Mallorca jobs plan: two funds to cut tourism reliance
Mallorca’s local firms could get public backing under a two-fund jobs plan: the Ara Més-Front Ampli alliance put the proposal forward in Palma, Mallorca, on 13 November. One fund would help businesses start and grow; the other would let families voluntarily invest some of their savings in Balearic companies. Congress candidate Carme Gomila says the aim is to create jobs and reduce the islands’ reliance on tourism.
How the two funds would work
The first fund would combine public and private money. It would support businesses in food production, industry, new technology, renewable energy and culture. The alliance says it wants those businesses to provide stable, well-paid jobs.
The second fund would offer families a potential return for putting savings into local business projects. The alliance presents it as an alternative to investing in property.
Why tourism is in the firing line
Ara Més-Front Ampli also wants to review the Balearic Islands Special Regime (REIB). It would remove incentives that favour tourism and direct public support towards other parts of the economy.
The alliance says annual tourist numbers have risen from five million 40 years ago to nearly 20 million. It also points to a gap in economic growth: between 2000 and 2023, the Balearic economy grew by 44%, but real output per person rose by just 0.7%. For Gomila, that is why growth alone is not enough; she wants it to bring better prospects for people living on the islands.
Source: Europa Press / Mallorca.com