The September hardship isn't just measured in schools or fuel prices. In southern Gran Canaria, where tourism drives the economic pulse of thousands of families, household savings capacity has fallen again, placing the Canary Islands among the regions with the lowest financial cushion in the country. According to data from the Real Estate Credit Union (UCI), residents of the southern part of the island currently allocate barely 11% of their income to savings, compared to 18% last year. In practical terms, this translates to an average of 292 euros per month, fifty euros less than in 2024. But in the archipelago, and especially in areas such as Maspalomas, Mogán, and Playa del Inglés, this figure barely reaches 11% of disposable income, one of the lowest percentages in the country.
The paradox is repeated: eight out of ten Gran Canarians in the south of the island say they manage to save some money each month, but the actual amount is increasingly smaller. And in the tourist centers of southern Gran Canaria, where a large part of the population works in hospitality-related jobs, with high seasonality and tight wages, the room for maneuver is even narrower.
Families in the south point to the same factors as those in the rest of Spain: shopping and the electricity bill are the main concerns, far above the mortgage. Adding to the pressure of everyday life is a historic summer in terms of costs: vacations were 48% more expensive than in 2024, and for many households, the peak tourist season has been a double-edged sword: more jobs, yes, but also more spending on food and basic services.
In the Canary Islands, 74% of households say they save something each month, compared to regions such as Extremadura (92%) or Navarre (86%). The gap reveals an island reality marked by lower wages, a more expensive shopping basket, and a dependence on external services that drive up costs. "Financial education is key to better planning and achieving long-term stability," emphasizes Cátia Alves, Director of Sustainability at UCI, who points out that even with modest incomes, planning can make a difference.
In a region as dependent on tourism as southern Gran Canaria, where household finances largely depend on the high and low seasons, the decline in savings not only reflects the pressures of everyday life, but also the fragility of an economic model that leaves many households with no room to cope with any unforeseen event.
