By John Smith • 30 November 2020 • 11:06
Sales of cigarettes have plummeted
ONE hidden negative effect from the Covid-19 pandemic to the economy of the Balearics has been the enormous slump in the sale of cigarettes which generates large amounts of revenue for the tax man as well as profits for tobacconists.
According to figures released by the Balearic Ministry of Finance, the drop is in the region of 40 per cent as in October 2019 77.7 million packets were sold whilst in the same month this year, sales had dropped to 47.2 million packets.
With annual sales down by more than €150 million so far this year, the lack of tourists is blamed for this significant drop with British purchasers in particular previously benefitting from an average cost of €5 (£4.55) per packet in Mallorca, against £12.50 (€13.75) in the UK.
At least, the drop in sales of cigarettes might see the health of some people improve.
Thank you for taking the time to read this news article “Tobacco industry in Balearics gasping for breath”.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica.
Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene.
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