The Canary Islands will once again be in 2023 the second autonomous community where the economy will grow the most with a rate of 2.2%, according to forecasts published by the Savings Banks Foundation (Funcas). The first will be the Balearic Islands, where economic growth is expected to be around 3.3%.
Despite this, and the 10% growth estimated for 2022, Funcas warns that the region will still not recover to pre-pandemic levels given the punishment suffered in 2020 due to zero tourism.
Last year the improvement in tourism increased the number of international tourists received to 93.8% of the 2019 figure, while domestic tourists, according to overnight stays, would have already exceeded the figures prior to the outbreak of the virus.
Total normalization of international tourism is anticipated for this year, the statement indicates. As with the Balearic Islands, despite not being one of the regions where the gap is greatest in this area, its high weight in GDP will mean a greater contribution to growth.
The labor market will have a favorable evolution, with a decrease in the unemployment rate to 16.9% from 17.6% in 2022, the year in which it registered the largest reduction in the unemployment rate (5.6 percentage points).
