Ibiza - No Recession

Published 10 November 2008 Stephen White.

Tags: Ibiza News

already had over 2.1 million visitors

The Centre of Economic Research has predicted that Ibiza will not enter into a recession in 2009. Statistics and projections show that the economy of the Balearics will grow by 1.4% this year and by less than 1% next year and that in Ibiza itself the figures will be slightly better.

Different sectors of the economy are faring better than others, the construction industry looks set for recession with negative growth forecast, but the better than expected results from the tourist sector have buoyed up the overall picture.

Tourist statistics up to the end of September show Ibiza has already had over 2.1 million visitors! This is only 5% less than all of last year, 13% MORE than 2006, 20% MORE than 2005, 18% MORE than 2004 and an incredible 26% More than 2003 and 2002!!!

It will be interesting to see what happens next year.

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