«The economy of Tenerife maintained a high dynamism in the first quarter of the year despite being a period in which seasonality, after the Christmas season, causes quarterly declines in some activity indicators every year and employment which, in no case, have meant a setback in annual terms”. This is indicated by the Chamber of Commerce of Santa Cruz de Tenerife in his latest Bulletin on the Island’s Situation, in which he points out that Social Security affiliates grew by 4.8% year-on-year and stood at 381,031.
«The beginning of 2023 has been marked by a favorable evolution of the Social Security affiliation and an improvement in the business confidence indicator, revealing the economic strength of the Island at the present time,” the entity said in a note. Affiliates grew at a rate of 0.3% quarterly, which means 1,226 more employed than in December 2022, and of the aforementioned 4.8% in the last year, until reaching the total number of affiliations on the Island at 381,031. 17,294 more than those existing in March 2022.
«In both periods, the behavior is better than the regional average, where the variations were 0.2% in the quarter and 4.7% in the last year. Thus, Tenerife registered the highest number of affiliations until March of all the islands of the Archipelago, representing 43% of the total affiliates of Canary Islands», adds the note.
13.2% of businessmen stated that their hiring had increased in comparison with the last quarter of 2022; 76.6%, which had kept them stable, and only 10.2% revealed setbacks in their workforces during the first three months of the year. “Good data that allowed us to maintain significant levels of consumption, despite the fact that inflation did not stop putting pressure on the pockets of the people of Tenerife,” says the Chamber of Commerce.
«One of the indicators that reveals this strength is the sale of passenger cars, which, far from being reduced, grew significantly, both if the comparison is made with those made in the fourth quarter of 2022 (12.3%) and if they are compared with the sales of the first quarter of 2022 (44.2% ); Growths that exceed those of the Canary Islands as a whole in both periods, “says the note. In the first three months of the year, 6,199 passenger cars were registered in Tenerife, 677 more than in the last quarter of 2022 and 1,901 more than those registered in the first quarter of 2022.
The total number of foreign and national tourists who entered Tenerife in the months of January to March 2023 amounted to 1,719,545, a record for the Island.
