Producing a successful city. neoliberal urbanism and gentrification in the tourist city. The case of Palma (Majorca)

Abstract

[eng] Since the 1990s, the intensification of capital accumulation, especially in its financial dimension, has been one of the keystones for the triumph of neoliberalism. Spanish neoliberal policies have focused on the flexibilization of the real estate sector, leading to the specialization in the secondary circuit of accumulation. This has generated a third real estate boom which has been accompanied with an outstanding housing bubble. The Balearic Islands are a paradigmatic case within these logics, tourist specialization being the main trigger of the process. In Palma, the region's capital, neoliberal urban planning policies have been implemented in order to convert it into a 'successful city' within the global urban network competition. These policies have led to Palma's uneven geographical development through processes like gentrification, as is the case of the Gerreria, a neighborhood of Palma's city center.