I depart Majorca tomorrow and head back to Yorkshire so if Dub will permit a brief summation of what I see here.
Plenty of unfinished building projects many stopped since 2008 including some larger government developments. Talking to restaurant, bar and other business people all agree they are doing it a great deal tougher these days’ visitor numbers are down and people are spending less money.
The harbour remains full of luxury yachts but I only see one or two moving and there are few for sale signs. I spoke with a German yacht broker who told me he had some real bargains to offer but that there is just no money around at all.
To be fair I asked about optimism for the future and I did like one guy’s answer: “When we are this far on the bottom (financial I’m sure) then there is only one way to go and that’s up.”
I talked to one native Spanish bar owner, outside his place all the tables were full (like the planes some people see, this may look positive) he told me that when the cruise ships come into port this always happens one Pilipino or Indian crew members comes in and buys one coke ad asks for the Wi-Fi code next his place is full with people checking in back home on their lap tops and other devises. He went on to say that this bothered him greatly in the past but now he said he is struggling in his business and making little money but these people have even less than me, so who cares!
I think that kind of attitude sums it up Spain is broke the people know this, the sun still shines life goes on and this situation will one day pass.
I note the Gold price up a little as is Oil at the start of the week $1,600.00 appears to be the current floor price for Gold and has been for the last 10-12 weeks as far as I recall, summer doldrums I believe is the technical term. Maybe Uncle Ben will come up with another alphabet acronym scheme at Jackson Hole and put some wind in the sails.
Via Con Dios from Majorca for the last time and very best regards to all: Andy
