The International Luxury Travel Market (ILTM) in Cannes is one of the world's main travel fairs dedicated to this segment. Held in December, Mallorca was highlighted as being the principal luxury destination in the Mediterranean for 2023.
The Council of Mallorca's tourism councillor, Andreu Serra, says that the island "has become a benchmark destination in this segment of the tourism market". "Mallorca has everything in terms of luxury hotel services and its gastronomic, sports, cultural and complementary offer." At the fair, he explains, "we saw a rise in bookings for this year, much higher than that for competing destinations in the Mediterranean". "This was due to the efforts that the private sector that has made through a strong commitment to offer the highest quality and to attract, retain and consolidate this holiday market."
Premium tourism, Serra adds, has been high on the agenda since 2019 and the formation of the current administration at the Council of Mallorca. "And we now see that the promotion carried out in recent years at Cannes, despite the pandemic, has had an effect and that we are now fully benefiting form a demand that other destinations previously had."
Among other things, the Council and the Essentially Mallorca association, which specialises in luxury tourism, point to the boutique hotels in Palma, agrotourism establishments, "emblematic" five-star hotels and eleven restaurants with Michelin stars. "All these have helped in capturing a greater market share from one year to the next."
He emphasises that luxury tourism is not affected by economic fluctuations, such as inflation, to the same extent as other segments. "It seeks quality, maximum exclusivity and differentiated products. Mallorca has known how to adapt to this demand and we are now in a leadership position."