Tenerife Economy and Business

• GDP: US$52.2 billion (Canary Islands) (2005).
• Main imports: Vehicles, mechanical and electronic equipment, medical and pharmaceutical supplies.
• Main exports: Bananas, tomatoes, flowers, ornamental plants and refined petrochemicals.
• Main trade partners: France, Germany, Italy, UK and Portugal.

Tourism is by far the greatest driving force of the island's economy. With over five million visitors a year, the hospitality industry and service sector represent almost 80% of Tenerife's productive capacity.

Bananas are the main crop produced by the agricultural industry, with just over 90% of produce going to the mainland. In fact, the Canary Islands are the largest banana producer in the EU. The next most important crop is tomatoes, followed by potatoes, flowers and ornamental plants and vines.

Business people are generally expected to dress smartly. English is widely spoken in the resorts but less so in the smaller towns and villages. Some knowledge of the Spanish language is always appreciated and sometimes essential.

Office hours: Tend to vary considerably but base hours of 0900-1330 and 1700-1900 are fairly typical.

Many of the larger hotels have comprehensive conference centres. There is also a number of dedicated convention centres both in the north and south of the island.

Tenerife Convention Bureau
Calle Alcalde Jose Emilio Garcia Gomez 9, 38005 Santa Cruz, Tenerife
Tel: 902 321 331.
Website: www.webtenerife.com

Magma Art and Congress Centre
Avenida de los Pueblos, 38660 Costa Adeje, Tenerife
Tel: 922 793 987.
Website: www.magmacongress.com 

Spain Convention Bureau (FEMP)
Calle Nuncio 8, 28005 Madrid, Spain
Tel: 913 643 700.
Website: www.femp.es