Lanzarote leads per capita income in the Canary Islands with €30,371, but suffers from housing and worker shortages

Lanzarote tops the ranking for per capita income in the province of Las Palmas with €30,371 annually, 110% above the Canary Islands average. However, the island faces serious difficulties in finding workers and a housing crisis that hampers growth.

The report 'The Economy of the Province of Las Palmas in Graphs 2025', presented this Monday in Las Palmas de Gran Canaria, positions Lanzarote as the island with the highest per capita income in the province, at €30,371 per inhabitant per year. This figure represents 110% above the Canary Islands average, well above the other eastern islands.

Record employment and minimum unemployment

The island has 77,000 employed and records the lowest unemployment rate in the entire province. Economist José Miguel González, who participated in the study, highlights that "no one can overlook the record figures in tourism." Lanzarote and Fuerteventura have been two of the islands with the greatest tourist momentum in the archipelago.

However, the same report reveals a paradox: "we are facing difficulties in finding professional profiles that can join companies and a transversal problem affecting the entire economy, such as access to housing," explains González. "On one hand, there is a lack of workers, and on the other, many people who want to come to work have difficulties in settling down."

Tourism, a driving force with geopolitical uncertainty

José Valle, president of the Chamber of Commerce of Lanzarote and La Graciosa, values the macroeconomic data but warns: "Geopolitical instability and international conflicts, especially those affecting fuel prices, could lead to a slowdown in tourism because costs will increase." Nevertheless, he remains confident in the ability of the business fabric to face turbulence.

"Canary Islands have managed, especially after the pandemic, to strengthen their main industry, which is tourism, and I believe we are prepared to face possible crises," Valle adds in statements made during the report's presentation.

Diversification and digitalisation as keys to the future

Manuel Afonso, territorial director of CaixaBank in the Canary Islands, the entity that commissioned the study, emphasizes that "the economy of the province of Las Palmas and of the Canary Islands in general is evolving reasonably well." Despite the uncertainty, "investments are not slowing down and tourism continues to grow." Afonso also highlights the opportunity to "diversify the economy through digitalisation and the digital talent that exists in the Canary Islands."

The report confirms that Lanzarote, along with Fuerteventura, remains the island that distributes its gross domestic product most generously among its population. However, the cumulative effect of growth is becoming less intense, according to experts, due to bottlenecks in housing and human capital.

For the reader in Lanzarote, the news has a direct impact: economic prosperity coexists with the daily difficulty of finding housing or qualified personnel. The study recommends active housing and training policies to avoid stalling development. The next report is expected in 2027, with the hope that microeconomic indicators will improve at the same pace as the macro ones.