This February, BBVA's private banking business unit in Maspalomas has developed an outreach campaign to the owners of the largest assets in the south of the island in order to offer financial solutions to avoid cash tensions in their companies. It was a simple event where those who have the most money in Maspalomas but who almost never appear in the media could be seen entering and leaving the meeting venue. Thus, in addition to business owners linked to tourism, there was the presence of representatives of families with diversified interests in Maspalomas.
The Canary Islands economy will grow 2,8% this year, double the national average and will rebound to 3,3% of the Gross Domestic Product (GDP) in 2024, which will allow the creation of some 69.000 jobs in two years, according to includes the annual economic outlook report prepared by BBVA Research. For the study service of the financial entity, the Canary Islands will close 2022 with a deficit of 0,5% of GDP and this year it has designed expansive budgets from a fiscal point of view and with a strong increase in public spending, so it believes that in 2024 , when fiscal rules are recovered, some type of adjustment will have to be made.
From Las Palmas, the provincial director, Rosario Olaegui Gómez, came to the south of the island, who was accompanied by the director of BBVA in Mercurio-Playa del Inglés, Pedro Marrero, and the managers of Private Banking Marta Clemente Alonso, Yanira Mendoza Marrero and Norberto Marrero . The meeting was supported by Guadalupe Hernández, Territorial Director of BBVA Canarias
The owners of money, who do not talk much, asked some brief questions about the markets. BBVA technicians explained the current market situation, perspectives, and what type of opportunities we can take advantage of. In addition to the high net worth unit, representatives of BBVA companies and individuals were present. Olaegui Gómez said at the end of the meeting with his clients that "clients greatly value that we are at their side, putting in their hands all the information they need to make the best decisions."
