The Canary Islands' GDP will grow by 7.8% this year, which will be the second best national result, after that of the Balearic Islands, which will increase by 9.9%, according to Funcas, a center for analysis dedicated to economic and social research and its dissemination.
The expected growth of the Canary Islands' economy, which recovered 7% in 2021, will take place, according to this institution, thanks to the normalization of tourism, both national and international.
However, it emphasizes that, despite this, the archipelago will be the region furthest from reaching its pre-pandemic GDP.
Funcas recalls that in 2020 the Canary Islands was, after the Balearic Islands, the community that suffered a more intense drop in GDP, of 18.1%, due to the high weight of tourism in its economy and, especially, international tourism, only below the Balearic community.
In addition, it estimates that the unemployment rate will be 19.7%, slightly below that of 2019.
