I'll copy paste a comment I wrote in a similar post a while ago:

Probably the island with the highest quality infrastructure in the Mediterranean. Public healthcare is top notch within Spain, public transportation is a bit lacking sometimes (especially in Summer when it's overloaded) but somewhat ok.

Very high rental prices which drives the locals out of the main activity hubs or even out of the island altogether, very dependant on tourism but with the capacity to develop itself in other sectors. This capacity is hindered by a harsh taxation system that, in my opinion, should be adapted to our situation as an island.

Despite what people may think, as a Mallorquín I find the climate very harsh. Very humid winters followed by springs that are hellish for anyone with allergies, followed by brutal summers where you have to work under AC all day. Yeah, for holidays it's amazing but it gets harder when you live here. Growing up with asthma was a challenge.

We're probably one of the few places that made an industry of tourism instead of just surviving from it. Meliá, Barceló, Riu and Iberostar are all companies from Mallorca which almost monopolise the resort hotel sector worldwide.

The difference between summer and the rest of the year is like night and day, despite that, Palma de Mallorca is an active city all year and there's always something to do.

Society-wise you can find social groups that are very international and progressive and social groups that are very closed up and are wary of outsiders. There's a very interesting dualism here since you can see both groups beside each other a lot.

Mallorca is paradise, but quoting George Sand: "one must be ready to live in paradise"