La entrada Retail trade sales rise 4.3% in the Balearic Islands in October despite the slowdown compared to September se publicó primero en La Voz De Ibiza.
]]>Compared to September, the Islands’ trade recorded a 7.5% drop, a common variation after the end of the summer, when consumption moderates once the summer peak of visitors is over.
At the national level, the General Retail Trade Index – adjusted for seasonal and calendar effects – grew by 3.8% year-on-year in October, three tenths of a point less than in the previous month. In its original series, the indicator showed an increase of 4.4%, although also with a deceleration of 1.8 points with respect to September.
Despite the general slowdown in Spain, the Balearic Islands continues to be slightly above the national average in annual evolution, driven by a solid tourist season and local consumption which, although showing signs of monthly moderation, remains in positive territory.
La entrada Retail trade sales rise 4.3% in the Balearic Islands in October despite the slowdown compared to September se publicó primero en La Voz De Ibiza.
]]>La entrada Ibiza boosts Balearic growth with more air passengers and a record summer in turnover and tourism se publicó primero en La Voz De Ibiza.
]]>Hotels and transport were the driving forces behind this increase, in a context in which all activities recorded positive rates, except for administrative services. At the same time, the Balearic Islands recorded the highest price increase in Spain in October – tied with Madrid – driven mainly by the hotel, café and restaurant groups, as well as by housing, with an increase of 3.6%, four tenths above the state average.
Core inflation also picked up to 3.1%, clearly above the 2.5% recorded at the national level. Even so, domestic demand showed stability, with 0.6% growth in investment and consumption during the second quarter. In addition, the creation of commercial companies increased by 3.7% up to August, although foreign investment fell by 10.3% in the first half of the year.
Tourism was once again one of the pillars of economic dynamism. Between January and September, the Balearic Islands received
Total spending reached 20,492 million euros, up 5.5%, growing more in value than in volume. Spending per person stood at 1,232 euros (+3.1%), and daily spending reached 201 euros (+5.2%).
In the third quarter, air passenger traffic remained stable in Menorca, while it increased in Mallorca and Ibiza. Overall, Balearic airports handled 19.9 million passengers through September, 1.4% more than a year earlier.
The construction sector also showed an expansive behavior. With 3,375 homes approved, the Balearic Islands reached the maximum since 2008, with an increase of 11.9% in the last year and 33.7% accumulated growth up to September. For the Government, this trend anticipates «a strong momentum in the sector».
In terms of industry, the Balearic Islands recorded one of the highest increases in production in Spain, with an increase of 5.2% up to September, well above the national figure of 1.1%. The increase was supported by capital goods and consumer durables.
The labor market continued to show vigor. Social Security enrollment grew by 2.7% in October, to 605,034, with services (+2.7%) and construction (+2.6%) as the main drivers. Industry also advanced (+1.8%), while agriculture remained stable.
The report thus states that, despite inflationary pressure and the fall in foreign investment, the Balearic Islands maintains a higher growth rate than the country as a whole, supported by tourism, domestic consumption, construction and industry. Do you want me to prepare a headline and a downgrade as well?
La entrada Ibiza boosts Balearic growth with more air passengers and a record summer in turnover and tourism se publicó primero en La Voz De Ibiza.
]]>La entrada Changes in bank transfers: what do you need to know about the new rules in Spain? se publicó primero en La Voz De Ibiza.
]]>The official average cost of transfers, both immediate and ordinary, is set at 2.95 euros. According to the Association of Financial Users(Asufin), this adjustment represents an increase of up to 134% compared to ordinary transfers in the last two years. However, it also represents a saving compared to the average price of immediate transfers, which was around 3.65 euros in 2023. Despite this change, most users will continue to benefit from free transfers thanks to linkage agreements with banks, such as direct deposit of payroll or the contracting of specific products. On the other hand, platforms such as Bizum, which allow immediate transfers free of charge, will continue to be a popular alternative, although Asufin warns that their irreversible nature can be problematic in case of error or fraud.
The new regulation reinforces the security of transactions, requiring banks to implement advanced systems to detect and prevent fraud. In addition, banks must offer a free service that verifies the identity of the recipient before making the transfer. As an additional measure, customers will be able to set maximum limits for instant transfers, which increases control over their operations. Moreover, if the prevention measures fail and the user suffers a financial loss, he/she will be able to request compensation from the responsible entity.
The Association of Users of Banks, Savings Banks and Insurance Companies (Adicae) has welcomed these improvements, especially for their contribution to the fight against fraud and consumer protection. Meanwhile, Asufin stresses the importance of using these tools with caution and recommends avoiding instant transfers if the recipient is not trustworthy.
