One restaurant owner has issued a stark warning
Restaurant owners in Majorca are feeling the pinch as tourists shun the once-popular holiday island. Juanmi Ferrer, president of the CAEB Restaurants Association, has described 2024 as a challenging year for the sector, stating: "2024 has been very tough for the sector. We calculate that they will treble and we don't rule out this forecast being exceeded."Profits have dropped from nearly 20% to between 6%-8%, which Mr Ferrer describes as the "best of cases".
"We can't serve a beer and a tapa for 1.50 euros as they do in some places on the mainland; here it is totally unviable. The price of food is increasingly higher. Rents have also risen a lot, so have the cost of electricity and the rubbish tax," reports the Express. Magaluf's economy is facing a tough time as the Majorcan party destination has seen empty tables at its normally bustling venues. A local bar owner remarked that the anti-tourist protesters' "wishes had been granted" after this summer's protests.
Data from Exceltur reveals that a significant 45 per cent of the Balearic Islands' income comes from tourism. This year, the Balearic Islands have seen the smallest rise in tourist numbers compared to other popular Spanish holiday spots.
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