Deloitte study on the economic impact of cruise in the Balearic Islands

Deloitte study on the economic impact of cruise in the Balearic Islands

The activity of the cruise industry in the Port of Palma generated €520 million in the Balearic Islands and contributed to the creation and maintenance of more than 4,300 full-time jobs in 2018, according to a study by consulting firm Deloitte.

In 2018, there were 594 calls in the port of Palma. According to the research, the average expenditure of a transit cruise passenger was €80.3, while that of a passenger who embarks and disembarks in Palma and visits the island was €238.4. This is concentrated in five areas: transport, accommodation, catering, leisure, and culture, and commerce.

The report concludes that the economic contribution of cruise passengers represents 73% of the total economic impact of the industry. The remaining 27% includes items such as expenses generated by crew members during stopovers or related to port costs.

The report also highlights the multiplier effect of the economic impact. Each euro invested in items related to the cruise industry in Palma, generates an economic impact of €2.45 in the Islands.