Balearic Boat Market Faces Year-End Decline

The Balearic Islands continue to solidify their position as the hub of Spain's boat market, capturing 18% of the recreational vessel registrations recorded nationwide through November 2024. Despite maintaining a leading position, the archipelago has experienced a 17.1% decrease compared to the same period in 2023.

Nationally, 4,883 vessels were registered between January and November 2024, reflecting a 16.4% drop from the previous year. This decline corresponds to the sector's slowdown in key segments, including smaller boats, jet skis, and inflatable dinghies, which have faced the most notable challenges. These figures are part of a report compiled by ANEN based on data from the Directorate General of Merchant Marine.

The Balearic Islands firmly hold the top spot nationally, with 18% of total registrations, significantly ahead of Barcelona (11.1%) and Madrid (6.7%), which rank second and third, respectively.

The charter market is a crucial part of the Balearic economy, making up 27.2% of Spain's charter registrations through November. This year, 470 vessels were registered for charter in the Balearics, accounting for 53.5% of all vessel registrations in the region. While this marks a 22.2% decrease compared to the previous year, the Balearics still hold a significant lead over other key markets: Barcelona, with an 11.9% share, and Girona, with 8.8%.