The social economy drives Inca: it already generates more than 12% of its wealth

PalmA study by the Intercoopera Foundation has highlighted the significant role of the social and care economy in Inca, one of the largest municipalities in the Balearic Islands. This report challenges common perceptions about the islands' economic drivers and demonstrates the importance of a sector centered on the collective interests of its citizens. In Inca, the social economy generates 12.37% of the municipality's annual wealth, amounting to €58.5 million annually. 69% of the municipality's organizations focus their activities on care and support for people in vulnerable situations. In terms of employment, this sector represents 13.75%, with 1,170 employees. These employment figures place the social economy on par with construction and far ahead of sectors like retail and hospitality. The report notes that it "is five times the size of the traditional footwear industry."

Regarding the ratio of workers per company, the social economy sector has 36, while the ratio is 6.2 workers in the real estate sector and 6.8 in construction. Furthermore, these figures do not include volunteers, who number over a thousand in the capital of the Raiguer region.

"This is a highly regulated sector, where the underground economy doesn't exist and where social responsibility is an integral part of how these initiatives operate," the report emphasizes. It details the two main profiles of hired workers: on the one hand, "qualified technical staff with higher education, working under very favorable conditions," and on the other, "with decent pay." "These initiatives prioritize serving vulnerable individuals and groups, and they carry out this work very efficiently, while generating a high volume of economic activity and high-value employment, with a significant return to the municipality, both socially and financially," it adds. The report points out that, in addition to the growth the social economy has experienced in recent years, it is a sector with great potential "if a specific public policy to promote it is implemented."