In 2016, the Canary Islands economy will grow by 3.4%, according to our estimates, due to the magnificent performance of tourism. In the fourth quarter of the year, almost 25,000 new jobs will be created in the Canary Islands, ending 2016 with a net creation of 27,000 jobs (3.3%) compared to the end of 2015.
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KEYS
In 2017, GDP will grow by 2.6% and 20,000 jobs will be created. Despite the positive impulse from increased public spending and investment, These will not compensate for the lower growth in tourism, the increasing global uncertainty, generated by the beginning of Brexit negotiations, and the increase in protectionism and the unpredictability of the future economic policy of the United States.
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FORECASTS
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.
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REPORT
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