The Balearics maintains its economic momentum and position as one of the engines of Spanish growth. According to the Independent Authority for Fiscal Responsibility (AIReF), the Balearic GDP grew by 3.2% year-on-year in the third quarter of 2025, a figure that equals that of Andalusia and is only improved on by the Canary Islands, which tops the national ranking with a 3.5% increase.
The Spanish average stood at 2.8%, consolidating the Balearics among the regions that contribute most to the growth of the national GDP. The Balearic growth also stands out in the quarterly analysis, with an increase of 0.7% over the previous quarter, one tenth above the national average (0.6%).
The report, prepared using the METCAP methodology for regional GDP estimation, reflects solid growth in the country’s main tourist destinations. The Balearics, the Canary Islands and Andalusia account for the largest increases, driven by a good summer season, tourist spending and the extension of activity beyond the summer.
At the other end of the scale, the Basque Country (2.2%) and Asturias (2.3%) recorded the most moderate growth. Galicia, Cantabria, Castile and León, and Extremadura remained at around 2.5%.
AIReF stresses that regional differences are largely due to the sectoral composition of each economy.
In the case of the Balearics, the importance and impact of tourism, hospitality and services continues to be decisive, while domestic demand and investment in housing have provided additional momentum. With this performance, the regions remains among the three fastest-growing autonomous communities in Spain and reinforces the optimistic forecasts for the end of the financial year.