Minorca (or Menorca) is the third populous island of the Balearic Islands. Even though Minorca is less developed than the other famous Balearic Islands like Majorca and Ibiza, it still generates most of its income from tourism. Other important sectors include handicrafts, costume jewellery, footwear, ceramic pots, furniture and clothes.
Many visitors choose Minorca as it is not overly crowded and therefore it is ideal for spending relaxing holidays. Although Minorca's economic activity mainly depends on tourism, it has not gone to extreme measures to accommodate masses of tourists, as this is not the intention of this island. The local peoples' primary focus is to maintain their culture, traditions, preserve natural coves, landscapes of the island of Minorca. Minorca has been honoured by UNESCO with the 'Biosphere Reserve' award for its environmental protection efforts.
Besides tourism, cereals, wine, olive oil, flax, shoes, and gin are important products contributing to the economy. The food industry is firmly concentrated on the production of lactic goods. Lobster fishing, the export of livestock, and local light industries also have a say in the economy.
Minorca is home to several designers and brand names in the shoe-making business that gets exported globally. The leather and costume jewellery trade has developed since the 18th century, and it is also one of the important sectors of the island's economy. Minorca hosts two large trade fairs annually, where the majority of European manufacturers visit.