Economy
Tenerife is the economic capital of the Canary Islands. Even though Tenerife's economy is highly specialized in the service sector, which makes 78% of its total production capacity, the importance of the rest of the economic sectors is key to its production development. In this sense, the primary sector, which only represents 1.98% of the total product, groups activities that are important to the sustainable development of the island's economy. The energy sector which contributes 2.85% has a primary role in the development of renewable energy sources. The industrial sector which shares in 5.80% is a growing activity in the island, vis-a-vis the new possibilities created by technological advances. Finally, the construction sector with 11.29% of the total production has a strategic priority, because it is a sector with relative stability which permits multiple possibilities of development and employment opportunities.
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Famous quotes containing the word economy:
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)