Majorca Daily Bulletin

News | Balearics

Balearics has the highest standard of living in the European Union

The Balearics continues to have one of the highest standards of living of any province in the European Union, according to a survey released yesterday. Incomes in the Balearics rose by a record 7 percent compared to the European Union average of four percent. The survey also stated that the Spanish economy is in a very healthy condition. Overall it grew by a record four percent last year. But the Balearics even outshone the national average, the economy here grew by seven percent helped by a record summer season. The islands' massive wealth is clearly visible. The Balearics has one of the largest car fleets per capita of any province in Spain. However, local economists have warned that as the Balearics get richer the poverty gap continues to grow. There are now more cases than ever before of homelessness.

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