The financial entity aims to reinforce its support for key sectors such as agriculture, tourism, and SMEs on the less populated islands. The sessions featured the participation of BBVA's territorial director in the Canary Islands, Quim Soler, and served to present the bank's perspective on the current economic environment, investment prospects, and available financial solutions.
These meetings are part of BBVA's commitment to the economic development of the Canary Islands and its proximity to the archipelago's productive sector. In the first quarter of the year, over 1,700 new Canary Islands companies have joined the entity, which has provided €578 million in new financing to Canary Islands companies and SMEs, a 9.5% increase compared to the previous year.
During the gatherings, the financial and geopolitical situation, economic forecasts for 2026, and investment opportunities in a context of technological transformation and sustainability were analyzed. Territorial Director Quim Soler highlighted the fundamental role of businesses on these islands and BBVA's commitment to supporting them with its global capabilities.
According to BBVA Research forecasts, the Canary Islands' GDP is projected to grow by 2.5% in 2026, supported by the recovery of household purchasing power, dynamic consumption, and investment. An accumulated creation of 35,000 jobs is anticipated between 2025 and 2027.
Tourism, a key driver of the Canary Islands' economy, shows signs of stabilization, with a 9.3% increase in foreign card spending last year, encouraging a focus on increasing per-traveler spending and de-seasonality.
Artificial Intelligence was another central topic, emphasizing its capacity to improve efficiency and productivity. Quim Soler stressed the need for practical AI integration, focusing on talent and business process improvement.
BBVA highlighted its offerings for SMEs and self-employed individuals, including financing, digitalization, and growth solutions tailored to territories like La Gomera, La Palma, and El Hierro.
Support for the primary sector and agriculture was addressed with particular emphasis, underscoring the importance of a sustainable ecosystem with water security, energy guarantees, and efficient resource use. Financial solutions and digital tools for the agricultural sector were reviewed.
“"The Canary Islands have unique characteristics that demand close and tailored solutions. Our goal is to combine financial strength, technology, sustainability, and expert support to help local businesses grow from their territory with a long-term vision."
