Thanks to LANCELOT DIGITAL – The Canary Islands see how the improvement of its economy continues to recede

The Canary Islands do not expect to exceed the data recorded by their economy before the covid-19 pandemic until spring 2023, for which their Ministry of Economy has reduced the GDP growth expected for 2021 from 9 to 6.3%, a year in which the islands will have a worse time than the rest of Spain.


This was stated this Monday in the presentation of the report on the monitoring of the economic impact of covid-19 by the regional vice-councilor for the area, Blas Acosta (PSOE), who has estimated the drop in Canarian GDP in 2020 of 9,000 million euros, of 20.1%, and 40,000 million euros the drop in turnover of the archipelago’s businesses relative to last year.


By virtue of the 17 parameters that are studied to prepare this report on the pandemic economic situation, which will be followed by a new edition in September, prior to the preparation of the regional budgets for 2022, Acosta has placed the takeoff, much more faster than the rest of the State, of the Canarian economy, which relies on the recovery of its tourism, a sector that will spend a summer of 2021 pending of islanders and peninsular, given the persistence of health uncertainty in Europe.


The President of the Government of the Canary Islands, Ángel Víctor Torres, has acknowledged that with regard to the drop in GDP in the Canary Islands, this Community is one of the most affected. “The Canary Islands have fallen 20 points in their GDP and we have 10% of the entire population in ERTE.”



However, he wanted to highlight that the Canary Islands is a region that not only receives tourism in the summer months, but “we have tourists all year round.” For what there is, “we also have to have that perspective for the next few months,” Torres concluded.