Palma income gap: 1.2% rise puts city ahead

Palma de Mallorca’s income gap widened by 1.2% in 2023, putting the city top among Balearic municipalities with more than 50,000 inhabitants. Its Gini index — a measure where zero means perfect equality and one means total inequality — stood at 0.5046, just above Calvià’s 0.5038 and Eivissa’s 0.4998. The figures come from the Fundación de Estudios de Economía Aplicada (Fedea), which examined 40 municipalities across the Balearics.

Calvià’s inequality score fell by 15.4% from 2022, while Eivissa’s dropped by 4%. Across the Balearic municipalities studied, income inequality increased by 0.7% between 2022 and 2023. The Balearic-wide Gini index was 0.5227 in 2023.

Sant Joan de la Labritja recorded the islands’ highest score, at 0.6360, followed by Algaida at 0.6185 and Fomentera at 0.6160. Binissalem had the lowest income disparity, with 0.3837, ahead of Es Mercadal on 0.4316 and Capdepera on 0.4452.

Es Mercadal saw the sharpest fall in inequality, down 37.1%. Es Castell moved the other way, with the biggest increase at 47.9%. Average income among Balearic tax filers was close to 27,100 euros in 2023, while average income per person was about 14,000 euros.

Topics: Politics · Economy · Sant Joan · Algaida · Binissalem · Capdepera · Palma · Calvià

Source: Europa Press / Mallorca.com