HiperDino generated 2.50% of the Gross Domestic Product (GDP) of the Canary Islands in 2022. These and other figures are some of the data provided by the ‘Study of the impact of HiperDino on the Canary Islands’ society’, drawn up by the consultancy firm Corporación 5.
The CEO of DinoSol Supermercados, Javier Puga, and the president of Corporación 5, José Carlos Francisco, met to analyse the results revealed in this report, such as the impact of the company on employment, which represents 3.02% of the employed population.
The meeting was also attended by the director of HiperDino’s Financial Department, Aridani Ramírez; the director of Corporación 5, José Miguel González, and the senior consultant Sandra Hernández. The chain contributes economically to Canary Islands society through three different channels: income, employment and production.
The economic impact of HiperDino amounted to 1,191.39 million euros in income, of which 194.51 million was direct impact; 658.85 million corresponded to indirect impact, and 338.03 million to induced impact.
In addition, the knock-on effect meant that for every euro of income generated by HiperDino, 5.13 euros of income were generated in the Canary Islands economy.
In terms of employment generation, the impact amounted to 29,916 full-time equivalent jobs, representing 3.02% of the employed population in the Canary Islands. The generation of employment was more than 75% due to the activity of the chain and its suppliers; while the induced effect contributed 23.68%.
Its knock-on effect amounted to 22,036 full-time equivalent jobs. Thus, one job generated by HiperDino generated 2.79 full-time equivalent jobs in the Canary Islands economy.
Production measured at basic prices was 3,018.99 million euros, of which 82.55% was due to the activity of HiperDino and its suppliers and the remaining 17.45% to the induced effect.
This meant that the production generated by HiperDino in the rest of the Canary Islands economy amounted to 1,599 million euros and that, for every euro produced by the chain, 1.13 euros were produced in the rest of the Canary Islands economy.
All this shows the importance of HiperDino for the economic and social fabric of the Canary Islands.