The Canary Islands has transformed into a hub for remote workers, digital nomads, and tourists within the past five years.
The Spanish archipelago set ambitious goals in 2020 to attract 30,000 remote professionals within a decade. Now, the streamlined visa processes, reliable internet, and financial incentives laid out by the local government have all contributed to an influx of travelers — and locals protesting soaring housing costs.
The Canarian Weekly reports that around 8,000 remote workers from countries including Germany, France, the U.K., and the U.S. now call the Canary Islands their remote office — citing data from the Canary Association of Coworking Spaces, which revealed a growth rate of 10% per month in this demographic.
The dramatic increase in foreign investment has left locals to pay the price.
Reuters reports that last month thousands of people in Tenerife protested, calling for the island to temporarily limit tourist arrivals to decrease the surge in short-term holiday rentals and hotel construction.
Protestors cite “excessive tourism,” as the cause of a housing crisis in the archipelago.
Prior to the April protests, Spain announced its decision to terminate its golden visa program — which granted residency to non-EU investors purchasing property over €500,000 ($541,250).
For the locals, it only alleviates some of the challenges. A report published by Skift cites data from Spain’s National Statistics Institute showing 33.8% of people in the Canary Islands are at risk of poverty.
Local Canary government has taken action in response. Tenerife recently announced a tourist tax that will go into effect on January 1, 2025, according to Skift. Officials are also in the process of drafting a law to impose stricter regulations on short-term rentals, with expectations for it to pass this year.
CNN Travel also reports tourist numbers have soared from 11.5 million per year to around 16 million per year within the last decade.
Along with the influx of remote workers, The Canarian Weekly reports many coworking spaces on the islands have sprouted up.
