- A privileged geographical location with excellent worldwide connections
Thanks to their geographical location, the Balearic Islands are an ideal business platform to access both the European markets and the rest of the world’s growing markets. The Islands boast a strategic position in Spain’s most dynamic area.
With 22.7 million passengers in 2011, Palma de Mallorca’s Son Sant Joan Airport is one of Europe’s leading airports. Moreover, the Islands are home to some of the most important freight and passenger ports in the Mediterranean and Southern Europe, and they are one of the top cruise destinations in the region.
- Modern inland infrastructure network
The Islands have an extensive transport network that facilitates local connections, thanks to their modern and safe road systems, which are constantly being improved. These roads are used by numerous public transport companies that connect the municipalities with one another and with the capital city of each of the islands.
On the island of Mallorca, the train is a fast and convenient means of transport that is moreover in expansion. The city of Palma de Mallorca also has an underground train that connects the university with the city centre and the industrial areas.
- An ideal place for professional and business gatherings
Thanks to their features, experience, infrastructures and environment, the Balearic Islands are the ideal backdrop to combine business with pleasure, making them the perfect hosts for important national and international meetings and conventions.
The Islands have quality infrastructures with special features that make them a competitive destination for business events, as they are able to respond to the needs and demands of the specialised conference, convention and incentive trip business sector.
- An open and dynamic economy
T he Gross Domestic Product of the Islands, which is in constant growth, , boasting a per capita income above the average of the European Union. In fact, the Islands’ development pattern is similar to that of the most consolidated economies.
Of the total production of goods, exported by 3.2% in 2011. The Balearic Islands have a consolidated production sector that is coordinated through an extensive network of industrial parks that produce footwear, clothing, fashion accessories, fashion jewellery and processed foods. Time and again, the Islands have demonstrated their great adaptability to the new market trends. As a result, leading companies of the different production sectors have decided to set up headquarters in the Balearics, alongside the multinational corporations of the tourism industry.
- A hub for tourism and leisure
The Balearic Islands are the second most popular tourism destination in Spain, with over 9 million international tourists each year.
The Islands are a leading cultural haven thanks to their rich historical legacy, as well as their architecture and heritage, which gives them a special personality and charm. This explains the innovative spirit that permeates the Balearic society and positions it as a benchmark for international culture.
- Institutional stability and regulatory framework
Within the framework of the European Union, legal and fiscal stability stimulate economic activity, making the Balearic Islands an ideal place for business development.
- An enterprising and innovative spirit
The Balearic people have initiative. The Balearic Islands are the third autonomous region in Spain with the largest number of businesses per thousand inhabitants. They are the headquarters of internationally renowned fashion and design firms that use quality production systems equipped with innovative, environmentally friendly technologies.
The Balearic economy’s combined heavy demand and entrepreneurial spirit generates a long chain of synergies. The result is a persistently dynamic market and a continual increase in business opportunity.
- Professional and skilled human capital
The Balearic Islands boast a young, highly skilled, well trained and extremely motivated human capital. In fact, human resources production is currently in full expansion in the Islands.
The Balearics are home to powerful educational centres. In this sector, the role played by the Balearic Islands University (UIB) is essential, as it offers a wide variety of professional degrees to satisfy the needs for specialists in all areas of business and industry.
- Excellent quality of life and working conditions
The Balearic Islands enjoy a pleasant climate most of the year round, with landscapes of vast environmental beauty. This greatly contributes to the Islands’ positioning as one of the regions with the highest quality of life.
Moreover, the Islands have a modern, high-quality infrastructure network that offers services in the social, healthcare and educational areas, making for a solid and constructive social climate.
- Incorporation of new technologies
The Balearic Islands have a great capacity for innovation, making them attractive for the new technologies sector. Initiatives have been launched to take full advantage of the potential of telecommunications, in an aim to attract clean industries and activities with high added value in the areas associated with scientific research.
One of the primary underpinnings of the Islands’ outreach to the knowledge society is the Balearic Technological Innovation Park (known locally as the Parc BIT www.parcbit.es). The natural setting of the park is a privileged backdrop for R&D&I, which account for much of the park’s activity. The park also houses a technology business incubator, which serves professors, researchers and entrepreneurs with projects, offering them the opportunity to generate technology-based spin-offs.