Economy, jobs and prices in Eivissa y Formentera (Balearic Islands, Spain): official figures
GDP per person was 36,800 purchasing power standards (PPS) in 2023, 96% of the EU average (91% for Spain); 13th highest of 59 provinces in Spain.
How big is the economy of Eivissa y Formentera?
The local economy produced €5.6 billion of output (GDP) in 2023.
Source: Eurostat · saved copyHow many people work in Eivissa y Formentera?
About 75,400 people worked in Eivissa y Formentera in 2023 (employment by place of work).
Source: Eurostat · saved copyWhat is the average income in Eivissa and Formentera?
In 2024 the average resident of Eivissa and Formentera had a net income of €18,099, against €15,948 across Spain; that ranks Eivissa and Formentera 5th highest of the country's 59 provinces and islands.
Source: Instituto Nacional de Estadística (INE) · saved copyHow fast are incomes growing in Eivissa and Formentera?
Net income per person in Eivissa and Formentera rose 5.7% between 2023 and 2024 and has grown 63% since 2015 (from €11,128); that growth ranks 2nd fastest of 56 among the provinces and islands with figures back to 2015.
Source: Instituto Nacional de Estadística (INE) · saved copyWhat is the average household income in Eivissa and Formentera?
Households on the islands of Eivissa and Formentera took home €52,936 a year on average in 2024; before income tax and social security contributions the figure was €67,821. The national household average was €40,605.
Source: Instituto Nacional de Estadística (INE) · saved copyWhat is the median income in Eivissa and Formentera?
Median income per consumption unit, which adjusts for household size, was €23,450 in Eivissa and Formentera in 2024 (Spain: €19,950), 5th highest of 59; the mean was €28,197, so the median sat 17% below it.
Source: Instituto Nacional de Estadística (INE) · saved copyWhat is the main industry in Eivissa y Formentera?
The largest part of the economy of Eivissa y Formentera in 2023 was trade, transport, hospitality and communications, at 48.4% of gross value added, followed by finance, property and business services (23.6%).
Source: Eurostat · saved copyHow industrial is Eivissa y Formentera?
Industry (manufacturing, mining and energy) made up 3.7% of output in 2023, against 16.1% for Spain.
Source: Eurostat · saved copyHow fast is the economy of Eivissa y Formentera growing?
Gross value added rose from €3.3 billion in 2015 to €5.1 billion in 2023 in current prices, an increase of 55% before inflation.
Source: Eurostat · saved copyWhat jobs do people do in Eivissa y Formentera?
Of the 75,400 jobs located in Eivissa y Formentera in 2023, 22% in public services, education, health and other services, 3% in industry and 0.4% in farming, forestry and fishing.
Source: Eurostat · saved copyAre jobs growing in Eivissa y Formentera?
The number of people working in Eivissa y Formentera rose by 22.8% between 2015 and 2023, to 75,400.
Source: Eurostat · saved copyMore figures
- Within the Balearic Islands, net income per person in Eivissa and Formentera (€18,099 in 2024) was 5% above the regional average of €17,158, the highest of the region's 3 islands. Source: Instituto Nacional de Estadística (INE) · saved copy
- The median income per consumption unit in Eivissa and Formentera went from €15,050 in 2015 to €23,450 in 2024, a rise of 56%. Source: Instituto Nacional de Estadística (INE) · saved copy
How Eivissa y Formentera compares with other provinces in Spain
Net income per person (2024)
Eivissa y Formentera ranks 5 of 59, highest first.
| Rank | Area | Net income per person |
|---|---|---|
| 2 | Bizkaia | €19,858 |
| 3 | Madrid | €19,277 |
| 4 | Araba/Álava | €18,742 |
| 5 | Eivissa y Formentera | €18,099 |
| 6 | Barcelona | €17,884 |
| 7 | Navarra | €17,701 |
| 8 | Menorca | €17,490 |
Median income per consumption unit (2024)
Eivissa y Formentera ranks 5 of 59, highest first.
