About internationalization

Over the course of the last few decades, the development of the Canary Islands economy has shown certain vitality and the growth of its domestic product proves this. Despite this, there have been structural problems that limit the expansion and adequate distribution of the effects of this development.

The lack of own resources and the evolution of the world economy have led to specialization in services and, in particular, in tourism. The movement of economic activity towards a sector of this nature and the high concentration of exported agricultural products mark the strong dependence on the cyclic fluctuations of the international economy; and make evident the islands? scarce capacity to act on the evolution of their main sources of resources.

Up to now, the foreign trade activities of Canary Islands businesses have been characterized by their high level of concentration both from a sector point of view, in fruit and vegetable productions, plants, flowers and fishing as well as the markets associated with these productions ? the European Union and Japan.

Thus, in recent decades the evolution of the Canary Islands economy has been characterized by its high degree of internationalization. However, this internationalization has been more connected to foreign investment in the abovementioned tourism and construction activities on the Islands than to taking Canary Islands capital abroad.

Therefore, the internationalization of Canary Islands businesses constitutes a priority line of action in order to achieve the diversification objectives sought.