The Balearic marine market recorded a drop in registrations in the first quarter of the year

The Balearic marine market recorded a severe decline in registrations in the first quarter, but falls more moderately than the whole of Spain.

The Balearic marine market has closed the first quarter of the year with 211 recreational boats registered, representing a decrease of 10.21% over the same period of 2023, when 235 registrations were recorded, according to data collected in the 'Report on the recreational boating market. January-March 2024', published by ANEN based on data provided by the Directorate General of the Merchant Navy.

The clearly negative nature of this data is qualified, however, when compared with the evolution of the marine market in Spain as a whole, where, in the first three months of the year, the number of registrations has fallen by 23.4%. This has meant that, despite the decrease of recorded in the Islands, the market share of the Balearic marine industry has grown from 17.87% in March 2023 to 20.95% today. 

The fall in registrations affects almost all of the autonomous communities with the greatest impact on the marine market, with the exception of certain areas in northern Spain, such as A Coruña (22.86%), Asturias (+30%) and Cantabria (+33.3%). In Catalonia, Girona recorded a 7.55% growth in registrations. And in the Valencian Community, Valencia increased its registrations by 13.33%. 

As for the charter market, registrations of charter boats fell by 13.57% in the Balearic Islands to 121 units, which represents 57.5% of the total number of recreational boats registered in the Islands. 

Likewise, the 24.3% drop in Spain as a whole has led to an increase in the Islands' market share from 30.11% to 34.38%. In the other territories, the same pattern is repeated as in the global market, with increases in charter boat registrations in Girona, Asturias, Cantabria and Valencia.