Leading tour operators in the southern Gran Canaria market have warned that in winter 2024 they will not tolerate price increases such as those that bankrupted Thomas Cook in 2019. In 2023, hotel and apartment prices soared by 10%. The average daily price per room in the Canary Islands stood at 138 euros in December, 9,6% more in one year, while the average price of apartments stood at 86 euros, 11,6% more.
Tour operators with the largest business shares in the south of Gran Canaria underline the persistent challenges posed by inflation and the economic crisis in key markets such as the United Kingdom, Germany and Scandinavian countries. Industry experts expressed uncertainty about a possible recession, echoing the economic stagnation in the main markets. Addressing hoteliers, operators stressed the need to reconsider pricing strategies given the prevailing economic situation.
The Canary Islands broke all previous records for international tourist arrivals in 2023. British tourists accounted for 5,7 million arrivals, more than a third of the 14,1 million foreign passengers who arrived in Spain's Atlantic enclave last year, according to Aena. The overall figures represent a 6,9% increase on pre-pandemic figures, almost a million more than before. While more tourists are flocking to the island, the average number of stays has not reached pre-pandemic levels, according to the expert. The trend raises concerns that it could affect Gran Canaria's economy, which is highly dependent on tourism.
