The Canary Islands’ economy has experienced strong growth since the pandemic and is now among the most buoyant in the country. At CaixaBank Research, we forecast GDP growth of 3.1% in 2025 (2.8% in Spain), mainly thanks to the upturn in tourism, which also boosted job creation and consumer spending.
More than three months into the conflict in the Middle East, the effects of the supply shock triggered by the surge in energy prices will now become increasingly evident in the inflation and growth data. The combination of uncertainty and resilience that has characterised the recent behaviour of the global economy makes for a fragile balance, especially with geopolitical risk remaining so high.
