Legal and economic security

LEGAL AND ECONOMIC
SECURITY

Tenerife is part of the world's 14th largest economy and is the 6th largest economy in the Eurozone, showing signs of growth in the post-pandemic years 2021 and 2022.

Fully integrated into the European single market, with all the guarantees of legal security, Tenerife offers competitive labor and operating costs in a low-risk environment.

Economic growth

The positive economic growth of the island is mainly due to its modern and flexible business system; and its economic and competitive transparency, which is in the process of diversification.

Diversity of new industries

Sectors related to energy and water, cultural industries, light industries, advanced professional services and digital enterprises have been gaining ground in recent years.

82,1%

Services

9,5%

Construction

4,7%

Industry

3,7%

Primary sector

+200 foreign companies

Nearly 200 companies with foreign capital have settled in Tenerife in the last decade, with a significant impact on the local economy, generating 13,500 jobs. Companies from 36 different countries landed with their operations on the island with investments that reached 269 million euros, with a positive impact on investment per capita that went from €95 before the pandemic to €293 per capita post covid-19.