An Economic Engine That Generates More Than 66,000 Jobs

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Sports in the Canary Islands: An Economic Engine that Generates More than 66,000 Jobs

The impact of sport on the Canary Islands economy exceeds 2.5 billion euros annually

Sport in the Canary Islands has evolved from being a mere recreational activity to becoming a economic giant that boosts the regional economy significantly. Sports entities, including UD Las Palmas and CD Tenerife, are protagonists in this process, generating close to 12% of hotel reservations in the region, which reflects the close relationship between sport and tourism.

A recent study carried out by KPMGin collaboration with the Sports Industry Cluster, has shed light on the magnitude of this transformation, revealing that the sports sector contributes 2,586 million euros annually to the Canarian economy, which is equivalent to 4.45% of the Gross Domestic Product (GDP) of the islands. “This data not only quantifies its weight, but also places it as a strategic driver of island prosperity,” highlighted José Hernández, president of the Cluster, during the presentation of the report.

The Labor Impact: More than 66,000 Jobs Generated

The economic impact of sport in the Canary Islands is not limited to figures. Sports activity directly generates 28,667 jobswhile the multiplier effect, which considers both indirect and induced effects, increases the total number of jobs created by 66,421. This means that for every million euros that this industry adds to the GDP, approximately ten direct jobs are created.

“These rigorous data will guide political decision-making and strengthen support for the sector,” commented Poli Suárez, advisor to the Canary Islands government.

Connection between Sports and Tourism

The analysis of the report shows that sport is closely linked to tourism in the Canary Islands. The importance of the accommodation is such that it attracts 28.2% of investment, followed by elite clubs, federated sports and sports corporations, which contribute a 12% and trade with a 10.9%.

28.2% – Tourist accommodation
12% – Elite clubs and federated sports
10.9% – Trade

It is evident that attracting visitors through major sporting events and the operation of entities such as UD Las Palmas either CD Tenerife They are key to generating wealth. Furthermore, it is interesting to highlight that the private sector is the true driving force of this activity, providing the 76% of the direct impact of sport, while the public sector contributes with a 8.5%.

Business Growth and Consumer Habits

The sports industry in the Canary Islands presents a dynamic business fabric, with more than 2,600 companies active in this sector, positioning the region as the fifth autonomous community with the greatest sports business presence. In 2024, these companies showed impressive growth in 7.2%the second largest in Spain, which reflects the expansion and potential of the sector.

The study also revealed that the 52% of the Canarian population practices sports weekly, aligning with the national average. This data ensures robust internal demand, vital for the continued growth of the industry, which is booming.

The Future of Sports in the Canary Islands

The figures presented in this study underline the capacity of the sports sector to contribute to the regional economy and its potential as a strategic pillar for the socioeconomic development of the islands. Sports entities, beyond their competitive role, are essential for attracting tourism and generating employment, which highlights their importance in the economic structure of the Canary Islands.

With an ever-growing environment, it is crucial that both the private and public sectors collaborate to maximize this potential. The data presented by KPMG offers a powerful tool for the formulation of policies that seek to further enhance the development of sport and the related economy in the region.

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Frequently Asked Questions (FAQ)

1. What is the economic impact of sport in the Canary Islands?
Sport contributes 2,586 million euros annually, representing 4.45% of the regional GDP.
2. How many jobs does sport generate in the Canary Islands?
The sports sector generates 28,667 direct jobs and up to 66,421 if indirect jobs are considered.
3. How is sport related to tourism in the Canary Islands?
Sport ensures an increase in hotel reservations and attracts visitors, being a great driver of tourism on the islands.
4. What percentage of the economic impact of sport comes from the private sector?
The private sector contributes 76% of the direct impact of sport in the Canary Islands.
5. How many sports companies are there in the Canary Islands?
There are more than 2,600 active companies linked to the sports sector on the islands.
6. What was the growth of the sports sector in 2024?
The sports industry in the Canary Islands grew by 7.2%, the second highest growth in Spain.
7. How many Canarians practice sports regularly?
52% of the Canarian population practices sports weekly.
8. What role do sports entities play in the Canary Islands economy?
Sports entities are essential to attract tourism and generate employment in the region.
9. What are the most important elite clubs in the Canary Islands?
UD Las Palmas and CD Tenerife are the leaders in Canarian sports.
10. What actions can be taken to enhance the sports sector?
Effective collaboration between the private and public sectors is essential to maximize the economic potential of sport.