We all know that Majorca is a fantastic place but is there a danger that it could be pricing itself out of the market? Is it becoming just too expensive, especially Palma? I would have to say yes but obviously there are many places which offer some great deals and value for money. Eating out in some restaurants in Palma has become an expensive luxury: their prices are similar to those being charged at restaurants in Madrid and London. Prices need to be competitive and should cater for all, just not the super wealthy.
Prices have been on the increase on the island ever since the start of the recession and now they have reached levels which are starting to cause concern. It must be taken into account that Majorca is home to many rich people from across the globe who can afford these prices. As we reported in Sunday's Bulletin shop sales in Palma have never been higher and there is a definite buzz about the place. But I would urge some local businesses to rethink their prices. Once Majorca gets a reputation as "expensive" then tourists will just go elsewhere. We need a degree of price control to ensure that the island continues to prosper.
The deep recession taught us many things and one of the most important was the dangers of credit. In some places in Palma you need to go into credit just to afford them. This is not the way forward. Majorca must be a value for money holiday destination; not one which is hugely expensive.