Economy, jobs and prices in Tenerife (Canary Islands, Spain): official figures
GDP per person was 27,400 purchasing power standards (PPS) in 2023, 71% of the EU average (91% for Spain); 43rd highest of 59 provinces in Spain.
How big is the economy of Tenerife?
The local economy produced €23.3 billion of output (GDP) in 2023.
Source: Eurostat · saved copyHow many people work in Tenerife?
About 385,400 people worked in Tenerife in 2023 (employment by place of work).
Source: Eurostat · saved copyWhat is the average income in Tenerife?
Net income averaged €14,203 per resident on the island of Tenerife in 2024, 89% of the Spanish average of €15,948 and 18th lowest of Spain's 59 provinces and islands.
Source: Instituto Nacional de Estadística (INE) · saved copyHow fast are incomes growing in Tenerife?
Net income per person in Tenerife rose 6.9% between 2023 and 2024 and has grown 56% since 2015 (from €9,112); that growth ranks 7th fastest of 56 among the provinces and islands with figures back to 2015.
Source: Instituto Nacional de Estadística (INE) · saved copyWhat is the average household income in Tenerife?
Households on the island of Tenerife took home €37,823 a year on average in 2024; before income tax and social security contributions the figure was €45,605. The national household average was €40,605.
Source: Instituto Nacional de Estadística (INE) · saved copyWhat is the median income in Tenerife?
Median income per consumption unit, which adjusts for household size, was €18,550 in Tenerife in 2024 (Spain: €19,950), 21st lowest of 59; the mean was €21,326, so the median sat 13% below it.
Source: Instituto Nacional de Estadística (INE) · saved copyWhat is the main industry in Tenerife?
The largest part of the economy of Tenerife in 2023 was trade, transport, hospitality and communications, at 34.2% of gross value added, followed by finance, property and business services (26.5%).
Source: Eurostat · saved copyHow industrial is Tenerife?
Industry (manufacturing, mining and energy) made up 6.6% of output in 2023, against 16.1% for Spain.
Source: Eurostat · saved copyHow fast is the economy of Tenerife growing?
Gross value added rose from €16.5 billion in 2015 to €21.9 billion in 2023 in current prices, an increase of 33% before inflation.
Source: Eurostat · saved copyWhat jobs do people do in Tenerife?
Of the 385,400 jobs located in Tenerife in 2023, 34% in public services, education, health and other services, 5% in industry and 2.5% in farming, forestry and fishing.
Source: Eurostat · saved copyAre jobs growing in Tenerife?
The number of people working in Tenerife rose by 17.0% between 2015 and 2023, to 385,400.
Source: Eurostat · saved copyMore figures
- Within the Canary Islands, net income per person in Tenerife (€14,203 in 2024) was 2% below the regional average of €14,550, 2nd lowest of the region's 7 islands. Source: Instituto Nacional de Estadística (INE) · saved copy
- The median income per consumption unit in Tenerife went from €11,550 in 2015 to €18,550 in 2024, a rise of 61%. Source: Instituto Nacional de Estadística (INE) · saved copy
How Tenerife compares with other provinces in Spain
Net income per person (2024)
Tenerife ranks 42 of 59, highest first.
| Rank | Area | Net income per person |
|---|---|---|
| 39 | Lanzarote | €14,479 |
| 40 | Ávila | €14,402 |
| 41 | El Hierro | €14,374 |
| 42 | Tenerife | €14,203 |
| 43 | Albacete | €13,873 |
| 44 | Sevilla | €13,827 |
| 45 | Fuerteventura | €13,807 |
Median income per consumption unit (2024)
Tenerife ranks 39 of 59, highest first.
| Rank | Area | Median income per consumption unit |
|---|---|---|
| 36 | Fuerteventura | €18,550 |
| 37 | La Palma | €18,550 |
| 38 | Ourense | €18,550 |
| 39 | Tenerife | €18,550 |
| 40 | Zamora | €18,550 |
| 41 | Albacete | €17,850 |
| 42 | Ávila | €17,850 |
Growth in net income per person since 2015 (2015-2024)
Tenerife ranks 7 of 56, highest first.
| Rank | Area | Growth in net income per person since 2015 |
|---|---|---|
| 4 | Lanzarote | 58.1% |
| 5 | Menorca | 57.2% |
| 6 | El Hierro | 56.1% |
| 7 | Tenerife | 55.9% |
| 8 | La Gomera | 55.3% |
| 9 | Fuerteventura | 55.1% |
| 10 | Córdoba | 54.8% |
Share of output from industry (manufacturing, mining and energy) (2023)
Tenerife ranks 49 of 59, highest first.
| Rank | Area | Share of output from industry (manufacturing, mining and energy) |
|---|---|---|
| 46 | Madrid | 8.6% |
| 47 | El Hierro | 7.4% |
| 48 | Gran Canaria | 7.1% |
| 49 | Tenerife | 6.6% |
| 50 | La Palma | 6.1% |
| 51 | Málaga | 6.1% |
| 52 | Almería | 6.1% |
Share of output from finance, property and business services (2023)
Tenerife ranks 6 of 59, highest first.
| Rank | Area | Share of output from finance, property and business services |
|---|---|---|
| 3 | Málaga | 29.0% |
| 4 | Barcelona | 29.0% |
| 5 | Alicante/Alacant | 26.7% |
| 6 | Tenerife | 26.5% |
| 7 | Bizkaia | 26.2% |
| 8 | Tarragona | 26.0% |
| 9 | Valencia/València | 25.9% |
Share of output from public administration, education, health and other services (2023)
Tenerife ranks 14 of 59, highest first.
| Rank | Area | Share of output from public administration, education, health and other services |
|---|---|---|
| 11 | Granada | 26.9% |
| 12 | Gran Canaria | 26.8% |
| 13 | Cáceres | 26.4% |
| 14 | Tenerife | 25.8% |
| 15 | Salamanca | 25.8% |
| 16 | León | 25.6% |
| 17 | Sevilla | 25.2% |
More on Tenerife: overview · poverty and living standards · government budget · Canary Islands · Spain
Sources
- Eurostat: Eurostat dataset nama_10r_3gdp: GDP per person, PPS (NUTS 3), read 23 October 2026 · saved copy (SHA-256 3bf0fc662f56…)
- Eurostat: Eurostat dataset nama_10r_3gdp: GDP, million euros (NUTS 3), read 23 October 2026 · saved copy (SHA-256 096e15e5fdb3…)
- Eurostat: Eurostat dataset nama_10r_3empers: Employment, thousand people (NUTS 3), read 23 October 2026 · saved copy (SHA-256 664e4e3a6dc0…)
- Eurostat: Eurostat dataset nama_10r_3empers: Employment (thousand persons) by NUTS 3 region and industry, read 23 October 2026 · saved copy (SHA-256 222a97c302d3…)
- Eurostat: Eurostat dataset nama_10r_3gva: Gross value added at basic prices by NUTS 3 region and industry, read 23 October 2026 · saved copy (SHA-256 c656e8563bdf…)
- Instituto Nacional de Estadística (INE): Atlas de Distribución de Renta de los Hogares (ADRH) 2024: indicadores de renta media y mediana por provincias e islas, 2015-2024 (table 53689), read 23 October 2026 · saved copy (SHA-256 883851a1be5e…)
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