for the sector, reaching €17.35 billion. The key to understanding this increase in profits is the rise in prices; if we compare the first ten months, arrivals have increased by around 8 %, while the increase in spending has been double that, at 15 %.

To put these figures in perspective, and to understand the scale of the phenomenon, we launch a couple of comparisons:

 1. Between 1960 and 1973 the Balearic Islands received 18 million tourists. In one year we have received as much as in the whole of the 1960s.

2. The islands accumulate approximately 20% of Spain's tourism, and in fact the Balearic Islands generate around 12% of the country's GDP, with just 5% of the population.

3. Mallorca is, according to EU statistics, the most tourist-intensive region in Europe by 2023.

4. If the Balearic Islands were a country, it would be number 13 in the ranking of the most visited countries in the world, on a par with such powerful tourist destinations as Croatia.

5. This year the Balearic tourism industry will have generated around 20 billion euros, which is equivalent to 15% of the Spanish public health budget.

Although the Islands have experienced an unprecedented increase in visitor arrivals, this increase has only accounted for half of the increase in turnover. In addition to the general price hike, with accommodation and transport leading the way, there is also the impact of the growth of luxury tourism, a growing segment that has contributed significantly to the increase in spending figures. Behind the luxury market is a new source market, the USA. Visits from the other side of the Atlantic play a crucial role, as they exceed a quarter of a million in the Balearics and show a considerably higher level of spending than traditional markets. These American visitors leave twice as much money per person compared to British or German tourists.