Businesses in the Balearics have suffered thanks to a huge drop-off in the numbers of young Brits heading to Magaluf, leading to losses of up to 40% for businesses Magaluf is a ghost town, bar owners say (file) (Image: AFP via Getty Images)

Young Brits are shunning traditional coming-of-age holiday resort Magaluf , with locals now declaring they miss English money. Business owners in the Spanish party town have begged UK holidaymakers to return after suffering losses of up to 40% from last year . ‌

The Majorca resort — famed for its cheap pints, full English breakfasts and iconic bars such as Lineker's — was the go-to destination for Brits' first holidays with pals and stag and hen party hotspot for 18-30s during the 2000s and 2010s. ‌

It was dubbed "Shagaluf" due to i

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