PRLog - July 28, 2014 - GOLF DEL SUR, Spain -- The Canary Islands are feeling a new wave of business and economic revival thanks to the success of various initiatives brought on by the local and national Governments. A recent report from the National Institute of Statistics (INE) stated that business dissolution has dropped by a whopping 32.3% in just one year; accounting for the largest drop in business failures for any region in Spain. This means that only 65 businesses actually failed in March in the whole Canary Islands, while 344 new ventures were started.
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There is never one single reason for any success; this recent boom in the Canaries, and in particular, Tenerife, seems unexpected to outsiders; after all, Spain still has relatively large unemployment numbers (though they have always had comparatively low employment compared to the rest of Europe), and package holidays are dwindling.
However, it is a combination of both the Local Canarian and National Spanish Governments' efforts that have made Tenerife and the rest of the islands as bustling with business and investment opportunities as they are now.
On one hand, the National Government put in place a number of austerity measures earlier in the year that are improving the conditions of setting up a business; there are social security deductions, tax deductions, and new laws to protect the financial security of business owners (read up on them here: http://www.tenerife-
From the other side of the fence, the Local Canarian Governments have been slowly working and lobbying to improving the kinds of tourism each island receives since the beginning of the recession. Fine culture is replacing cheap lager due to the tourism board's successful campaigning to source a richer clientele for the island. Boy, is it working, too; tourists spent 10.5 billion in the Canaries alone last year; which represented nearly a fifth of all tourist spending in Spain in 2013.
But are the Canary Islands really thriving? We will let the latest statistics speak for themselves; the first four months of 2014 broke all previous records; where for the first time in history, over 4 million tourists visited the Canary Islands (4 077 759 exactly) – accounting for an average of over 1 million visitors a month. Indeed, it seems the Canaries are quickly becoming Spain's tourism capital; knocking all other regions out of the water in terms of both domestic and foreign tourists – increasing 22.1% since last year in April (as opposed to 13.2% in the rest of Spain). Tenerife is by far the most popular destination out of all the islands, representing almost half of all of the visitors to the Canaries (518 310 in January this year).
In the monthly calculation, captured in April, the Canaries accounted for 18.2 % of all foreign tourists arriving in Spain. All the major source markets of tourists to the islands recorded double-digit growth , in all cases higher than 15%. The proportion of domestic visitors was caught well above the sum of the first four months of the year to the other autonomous regions, reaching 26.6 %. And even though hotel prices have risen more than in any other region in the past year (by an average of 7.8%); hotels in the Canaries enjoyed the largest room-occupancy rate in the whole of Spain, according to April's statistics – 70.4%!
If you would like to read up on Tenerife and its latest news and market statistics, or enquire about any businesses for sale in Tenerife, then please visit http://www.tenerife-