Consumer confidence in Lanzarote drops more than 20 points in the third quarter of the year and stands at 75 points, according to a report by the Canary Islands Institute of Statistics (ISTAC) collected by the Lanzarote Data Center.
A score between 0 and 100 represents an unfavorable perception, while one between 100 and 200 represents a favorable perception, so Lanzarote is now in the negative range of the spectrum.
This is the most abrupt drop since the arrival of the pandemic devastated the confidence of Lanzarote residents in the second quarter of 2020, when confidence marked 48.2 points.
Since then, this indicator had been gradually recovering until reaching a maximum of 110.1 points at the end of 2021, when tourism experienced a strong recovery.
Despite the sharp drop in the confidence of Lanzarote residents in economic expectations, the island maintains a more positive opinion than the average of the Canary Islanders, which is located at 67.2 points.
In fact, all the islands have a more pessimistic opinion than Lanzarote about the future of the economy, with the exception of Fuerteventura, where the Consumer Confidence Index reached 89.8 points.
The Consumer Confidence Index measures the average of the Current Situation and Expectations Indices. The first measures the economic situation of the household and the Canary Islands, as well as the opportunities to find work compared to the previous six months, and the second collects the prospects for the next six months.