Figures from the National Statistics Institute indicate that hotel and restaurant prices in the Balearics have increased this year by 10.2%, more or less double the Spanish average of 5.2%. As there was a similar increase in prices in 2022, they are 20% higher than they were in 2021. The closest other regions for the two-year period are Galicia and Valencia, where the increases are below 17%.
Despite the increase, bookings for Mallorca and the Balearics have barely been affected, if at all. Palma-based Hotelbeds, one of the world's largest bed banks, says that the Balearics status as a leading holiday destination has prevented this increase from harming tourist numbers. "The Balearic Islands have always been a popular destination for summer holidays and 2023 is no different."
The company adds that demand for "room nights" has increased 20% compared with 2022. "This shows that the interest of national and international travellers continues to be very strong."
The manager of the Habtur holiday rentals association, Maria Gibert, says that "there is no difference" in terms of demand when compared with last year. The price increase in the holiday let sector, she adds, is in line with the 10% for restaurants and hotels.