Latest figures show a fall in registered companies, but hospitality sector holds out
The Baleraics lost about 2000 companies in 2009, with at least half of them coming from the construction sector. New government figures reveal that in January there were a total of 36,994 companies registered, reflecting the disappearance of 1864 companies – or 4.7 percent compared to January 2009.
Construction bore the brunt of the losses, with 6237 companies registered, compared to 7277 last year – or a 14.2 percent drop.
Companies relating to the service sector, including retail sales and hotels, also took a hit, showing a reduction of 2.3 percent. Vehicle repair companies, transport and storage all showed similar declines.
But it was not all bad news, one sector is seeming to hold up above all others; the hospitality industry. Over the past year, declines have been reversed and there are actually an extra 42 bars and restaurants registered, thwarting claims that the sector is in decline. Leisure and sports companies also showed a modest increase in numbers.