According to a report released on Thursday by the European Anti-Poverty Network, the risk of falling into poverty has decreased more in the Balearics than any other region of Spain. In 2024, 11.3% of the population was at risk. This compares with 21.7% in 2015, which was when mortgage foreclosures, a consequence of the financial crisis, were at their highest.
Although the figures are falling, there are 139,000 people who are experiencing very tough times. In the case of people at severe risk of poverty, those living in households with incomes below €644 per month, the rate is 5.4%. Compared to before the financial crash, only the Balearics, the Canaries, and Extremadura have improved their rates of severe poverty.
Regarding child poverty, the rate in the Balearics is 19.4% in the Balearic Islands. While lower in regions such as Galicia (13.5%), there are parts of Spain where this is far higher, e.g. Andalusia (40.5%).
The report examines severe material and social deprivation. A person is considered to be experiencing these if they meet seven or more of thirteen criteria. These include, for example, not being able to turn on the heating or not being able to go out for a meal or a drink with friends once a month. In the Balearics, almost six per cent of people don't have the means to go out for a monthly drink or meal; the national figure is close to nine per cent.
For most of these criteria, the Balearics are lower than the national average. Late payment of housing-related costs is higher - 15.3% of the population compared with 14.2% nationally.