One-Stop-Shop for Blue Economy activities
The Canary Islands, situated in the Atlantic Ocean, are famous worldwide as a powerful destination for holidays. Their particular geographic location is to thank for their gorgeous weather all year long. However, their geolocation is also involved in how much the Canary Islands have to offer when it comes to helping science and economic activities related to the ocean.
The Blue Economy is a promising field that’s gaining traction year after year and the Canary Islands want to play a leading role in that growth.
They’re surely in an advantageous position partly because the region already offers tremendous expertise and experience on the field. This is a tremendous opportunity for local and international investors to hop on.
Nowadays the Blue Economy represents 7% of direct activity in the Canary Islands. This equals to a 7.4% of the local GDP and 45,000 related workers.
Many activities contribute to the boom of the Blue Economy in the Canary Islands.
The ocean is a very viable economic route for archipelagos that know how to profit from it. In the case of the Canary Islands, the main activities are logistics and maritime transport, with the Canaries becoming a relevant international transit hub.
The Spanish islands also focus on naval and oil-rig repair. If that wasn´t enough, the ramifications of the sector make it all the way to cold storage and provisioning, also activities the Canary Islands are profiting from.
The Spanish archipelago provides the knowledge and expertise on ocean related businesses, but the benefits of investing and collaborating with the Canary Islands don´t stop there. The southernmost region in Europe boasts incredible financial incentives, like the lowest corporate tax in the EU (4%) and one of the lowest turnover of staff rates in the European continent. Besides, their connectivity, both in transportation and in telematics is excellent.
If you have clients working on or interested in the Blue Economy, a wise thing to do would be to have a deep look at what the Canary Islands have to offer in this regard and advise your clients with solid data.
Their natural conditions and scientific expertise make the region an irresistible destination for all businesses and activities directly or indirectly related to the ocean.