| Rank | Area | Median income per consumption unit |
|---|---|---|
| 2 | Bizkaia | €25,550 |
| 3 | Araba/Álava | €24,150 |
| 4 | Navarra | €23,975 |
| 5 | Eivissa y Formentera | €23,450 |
| 6 | Madrid | €23,450 |
| 7 | Barcelona | €22,750 |
| 8 | Burgos | €22,050 |
Growth in net income per person since 2015 (2015-2024)
Eivissa y Formentera ranks 2 of 56, highest first.
| Rank | Area | Growth in net income per person since 2015 |
|---|---|---|
| 1 | La Palma | 76.9% |
| 2 | Eivissa y Formentera | 62.6% |
| 3 | Málaga | 58.1% |
| 4 | Lanzarote | 58.1% |
| 5 | Menorca | 57.2% |
| 6 | El Hierro | 56.1% |
| 7 | Tenerife | 55.9% |
Share of output from industry (manufacturing, mining and energy) (2023)
Eivissa y Formentera ranks 58 of 59, highest first.
| Rank | Area | Share of output from industry (manufacturing, mining and energy) |
|---|---|---|
| 53 | Mallorca | 5.5% |
| 54 | Ceuta | 5.2% |
| 55 | Lanzarote | 4.9% |
| 56 | La Gomera | 4.8% |
| 57 | Fuerteventura | 4.5% |
| 58 | Eivissa y Formentera | 3.7% |
| 59 | Melilla | 3.4% |
Share of output from finance, property and business services (2023)
Eivissa y Formentera ranks 18 of 59, highest first.
| Rank | Area | Share of output from finance, property and business services |
|---|---|---|
| 15 | Cantabria | 24.3% |
| 16 | Lanzarote | 24.2% |
| 17 | Cádiz | 23.9% |
| 18 | Eivissa y Formentera | 23.6% |
| 19 | Gipuzkoa | 23.0% |
| 20 | Ávila | 22.9% |
| 21 | A Coruña | 22.8% |
Share of output from public administration, education, health and other services (2023)
Eivissa y Formentera ranks 59 of 59, highest first.
| Rank | Area | Share of output from public administration, education, health and other services |
|---|---|---|
| 53 | Madrid | 18.8% |
| 54 | Barcelona | 18.4% |
| 55 | Menorca | 18.2% |
| 56 | Girona | 18.1% |
| 57 | Castellón/Castelló | 17.8% |
| 58 | Tarragona | 17.7% |
| 59 | Eivissa y Formentera | 14.1% |
More on Eivissa y Formentera: overview · poverty and living standards · government budget · Balearic Islands · Spain
Sources
- Eurostat: Eurostat dataset nama_10r_3gdp: GDP per person, PPS (NUTS 3), read 23 October 2026 · saved copy (SHA-256 3bf0fc662f56…)
- Eurostat: Eurostat dataset nama_10r_3gdp: GDP, million euros (NUTS 3), read 23 October 2026 · saved copy (SHA-256 096e15e5fdb3…)
- Eurostat: Eurostat dataset nama_10r_3empers: Employment, thousand people (NUTS 3), read 23 October 2026 · saved copy (SHA-256 664e4e3a6dc0…)
- Eurostat: Eurostat dataset nama_10r_3empers: Employment (thousand persons) by NUTS 3 region and industry, read 23 October 2026 · saved copy (SHA-256 222a97c302d3…)
- Eurostat: Eurostat dataset nama_10r_3gva: Gross value added at basic prices by NUTS 3 region and industry, read 23 October 2026 · saved copy (SHA-256 c656e8563bdf…)
- Instituto Nacional de Estadística (INE): Atlas de Distribución de Renta de los Hogares (ADRH) 2024: indicadores de renta media y mediana por provincias e islas, 2015-2024 (table 53689), read 23 October 2026 · saved copy (SHA-256 883851a1be5e…)
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