Massive investment for Menorca A massive investment in Menorca has been announced that will see the island get a series of improvements throughout 2008. In total 20 million Euros will be invested. That’s about £14.3 million at today’s exchange rate.
The cash will be spent making the island better both for residents and tourists. One third of the budget, just under eight million Euros, will be spent on improving public transport. It will also be invested into improving some of the island’s lanes and highways. Transport infrastructure continues to be essential to the island, as it seeks to maintain its position as a premiere tourist attraction.
Three million Euros – just over £2.15 million – will be spent on green projects. Heritage and education gets just over a million Euros, and sport more than two million. Tourism gets a boost of six hundred thousand, while projects to help local families will benefit from 200,000 Euros. Only half of the money will be provided by the island itself. The rest is coming from Balearic and state governments
and there’s a significant European subsidy of three million Euros to be spent on a major waste product project.
This investment helps Menorca continue to attract not just tourism, but desirable businesses too. The Ferrari Formula One team arrived on the island last week. They have picked Menorca’s Aeroclub as an ideal place to do winter testing, it has the longest private runway in Europe. Catalan driver Marc Gene will be responsible for putting a car through aerodynamic tests. Ferrari isn’t the only motor sports team to pick the island. McLaren and Honda have done their own tests there recently. And it’s all great for locals and tourists. The racing teams allow people to watch the tests from the Aeroclub’s terrace, as long as they don’t take any photos. The relaxed attitude to F1 on the island is the prime reason top teams keep coming back.
