Economic shifts in Spain: Balearic Islands approach Catalonia in per capita income

Economic data from the National Statistics Institute (INE) indicates a shifting wealth landscape in Spain. The Balearic Islands and Aragon are approaching Catalonia in terms of per capita income. In 2025, the per capita income in the Balearic Islands reached 38,510 euros, narrowing the gap with Catalonia, which stood at 39,199 euros—a difference of only 689 euros. This represents a significant decline from 2012, when the gap was 2,127 euros.

Simultaneously, the cost of living within the Balearic Islands shows extreme regional disparities. According to the 2025 report by the Economic and Social Council of the Balearic Islands (CES), living in Ibiza is approximately 11,600 euros more expensive per year than in Mallorca. Ibiza also saw the sharpest increase in the cost of living in 2025, rising by more than 7,300 euros. Other islands also experienced increases, with Formentera requiring 4,900 euros more annually, Menorca 3,300 euros more, and Mallorca 2,900 euros more compared to previous estimates.