In 2016, the Canary Islands economy will grow by 3.3%, according to our estimates, due to the magnificent performance of tourism, and despite the exhaustion of the main external stimulus measures.
FORECASTS
In the second half of the year 40,000 jobs will be created in the Canary Islands, to end 2016 with a net creation of 27,000 jobs (3.3%) compared to the end of 2015.
The unemployment rate will decrease to 24.3% of the labor force at the end of the year, reducing the unemployment rate below 25% for the first time since the end of 2008.
KEYS
However, the inability to form a government in Spain is slowing economic growth, with an estimated impact on the Canary Islands of 0.6 p.p. in 2016, which would grow at rates close to 4% if a government with the capacity to make economic decisions had been formed, which would have meant creating almost 5,000 more jobs.
REPORT
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