Canarias Economic Outlook 2020
Published on Tuesday, March 10, 2020 | Updated on Tuesday, March 10, 2020
Canarias Economic Outlook 2020
After growing 2.4% in 2018, the economy of Canarias could have grown by 1.5% in 2019. It will advance by 1.1% in 2020 and 1.8% in 2021, reducing the unemployment rate to 19.3% in 2021. This would lead to the creation of 38,000 jobs in the biennium, but the risks are down
Key points
- Key points:
- The economy of Canarias could reduce the unemployment rate to 19.3% in 2021
- The less vigorous economy, together with a relatively more dynamic demography, will slow down the progress of income convergence during this biennium
- Various sources of uncertainty, external and internal, bias the scenario downwards. Duration of coronavirus shock may be key for the tourism sector
Documents to download
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Authors
Geographies
- Geography Tags
- Canary Island
Topics
- Topic Tags
- Regional Analysis Spain
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