{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Economic crisis passes Mallorca\u0026#39;s luxury tourism by' data-url='/boclips/videos/5c54c497d8eafeecae169efc' data-video-url='/boclips/videos/5c54c497d8eafeecae169efc' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nEconomic crisis passes Mallorca\u0026#39;s luxury tourism by\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eAP TelevisionMallorca, Spain - 3 September 20121. Mid of swimming pool and statue in luxury villa1. Pan left from Thai bed to wide of seafront as seen from luxury hotel Cap Rocat 3. Wide of seating area4. Various of interiors of hotel5....\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eAP Television\u003cbr/\u003eMallorca, Spain - 3 September 2012\u003cbr/\u003e1. Mid of swimming pool and statue in luxury villa\u003cbr/\u003e1. Pan left from Thai bed to wide of seafront as seen from luxury hotel Cap Rocat \u003cbr/\u003e3. Wide of seating area\u003cbr/\u003e4. Various of interiors of hotel\u003cbr/\u003e5. Pull focus from bowl to the door handles which are original (decommissioned) shells from fortress\u003cbr/\u003e6. Tilt down from lamp to Moroccan style interior\u003cbr/\u003e7. Wide of room with original saddle seats\u003cbr/\u003e8. Wide of Cap Rocat hotel entrance\u003cbr/\u003eMallorca, Spain - 28 August 2012\u003cbr/\u003e9. Various exteriors of Sotheby's International Realty office\u003cbr/\u003e10. SOUNDBITE: (English) Daniel Chavarria Waschke, managing director, Mallorca Sotheby's International Realty\u003cbr/\u003e\"Well the potential buyer that is attracted to Mallorca is a middle-aged buyer, I would say between 40 and 60 years. This (age) has been dropped almost by 10 years in the last 5 years. So before it was older. Right now also we have requirements for child-friendly properties, that was never (the case) before, five years ago. Northern European buyers, mainly British, German, Scandinavian. They have normally 2 or 3 properties already, one first residence wherever they live, a second one in the Alps, in the skiing resort, and then comes Mallorca, probably also one in the Caribbean, so they are very wealthy in the financial aspect and normally the do not need to have a mortgage to buy a property.\"\u003cbr/\u003e11. Wide from road of luxury villa for sale\u003cbr/\u003e12. Various interiors of luxury villa\u003cbr/\u003eMallorca, Spain - 30 August 2012\u003cbr/\u003e13. Various of Magaluf beach\u003cbr/\u003e14. Wide of sailing boat on horizon\u003cbr/\u003e15. Wide exterior of the Beach House hotel\u003cbr/\u003e16. Various interiors of hotel\u003cbr/\u003e17. Wide of people waiting at lobby to check-in\u003cbr/\u003e18. Various of man surfing in the artificial surf pool in the Wave House hotel\u003cbr/\u003eMallorca, Spain - 31 August 2012\u003cbr/\u003e19. SOUNDBITE: (Spanish) Manuel Onieva, mayor of Calvia\u003cbr/\u003e\"During the tourist season, Calvia' is visited each year by 2.2 million people. These are 2.2 million people who sleep in this municipality, spend in this municipality, and in the hotels they stay in. These hotels are many and very different so obviously this generates wealth in all the levels of economy. We shouldn't forget that 93 per cent of Calvia's gross domestic product is due to the service sector, tourism. So obviously a quantity of tourists like the one I told you generates economic life in this municipality and as I always say, if in Calvia' tourism is doing well, Calvia' is doing well.\"\u003cbr/\u003eMallorca, Spain - 30 August 2012\u003cbr/\u003e20. Wide of Nikki Beach entrance, luxury cars at front\u003cbr/\u003e21. Various of bar area of Nikki beach and people drinking\u003cbr/\u003e22. Mid of luxury yacht available at 470,000 euro a day rental pull to wide of bar\u003cbr/\u003e23. Close of Nikki Beach's sushi on counter\u003cbr/\u003e24. Various of waiters carrying food to customers \u003cbr/\u003e25. Wide of couple sitting on sofa smoking shisha pipe\u003cbr/\u003eMallorca, Spain - 28 August 2012\u003cbr/\u003e26. SOUNDBITE: (English) Daniel Chavarria Waschke, Managing Director Mallorca Sotheby's International Realty\u003cbr/\u003e\"You have the mountain chain, you have valleys, you have marinas and a very big central part of the island where for instance it's possible to have 23 golf courses in the small island of Mallorca.\" \u003cbr/\u003e27. Various of people playing a round  at Bendinat luxury golf course\u003cbr/\u003eMallorca, Spain - 31 August 2012\u003cbr/\u003e28. Wide of Port Adriano harbour\u003cbr/\u003e29. Mid of yacht arriving to harbour\u003cbr/\u003e30. Wide of shops and bars with yacht in foreground\u003cbr/\u003e31. Various of boats and yachts in harbour\u003cbr/\u003eDespite the world's engulfing economic crisis, luxury tourism is on the rise in Mallorca. \u003cbr/\u003eThe Spanish island's estate agents are buoyant, developers are investing and waves of wealthy tourists are flocking to this sunny spot. \u003cbr/\u003eA pool with a view... if you can afford it.