Excelcan presents together with the Chamber of Commerce of Gran Canaria the first report on the situation of the Tourism Sector in the Canary Islands

Excelcan and the Chamber of Commerce of Gran Canaria sign an agreement for the periodical elaboration of tourism reports that will analyze the key aspects that influence the tourism outlook in the Canary Islands.

You can read the report here:

Excelcan, the Association for Research, Study and Excellence in the Tourism Sector in the Canary Islands, and the Official Chamber of Commerce, Industry, Services and Navigation of Gran Canaria, have signed an agreement for the regular production of tourism reports that will analyze in detail the key aspects that influence the tourism outlook in the Canary Islands and have a direct impact on the region’s economy and development. In addition, the first report, corresponding to the last quarter of 2023, was presented on Tuesday, February 27.

The event featured speeches by the president of the Chamber, Luis Padrón, and the president of Excelcan and the Chamber’s Tourism Commission, Santiago de Armas Fariña, and José Carlos Francisco, president of Corporación 5.

In the words of the president of the Chamber

“The intention is to provide companies in the sector with a solid and up-to-date information tool that will enable them to anticipate trends, identify opportunities and address challenges more effectively. We thank Excelcan for its collaboration in this joint project and hope that this strategic alliance marks the beginning of new projects and agreements for the benefit of our tourism sector.”

For his part, Santiago de Armas explained the main objective is to “highlight the relevance of tourism economic activity in the Canary Islands by giving visibility to relevant data, providing comprehensive information so that we all fully understand the impact and value of tourism activity”. In addition, we seek to “identify and proactively address any distortions that may arise, proposing effective solutions to ensure accurate and useful analysis,” he said.

The report puts on the table a series of data, pointing out that the Canary Islands have experienced a notorious growth in the last quarter of 2023, with an increase of 10.9% in the number of tourists compared to the same period of the previous year. In total, 16,210,911 tourists visited the islands in 2023. In addition, there was a significant 16% increase in tourist spending during this period.

According to the report, the good performance of the business is reflected in an increase in turnover in 71% of Excelcan’s associates. This good turnover rhythm has materialized in a higher investment and an increase in the number of hired personnel in 42.9% of the associates.

Tourism prospects

Business expectations predict a remarkable dynamism in tourism activity in the first three months of 2024. Specifically, the businessmen of the tourist activity in Spain expect a growth of 9.7% in their sales with respect to the first quarter of 2023 based on the trend observed in the last months, boosted by the celebration of Easter in March and the context of perceived insecurity of the competitors with eastern Mediterranean activity during the winter.

The report notes that the Canary Islands are set for a prosperous 2024, anticipating an 8.2% increase in activity levels compared to the previous year. This optimism is attributed to the continued dynamism of both European and domestic demand, the firm commitment of tour operators to the islands, the significant investment in product improvements made during the pandemic, and their consolidated positioning as a safe destination against competitors in the eastern Mediterranean, especially during the winter season.

Despite these encouraging prospects, partners identify significant challenges. A shortage of adequate labor is identified by 85.7% of the partners as the main limiting factor. To a lesser extent, increased competition (28.6%) and weak demand (14.3%) are also mentioned as factors of concern. It is important to note that the following factors are considered of lesser importance

You can read the report here:
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