Lopesan has been granted permission to build a five-star hotel in Maspalomas. The plans include 249 rooms and an investment of 41.6 million euros.
The economy of the Canary Islands
The Canary Islands‘ economy is fragile. Unemployment is correspondingly high. Below you will find the latest economic news from the Canary Islands:
Unemployment in the Canary Islands fell in September. New figures detail sectors, new contracts and expenditure on unemployment benefits.
A cap on hire cars is intended to ease congestion on the roads in the Canary Islands. The restriction would mainly affect tourists.
In July, 2,106 new mortgages were taken out in the Canary Islands. At the same time, house prices continue to rise.
The Canary Islands' Ministry of Tourism is revising its strategic support plan. New grants for businesses and employees may be available.
The Economy of the Canary Islands
All the key business news from the Canary Islands can be found here.
Flats in the Canary Islands are more expensive than ever: in the second quarter, the price per square metre rose by double figures once again.
In July, the Canary Islands sold just under three-quarters more bananas. However, overseas markets remain cautious about the Canary Islands' fruit.
The Canary Islands Government has approved the agreement for the second phase of the modernisation of Puerto de la Cruz. Here's what's behind the plan.
Further important information on the following topics
- Property in the Canary Islands
- Tourism in the Canary Islands
- Inflation in the Canary Islands
- Political news from the Canary Islands
Runways are a source of division between AENA and the Canary Islands Government. New runways are being called for, but the current bottleneck lies in the terminal.
No company has come forward to undertake the 500-million-euro refurbishment of Tenerife's main airport. Politicians are now applying pressure.
The Hiperdino supermarket chain is celebrating its 41st birthday with prize draws and special offers. The company has organised these events in the Canary Islands.
Currently popular:
There's no shortage of celebrations in Tenerife's capital. A record budget has been set aside for this purpose next year. Here it is.
Diesel prices in the Canary Islands are higher than they have ever been since records began. We've done the legwork for you and know where to find the 'bargains'.
In August, consumer prices in the Canary Islands rose for the seventh month running. At least unemployment is falling.
Fuel prices in the Canary Islands are continuing to rise. Premium petrol is now at its highest level since September 2022. Here are the prices and some tips on filling up.
The electric car market is picking up in the Canary Islands. In August, dealers sold 82 per cent more electric cars than a year earlier. There are reasons for this.
Property prices in the Canary Islands are rising significantly. The price per square metre has broken through a key threshold. Prices have been rising for a good 12 years.
In the Canary Islands, the number of long-term unemployed has fallen to 63,326. One island stands out in particular.
Two regions on Lanzarote are to be modernised. The Canary Islands aim to make these regions, which are important for tourism, more attractive. The plan.
In the Canary Islands, the average weekly share of green electricity stood at 28.5 per cent. The daily peak even reached 38.2 per cent.
In the Canary Islands, workers put in more than 29,000 hours of unpaid overtime - every week. This is particularly the case in this sector.
Diesel has become more expensive in the Canary Islands. The increase was greatest on La Palma. The price rise is just under 30 cents.
Delays and safety issues in flight operations are a possibility in the Canary Islands ahead of the peak season. The reason: a shortage of air traffic controllers.
Prices per square metre in the Canary Islands are higher than ever. However, the market is changing. Here are the record price and the change.
Just under a third more mortgages have recently been registered in the Canary Islands. Rising house prices are prompting more local residents to buy their own homes.
The share of green electricity in the Canary Islands has fallen further. The islands now account for just over a fifth.
Fuel prices in the Canary Islands remain high. Diesel prices continue to rise, whilst petrol prices are stabilising. We tell you where it's worth filling up.
Bananas were the driving force behind the Canary Islands' economy in June. One Canary Island in particular is once again seeing strong growth.
In the Canary Islands, the proportion of green electricity has fallen significantly. The output of renewable energy is currently fluctuating considerably.
Car registrations are on the rise again in the Canary Islands. On one island, the figure rose by 163 per cent. We take a closer look.
Tomato growers in the Canary Islands were paid just 1.06 euros per kilo in June. That is 39.8 per cent less. Potatoes became more expensive.
Diesel is becoming increasingly expensive in the Canary Islands, whilst the price of petrol remains consistently high. There are significant price differences between the islands.
The housing crisis in the Canary Islands is, in part, a home-grown problem. In future, delays in the granting of planning permission should no longer hold things up.
Inflation in the Canary Islands has reached 3.4 per cent. The price index rose to 103.62 points. This has consequences for residents and tourists.
Steaks could become scarce in the Canary Islands. The western islands are experiencing a 'meat shortage'. Here are the reasons why.
1.8 billion euros are being invested in the Canary Islands' airports. Politicians are celebrating. Instead, criticism of Aena would be warranted.
Whilst it may be in keeping with the spirit of the times, not every misstep can be put down to tourism. A bit of self-criticism would be in order.
Tenerife has lost three long-established venues in one go. The Café de Paris, El Pingüino and the Columbus Plaza have all closed their doors.
When it comes to investment, the Canary Islands are quick to make demands. But please, let's do that somewhere else.
A third of Canary Islands wine is exported to the US. The special tariffs announced by Donald Trump would hit the islands hard.
The Canary Islands and the US shopping capital will retain their direct flight. Tenerife South and New York will therefore remain connected.
70 campers have blocked a popular road on La Palma. Here's what it looked like and what's behind the protest.
Are you thinking of moving to the Canary Islands? Our expert explains what you need to bear in mind to avoid a rude awakening.
The restaurant scene on Tenerife is becoming increasingly successful. Two establishments have joined the exclusive ranks of Michelin-starred restaurants.
The Taoro Hotel in Tenerife once hosted exclusive guests. Then things went quiet around the prestigious building in Puerto de la Cruz. Until now.
The consumer price index in the Canary Islands is once again close to the ECB's target. Here are the reasons - and the outlook.
Uber, the taxi alternative, is launching in the Canary Islands. Initially, the ride-hailing service will be available in parts of Tenerife. The plan is to expand from there.
Timeshare sounds like an attractive alternative to buying. Or so it seems. Because the devil is in the detail. That's what consumer protection organisations say.
Petrol has become cheaper again in the Canary Islands. Here are the current price and the forecast for future trends.
The project has been doing the rounds for decades. Now Tenerife is getting serious about it. Millions are to be invested in a racetrack.
Tenerife is heavily reliant on tourism. The economic crisis hit the island hard. But things are looking up again now. All the details.
The Economy of the Canary Islands
The Canary Islands are heavily dependent on tourism. At around 40 per cent, the islands‘ gross domestic product depends largely on the tourism sector. Another important sector of the economy is agriculture. You can find all the economic news from the Canary Islands on these and other topics at the top of this page.