The Business Year

Lorenzo Fluxá

SPAIN - Economy

Lorenzo Fluxá

President, APD Balearic Islands

Bio

Lorenzo Fluxá, with a degree in economics and business administration (INEDE), an MBA from Instituto de Empresa, and a post-graduate degree in marketing from Kellogg, joined the family business in 2003. He is part of the fourth generation of the Fluxá family, whose business origins date back to 1877, with a presence in the footwear sectors through the companies Lottusse and Camper as well as in the tourism sector through the Iberostar Hotels and resorts chain. Since 2019, he has held the position of President of APD for the Balearic Islands.

Working to foster cooperation and boost the synergies of its members, APD Balearic Islands has been able to encourage public and private collaboration to Mallorca’s benefit.

How does APD Balearic Islands bring together the region’s business community to promote its social and economic growth?

APD is an association working toward the progress and development of the Balearic Islands since 2008. A national association, it began in Madrid, and then extended to other regions of Spain. In the beginning, APD Balearic Islands was connected to APD Catalonia. However, our islands grew in prominence and new associates were added, whereby the association gained traction to be independent about eight years ago. APD is dynamic organization that organizes events, conferences, and training, including in-house training for its members. Its objective is to further develop the business community of the islands and serve as forum in which to meet, discuss, and network.

The association is working to raise the level of engagement of businesses in the region in social and environmental matters. What is your assessment of this?

At a national level, APD sends guidelines on social and environmental responsibility. I believe that APD Balearic Islands has the autonomy to choose its content, and at the regional level we are also opting to advance these topics and raise awareness among our members. In addition, our members are active in proposing new ideas, and highly engaged in contemporary issues, such as ecological and social responsibility.

What is the nature of collaboration between private and public sectors to drive the local economy for the long run, especially in tourism?

The Balearic Islands, no doubt, are dependent on tourism, and there is a major challenge to address the implications of this. Public and private investments, including the upcoming EU funds, need to be apportioned so as to rethink tourism in the islands and make it as competitive as possible, while paying attention from a sustainable perspective. Therefore, public and private stakeholders need to collaborate, and Mallorca provides a good example of this. That said, the process of economic transformation and diversification takes time. We have to be smart so that the Balearic Islands can be an exemplary and desirable destination. This will help us compete with Mediterranean destinations beyond Turkey, Greece or Croatia, and set our sights on high-end cities such as Monaco or Cannes.

What other sectors attractive to investors could be developed further on the islands?

I believe that the strength of the Balearic Islands is its advantageous geographical location, as well as its political stability and international nature. Many people have their second homes here, which makes it a perfect place to live abroad, while working remotely, as we have observed during the pandemic. So, it is safe to say that this would have a knock-on effect on the wider local economy. Mallorca’s tourism is no doubt the largest part of its economy, to which may be added construction and restoration; most of this is mainly connected to tourism. Yet, it could also become a hub for marine and environmental projects, for example. The nautical sector, high-end construction, healthcare, or the circular economy could also prove attractive for the investor. At the end of the day, APD is a platform in search of associates from all sectors. The good thing about such an association is that it offers networking opportunities for those who are already in Mallorca and those keen to come.

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