#PriceTrendAnalysis hùvhjAround 2.24 million people live in the Canary Islands and the gross domestic product (GDP) per capita in 2021 was around 18,990 euros, with around 40% of GDP dependent on tourism.

The informal economy in the Canary Islands, which includes undeclared and illegal economic activities, accounts for around 17.9% of GDP and amounts to over 8 billion euros per year.

The informal economy means that business is conducted without paying taxes through loopholes and criminals also launder money.