Balearic business turnover rises 8.4%, but firms split

Mallorca, in the Balearic Islands, is part of a mixed business picture in 2024: turnover across the islands rises 8.4%, but returns fall at some firms. The figures come from a review released by Impulsa Balears on 28 September 2026. It finds stronger finances overall, while showing how differently individual firms are doing.

More turnover, stronger finances

Balearic business turnover stands 17.4% above its 2019 level. Profit margins rise from 10.5% to 12.6% between 2023 and 2024. Economic returns reach 10.5%, while financial returns reach 17.1%.

Firms also carry less debt relative to their finances: the debt ratio falls from 1.01 to 0.87. Financial independence rises from 49.8% to 53.4%.

The averages hide a divide

Value added per worker reaches 69,410 euros, up 10.5% on 2023. Staff costs per worker rise by 4.6% over the same period.

But firms do not follow one path. At 23.3%, both economic returns and the renewal of long-term assets improve. Another 23.3% renew more assets without yet seeing better returns. At 27%, returns fall and asset renewal makes no progress.

That divide matters when reading the figures for Mallorca and the other islands: the regional average does not describe every firm. Impulsa Balears says decisions depend on each company’s position and what still limits its ability to create value.

Topics: Economy

Source: Europa Press / Mallorca.com