The southern European islands claim to have the most profitable economic and tax regime in Europe. They are competitive on labour costs (manual workers take home an average of €3.75 an hour) and on property costs (central office rent costs an average of €240 per square metre a year).
Telecommunication costs are low, with the cheapest tariff €0.055 per minute to the US. There are 840 telephone lines per 1000 people and 78.2% of the population owns a mobile telephone. Internet access is also good.
Six international airports offer scheduled flights to 50 cities in Europe, Africa and beyond. There are also two local airports and numerous harbours for internal travel, as well as a good road network. The port in Las Palmas serves 30 shipping lines connecting to more than 380 ports around the world.
The quality of life in the Canary Islands is good. Apart from the Islands’ famously mild climate, the housing, hospitals, international schools and natural heritage were all judged to be better than rivals in the category.