The future is shaped by the resilience of Maspalomas' tourism. At a meeting held in Las Palmas, experts from BBVA Private Banking analyzed the economic outlook for 2026, anticipating a drastic shift in the economic cycle for the archipelago. According to BBVA Research projections, the Canary Islands will go from leading national economic growth to lagging behind the rest of the country between 2025 and 2027. The financial institution forecasts a gradual slowdown, estimating growth of 2,3% for 2026, a figure that will fall to 1,6% in 2027, far from the 3,5% recorded at the end of the current year.
This slowdown is a direct result of the cooling of spending by non-resident tourists, the main driver of the islands' economy. Although the Minister of Industry and Tourism, Jordi Hereu, recently celebrated the sector's "calm" growth, with figures pointing to over 18 million visitors by the end of 2025, the bank's report warns of the limitations of this model. BBVA Research's forecast places the Canary Islands, along with the Balearic Islands, in the group with the lowest national economic growth for the next two years, reflecting a loss of dynamism in tourism that will directly impact the regional GDP.
Given this outlook of slower growth and greater financial volatility, BBVA Private Banking seeks to protect its clients' wealth. During the meeting, Rafael Alférez Burillo outlined the market outlook and the most attractive investment opportunities for 2026, emphasizing the need for diversification in a challenging environment. The strategic vision presented underscores the importance of adapting investment portfolios to a weakening island macroeconomic context.
Beyond the macroeconomic situation, efficient wealth management hinges on a correct interpretation of the legal framework. Marina González Moreno and Jesús Muñoz García shared the main legal and tax developments, both nationally and specifically in the Canary Islands. These changes are crucial for optimizing investment returns and protecting family wealth against economic fluctuations anticipated by the firm's research department.