\u003cbr/\u003eAnd if you're not feeling energetic enough for a swim, how about chilling out on this outdoor bed with this turquoise sea for comfort.\u003cbr/\u003eLuxury doesn't come cheap here on the Spanish island of Mallorca which is proving surprisingly resilient to the recession. \u003cbr/\u003eCap Rocat is just one of the numerous luxury hotels scattered on the island. \u003cbr/\u003eIt features modern Moroccan design mixed with a clean-cut minimalist style.\u003cbr/\u003eA night in this luxury hotel, which once served as a military fort, can cost between 650 and 1,500 euro  (USD $840 - 1,936).  \u003cbr/\u003eBut it's not just expensive hotels that are thriving this year in the Balearic island. \u003cbr/\u003eSotheby's international real estate managing director for Mallorca, Daniel Chavarria Waschke, says this year the market has been picking up and finally coming out of a slump which starting at the end of 2009. \u003cbr/\u003eHe is optimistic and believes the worse is over. \u003cbr/\u003eProperties on sale can range from two million euro (USD $2.6 million) for a villa, to about 40 million euro (USD $52). The biggest property sold this year was for 30 million euro (USD $39 million). \u003cbr/\u003e\"The potential buyer that is attracted to Mallorca is a middle-aged buyer, I would say between 40 and 60 years. This (age) has been dropped almost by 10 years in the last 5 years. So before it was older. Right now also we have requirements for child-friendly properties, that was never (the case) before, 5 years ago,\" he says.  \u003cbr/\u003eBuyers are usually Northern European, mainly British, German, Scandinavian, he says. \u003cbr/\u003e\"They have normally 2 or 3 properties already, one first residence wherever they live, a second one in the Alps, in the skiing resort, and then comes Mallorca, probably also one in the Caribbean, so they are very wealthy in the financial aspect and normally the do not need to have a mortgage to buy a property.\"\u003cbr/\u003eThe average value of properties sold is from three to five million euros (USD $3.8 - 6.5 million), mainly used as second houses, vacation villas. \u003cbr/\u003eThey are used on average for six to eight weeks a year and the rest of the year they are left empty. \u003cbr/\u003eForeign developers began to invest in the island in the late 1990s. \u003cbr/\u003eThey were mainly Germans who discovered the island as a great second home market.\u003cbr/\u003eNikki Beach and Wave House are the two newest luxury hotel ventures to open this summer season. \u003cbr/\u003eBuilt in the popular destination of Magaluf, the hotels are a far cry from the typical all-inclusive deals the area is known for. \u003cbr/\u003eCalvia's mayor says the multi million euro project is a first move to improve the image of the area and attract a new wealthier tourist. \u003cbr/\u003e\"93 per cent of Calvia's gross domestic product is due to the service sector, tourism. So obviously a quantity of tourists like the one I told you generates economic life in this municipality and as I always say, if in Calvia' tourism is thriving, Calvia' is thriving,\" says Onieva. \u003cbr/\u003eDesigned by architect Philippe Starck, Port Adriano is one of the many yacht marinas to offer chartering for bigger boats and luxury boutiques and restaurants. \u003cbr/\u003eAccording to Chavarria at Sotheby's, the reason for Mallorca's popularity lies in its accessibility and geography. \u003cbr/\u003eWith its 23 golf courses, the island is always green. \u003cbr/\u003e\"You have the mountain chain, you have valleys, you have marinas and a very big central part of the island where for instance it's possible to have 23 golf courses in the small island of Mallorca,\" he says.\u003cbr/\u003eThe European Stability Mechanism, recently granted Spain a 100 billion Euro loan to prop up its banks.\u003cbr/\u003eHowever economic analysts say that Spanish Prime Minister Mariano Rajoy may still have to ask for a politically costly bailout that could save his country and the 17-nation eurozone from financial chaos.\u003cbr/\u003eBut under the late summer sun Mallorca is enjoying a taste of the good life, far from the strife in the rest of the country. \u003cbr/\u003eClients are reminded: \u003cbr/\u003e(i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: info@aparchive.com. \u003cbr/\u003e(ii) they should check with the applicable collecting society in their Territory regarding the clearance of any sound recording or performance included within the AP Television News service \u003cbr/\u003e(iii) they have editorial responsibility for the use of all and any content included within the AP Television News service and for libel, privacy, compliance and third party rights applicable to their 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