Majorca - Economy

Economy

Since the 1950s Majorca has become a major tourist destination, and the tourism business has become the main source of revenue for the island. In 2001, the island received millions of tourists, and the boom in the tourism industry has provided significant growth in the economy of the country. More than half of the population works in the tourist sector, which accounts for approximately 80% of Majorca’s GDP. The currency currently used in Majorca is the euro.

Read more about this topic:  Majorca

Other articles related to "economy":

Katanga Province - Economy
... Copper mining is an important part of the economy of Katanga province ... Cobalt mining by individual contractors is also prevalent ...
Scotland - Economy and Infrastructure
... Scotland has a western style open mixed economy that is closely linked with the rest of Europe and the wider world ... Traditionally, the Scottish economy has been dominated by heavy industry underpinned by the shipbuilding in Glasgow, coal mining and steel industries ... and 1980s saw a shift from a manufacturing focus towards a more service-oriented economy ...
Iran–Iraq War - Home Front - Iran - Economy
... The war furthered the decline of the Iranian economy that had begun with the revolution in 1978–79 ... Between 1979 and 1981, foreign exchange reserves fell from US$14.6 billion to $1 billion ...
Quincy, Massachusetts - Economy
... During its history Quincy has been known as a manufacturing and heavy industry center, with granite quarrying dominating employment in the 19th century and shipbuilding at Fore River Shipyard and Squantum Victory Yard rising to prominence in the 20th century ... The recent decades have seen a shift in focus to several large employers in the financial services, insurance and health care sectors of the economy ...
Great Depression - Causes - Demand-driven - Keynesian
... and Money that lower aggregate expenditures in the economy contributed to a massive decline in income and to employment that was well below the average ... In such a situation, the economy reached equilibrium at low levels of economic activity and high unemployment ... employed, governments have to run deficits when the economy is slowing, as the private sector would not invest enough to keep production at the normal level and bring the economy out of recession ...

Famous quotes containing the word economy:

    The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.
    Henry David Thoreau (1817–1862)

    Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.
    Ralph Waldo Emerson (1803–1882)

    Everyone is always in favour of general economy and particular expenditure.
    Anthony, Sir Eden (1897–1977)