When it comes to holidays, Mallorca has always been a favourite, particularly with Spanish, German, and English travellers. In fact, tourism is so important in the Balearic Islands that it makes up to 35% of their GDP. This makes it an attractive option for investors looking to move into the holiday rental market in Mallorca.
So, what does tourism in Mallorca look like now as restrictions lift and holidaymakers look to book their next trips?
For those looking to invest in holiday rental properties in Spain, the Balearic Islands are certainly a top place to consider.
In April 2021, the Balearic Islands launched the Tourism Revival Plan with a budget of 11 million euros. Speaking at the World Travel Market 2021 The Minister for Economic Model, Tourism and Work in the Balearic Islands, Iago Negueruela, explained:
“Thanks to this plan… for five consecutive months, we have been the leading destination in terms of arrivals, expenditure, and profitability (in Spain). We are the autonomous region that has recovered the most and best in the tourism industry during this time.”
A recent report by the government of the Balearic Islands (Govern Illes Balears) highlights new developments in Mallorca’s tourism industry, including the number of arrivals, where they are from, and where they go.
In September 2021, 1,497,903 tourists arrived in the Balearic Islands. That is 415% more than in September 2020 and 35% less than in September 2019.
It’s easy to see where tourists are headed, too. Of those almost 1.5 million tourists, 64% went to Mallorca. It makes sense, then, that most of the money spent by tourists was spent in Mallorca, too.
In terms of who is visiting the island, 39% of tourists who came to Mallorca in September 2021 were German, making it the biggest market.
The pandemic caused many to think back to the 2008 financial disaster, with memories of the rocky road to recovery and long-lasting effects not yet faded. However, reports indicate that the tourism sector’s recovery will be much quicker this time.
Francina Armengol, president of the Balearic Islands confirmed this recently, explaining that in 2022, the islands will be able to start the season earlier and recover the levels of British tourism seen in 2019.
She also explained that the cultural offering in the Balearic Islands will be stronger than ever “taking back part of what the pandemic took from us and making 2022 the year of culture.”
Sustainable tourism, creating climate-resilient islands, and curbing pollution were also important topics in Armengol’s speech.
According to a recent report by American Express, the pandemic has changed the way we think about luxury travel. They report that personalized experiences, high standards of cleanliness, and privacy are the top three most important factors for luxury travellers.
What’s more, 80% of respondents say they would be willing to travel out of peak season to avoid crowds.
In Mallorca, properties need a mandatory license before they can be let to tourists. This is known as an ETV license (Estancia Turísticas en Viviendas). While many types of properties can be granted these licenses, there are certain factors that mean some properties aren’t eligible, including age, zone type, and length of stays.
To avoid disappointment, consider buying a property that comes ready with an ETV license, like those listed below.
Totally renovated townhouse with ETV & pool for sale in Pollensa, Mallorca€650.0003 Bedrooms | 2 Bathrooms
This charming Mallorcan townhouse demonstrates why these properties are highly sought-after. It has been carefully renovated to include both modern and traditional elements, including a large kitchen and dining area with stone features that opens out onto a patio with a lovely little pool (with jacuzzi) and BBQ area.
Pollensa is a wonderful old town with winding streets, trendy cafés, and little galleries. At only a few minutes’ drive from the nearby beach and port of Puerto Pollensa, residents and holidaymakers here truly get the best of both worlds.
Beautiful countryside villa with rental license for sale in Moscari, Mallorca€1,490,0003 Bedrooms | 3 Bathrooms
This stunning Mediterranean retreat comes with lovely mountain views, a heated pool, landscaped gardens, and plenty of indoor space. Throughout the villa, the décor is traditionally Mallorcan, with exposed beams and tiled floors, creating an authentic atmosphere to the country house. The property comes with a holiday let license.
The small village of Moscari is nestled in the foothills of the Serra de Tramuntana mountains, giving a true taste of rural Mallorcan life. The access road has been recently renovated creating a great connection to Palma and the airport.
At Vogue Properties, we help clients find, sell, and rent their ideal Mallorcan properties. Our multilingual team is on hand to help. To get started, simply browse our latest properties or get in touch to speak to our team.
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