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:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)