These changes not only speed up transfer times, but also position the Single Euro Payments Area (SEPA) as a model of efficiency and security in the management of bank payments, marking a further step towards the digitalization of the financial sector. With this new framework, users will be able to enjoy faster and safer transfers, as long as they take the necessary precautions to avoid possible inconveniences.
La entrada Changes in bank transfers: what do you need to know about the new rules in Spain? se publicó primero en La Voz De Ibiza.
]]>La entrada Balearic Islands records the highest GDP growth in Spain in 2023 se publicó primero en La Voz De Ibiza.
]]>After the advances of the islands and La Rioja, growth in Castilla-La Mancha and Castilla y León also stood out, with GDP increases of 3.3% and 3%, respectively, and Asturias (+2.8%), all of them above the national average growth of 2.8%. At the other extreme, with the least pronounced increases, were Murcia (+2%), Navarra (+2.1%) and the Valencian Community and Galicia (+2.3% in both cases). For their part, the autonomous cities of Ceuta and Melilla presented GDP growth of 1.7% and 1.8%, respectively. According to Statistics, all the communities plus Ceuta and Melilla showed GDP growth in 2023 higher than that of the European Union (EU-27), which was 0.4%. The agency has released these data after incorporating into these regional statistics the updated information of the Extraordinary Statistical Review 2024 (RE-2024) of the Annual National Accounts, whose impact on GDP amounted to 13,184 million euros for the reference year 2021. This revision, explains the INE, entails a direct effect on regional GDP levels, according to the weight of each community in each branch of activity. Additionally, Statistics has incorporated statistical changes in sources and estimation procedures of the accounting aggregates of the Regional Accounts, among which the information derived from the Population and Housing Census 2021 stands out.
Madrid recorded the highest GDP per capita in 2023, with 42,198 euros per capita, followed by the Basque Country (39,547 euros) and Navarre (37,088 euros). The Balearic Islands, meanwhile, registers a GDP per capita of 34,381 euros. This is above the national average of 30,968 euros per capita, although below the European Union average of 38,130 euros. At the other extreme, with lower GDP per capita, were the autonomous cities of Melilla (20,479 euros) and Ceuta (22,751 euros), followed by Andalusia (23,218 euros per capita) and Extremadura (23,604 euros).
La entrada Balearic Islands records the highest GDP growth in Spain in 2023 se publicó primero en La Voz De Ibiza.
]]>La entrada Nasdaq 100 slows its ascent after reaching all-time highs se publicó primero en La Voz De Ibiza.
]]>Despite this small setback suffered by Wall Street, the outlook for the Nasdaq 100 and the rest of the US stock market assets is really promising. Large companies are showing great potential in recent months and their future looks set to be overwhelming, as is the case of NVIDIA, whose constant advances in computer chips are positioning the company in a privileged position, as one of those belonging to the Nasdaq 100 with the greatest projection, both in the short and long term. Of course, we should also not forget some of the great winning horses of the aforementioned index, such as Netflix, Amazon, Tesla, Microsoft, Meta, Alibaba or Apple, which also contribute steadily to the growth that the Nasdaq 100 is experiencing during the last few days. The great momentum of these large technology companies has helped to bring in the beginning of December the best results in the history of the index that brings together the hundred best technology companies in the North American panorama, so what will happen in the immediate future will depend on their performance.
The Nasdaq 100 is a U.S. stock market index of the 100 largest industrial companies including hardware and software, telecommunications, retail/wholesale and biotechnology companies listed on the New York Stock Exchange (NYSE), listed on the Nasdaq Stock Market. Unlike other indices such as the S&P 500, the Nasdaq 100 does not include financial stocks, which distances it from other major US stock market assets. The Nasdaq Stock Market was founded in 1971 by the National Association of Securities Dealers (NASD) and introduced the world’s first computerized trading system, which allowed fast and transparent operations, although it was not until 1985 that the Nasdaq 100 as it is known today appeared. Its evolution has been such that it has recently reached the highest values since its creation, which gives an idea of the excellent moment in which it finds itself despite having almost 40 years of history, young figures in terms of stock markets. Because of this meteoric rise, the Nasdaq 100 is attracting the attention of an increasing number of investors, who are approaching the American index by acquiring shares in its hundred or so companies or by investing in ETFs (exchange-traded funds), which allow them to have a large stake in the Nasdaq 100 indirectly, something that also helps to reduce risk at the cost of a small drop in profits in relation to shares. The situation of the Nasdaq 100 in particular and Wall Street in general suggests that the US stock market has not said its last word in 2024 and that the last weeks of December may prove to be key in determining where the major indexes and their assets stand before bidding farewell to a year that has seen a great recovery in the stock markets, something that experts are confident will continue in 2025, which looks promising in various sectors.
La entrada Nasdaq 100 slows its ascent after reaching all-time highs se publicó primero en La Voz De Ibiza.
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