LEGAL AND ECONOMIC
SECURITY

Tenerife is part of the world’s 14th largest economy and the 6th largest economy in the Eurozone.

Fully integrated into the European single market, with all the guarantees of legal certainty, 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 companies 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 foreign-owned companies have established themselves in Tenerife over the past decade, with a significant impact on the local economy, generating 13,500 jobs. Companies from 36 different countries have set up operations on the island, with investments reaching €269 million, contributing positively to per capita investment.