canary islands

Nearly twenty foreign companies interested in investing in the Canary Islands

The President of the Canary Islands, Ángel Víctor Torres, and Elena Máñez, Regional Minister of Economy, Knowledge and Employment, participate in the presentation to review the results of one of the campaigns to attract investment to the Canary Islands.

A total of 19 companies from sectors such as Information and Communication Technologies (ICT), aeronautics, renewable energies, media or health and wellness have shown interest in the different investment opportunities offered by the Canary Islands.

In this sense, the Canary Society for Economic Promotion (Proexca) has promoted in recent days a conference of the Canary Society for Economic Promotion, during which they were received by the President of the Canary Islands, Ángel Víctor Torres, and the President of Proexca and Minister of Economy, Knowledge and Employment, Elena Máñez.

According to the regional government, the visit was the last phase of a campaign entitled ‘The Canary Islands, the best kept secret for doing business’.

Thanks to this campaign, 377 representatives of companies from strategic sectors were contacted in person, in addition to more than 2,400 who followed the meetings organised in the cities of Mallorca, Valencia, Malaga, Vigo, Barcelona and Madrid on-line.

Here, President Torres emphasised that “the six cities with the greatest potential for companies in the sectors that are most attractive for the diversification of the Canary Islands’ economy”.

The president highlighted the clear economic and employment recovery in the Canary Islands and, in the context of the visit of foreign businessmen, stressed that the islands are increasingly attractive for investment here, as evidenced by the 170% increase in foreign investment compared to last year, according to Datainvex.

Meanwhile, in the case of the companies registered by Proexca, which include those from the mainland, their investment in 2022 was almost 10 times higher than that obtained in 2019, reaching 381 million euros, which is why Torres valued the work of Proexca in disseminating the attractions of the Canary Islands when it comes to investing and the support it provides to interested companies.


For her part, the Councillor insisted on the work of the public company in attracting and monitoring investment, and explained the new orientation of the actions to attract investment from abroad, through the biennial plans developed by Proexca.

She also highlighted the design of specific actions by strategic sectors, such as audiovisual or ICT, and the new programmes “such as Aftercare, with which we continue to be at the disposal of foreign companies beyond their establishment on the islands, which often takes years, in which Proexca informs, advises and helps them with the necessary procedures and formalities to materialise their investment in the islands”.


According to data from Proexca, 58 companies were established in 2022 (16 more than in 2021), with a potential investment of 381 million euros (78 more than in 2021) and the creation of 746 direct jobs (130 more than in 2021).

Therefore, these figures represent the largest establishment of companies and the largest investment registered by Proexca in the entire historical series.

In 2022, the Audiovisual, Animation and Cultural Industries sector stands out in particular, with 23 of the 58 companies (40%), 422 of the 746 jobs (57%) and almost 319 of the 381.3 million invested (84%).

Here, if we add the 7 companies, 108 jobs and 108 million from video games, we can see how the sector (especially digital) is dominating the installation of companies on the islands: 52% of the companies (30); 71% of the jobs (530) and almost 96% of the investment (364 million euros).


On the other hand, Datainvex, the official platform of the Ministry of Tourism, Industry and Trade, only registers foreign investment made directly in the Canary Islands (if it is made by a foreign company with its tax headquarters in another Autonomous Community, it is counted there) and confirms the good progress of investment in the islands.

Although so far we only know the quarterly data up to September, the almost 236 million euros recorded is the highest figure since 2004.

By countries, Germany with 56.6 million euros, the USA with 55.7 million euros and Ireland with 35.8 million euros are the main investors and, by sectors, the most important ones are Passenger Shipping (125 million euros), Rental of means of navigation (56.3 million euros) and Computer Programming (30.7 million euros).

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