The Government Council approved on Monday to submit the Canary Islands Social Economy Strategy, with 57 actions and a budget of €4.47 million for the period 2026-2029.
The regional executive has taken the first step towards the definitive approval of the roadmap that will organise support for cooperatives, labour societies, and other social economy entities in the islands. The Minister of Tourism and Employment, Jéssica de León, highlighted that the strategy aims to "strengthen the competitiveness of entities, promote entrepreneurship, and favour territorial cohesion".
The Canary Islands Social Economy Strategy (ESCAES) 2026-2029 includes 57 actions grouped into six areas: support for entities, promotion of entrepreneurship, improvement of competitiveness, promotion of equal opportunities, territorial sustainability, and training. The planned budget amounts to €4,475,832.06 for the four years of validity.
"The social economy not only creates businesses, it also creates opportunities, cohesion, and development for our municipalities," De León stated during the presentation of the document. The minister emphasised that this business model is key to "address challenges such as generational change, equal opportunities, population retention in the territory, or the creation of new job opportunities".
In the Canary Islands, the social economy comprises 3,516 entities — including cooperatives, labour societies, insertion companies, special employment centres, mutual societies, fishermen's guilds, and third sector entities — which generate around 17,000 jobs. The strategy aims to strengthen this fabric and encourage the creation of new initiatives.
The drafting process has involved the participation of universities, councils, municipalities, business and union organisations, as well as the social economy entities themselves and various ministries of the regional government. "The participation of all involved agents allows us to have a useful, consensual strategy adapted to the reality of the entities," De León added.
The parliamentary procedure, provided for in the Canary Islands Social Economy Law, is the prior step to the definitive approval by the Government Council. Once passed, the strategy will become the reference framework for regional policies in this area for the coming years.
Meanwhile, Las Palmas de Gran Canaria and Santa Cruz de Tenerife will jointly share the Spanish Capital of Social Economy in 2027, a recognition from the Ministry of Labour and Social Economy that for the first time falls on two cities together. This title will serve as a showcase for Canary initiatives in this sector.
The minister recalled that the social economy "is a key tool to face challenges such as generational change, equal opportunities, population retention in the territory, or the creation of new job opportunities, especially in emerging sectors." The strategy includes specific measures for training and innovation, aimed at improving the competitiveness of the entities.
The Canary government expects that the ESCAES will contribute to a more sustainable and balanced development across all the islands, promoting the creation of quality jobs and supporting new business projects. The roadmap also aims to facilitate access to financing and improve the visibility of social economy entities.
With this plan, the Canary Islands positions itself as a pioneering community in promoting the social economy, a model that combines economic activity with social impact and is gaining more weight in the European context. The strategy will be in effect until 2029, with periodic reviews to adapt to the changing needs of the sector.
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