Economy of Lanzarote

Economical History
In the centuries following the Spanish conquest, the mainstays of the Canary Islands’ economy were various types of monocultures, such as...
Today, Lanzarote’s economy is mainly dominated by the tourism industry, which has experienced an amazing growth in recent years. About 2 1/2 million tourists visit Lanzarote annually, and tourism provides most of the jobs, especially in the construction industry, which has been thriving over the last decade. There is an estimation of about 90 per cent of the working population being involved with tourism in some way.

In Spite of in the past Lanzarote’s Agriculture was the main industry, today, the it is very poor and it is subject to the shortage of rain (144 mm,yearly), and the irregular distribution of rain throughout the year. Also it is conditioned by the wind, and the shortage of developed land. At presents, onions and vines are mainly grown. Onion growing takes place in natural and artificial sand-banks.

Strangely enough, wines as well as cochineal continued to be produced on Lanzarote more than on any other island of the archipelago. Today, Lanzarote’s wines, made of the Malvasia grape, are even considered the best of all the wines produced in the Canaries and are also mainly exported to the other islands of the archipelago.

With abundant fishing grounds between the east of the island and the African coast, fishing has always been a traditional mainstay of Lanzarote’s economy, making Arrecife the second largest fishing port in the Canary Islands, where large quantities of sardines, sea bass, parrotfish and cod are processed.

As Lanzarote has no meadows, you won’t find any cattle or sheep here, but, surprisingly, there are about 8,000 goats on the island, which were formerly farmed mainly for their milk, but nowadays this milk is largely used for cheese production.

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