Tenerife, the largest of Spain’s Canary Islands, offers a unique blend of sun, sea, and business opportunities. As of 2024, this vibrant island is becoming an increasingly attractive destination for entrepreneurs and investors. From its favourable tax incentives to its strategic location, Tenerife is well-positioned for business success. Let’s dive into what makes doing business in Tenerife a smart move in 2024.

Strategic Location and Connectivity

Located off the northwest coast of Africa, Tenerife enjoys excellent connectivity with Europe, Africa, and the Americas. The island boasts two international airports—Tenerife North and Tenerife South—which facilitate easy access to major global markets. According to business expert Javier Ruiz, “Tenerife’s location makes it an ideal hub for international trade and logistics, providing businesses with a competitive edge.”

Favourable Tax Regime

One of Tenerife’s biggest draws is its attractive tax regime. The Canary Islands Special Zone (ZEC) offers a reduced corporate tax rate of 4%, significantly lower than the standard rates in mainland Spain and much of Europe. Additionally, the island benefits from various incentives for innovation and research, making it a hotbed for tech start-ups and research-oriented businesses. “The tax advantages in Tenerife are unparalleled, making it a highly cost-effective location for businesses,” says Maria Gomez, a local tax consultant.

Thriving Tourism Industry

Tourism remains a cornerstone of Tenerife’s economy, with millions of visitors flocking to the island each year. This robust tourism sector presents numerous opportunities for businesses in hospitality, entertainment, and retail. Data from the Tenerife Tourism Board indicates a steady annual growth in tourist numbers, with a significant increase in eco-tourism and adventure travel. “Tenerife’s tourism industry is evolving, offering new niches for innovative business ideas,” notes Carlos Fernandez, a tourism industry analyst.

Diverse Business Environment

Tenerife’s business landscape is diverse and dynamic. From agriculture to technology, various sectors are thriving on the island. The local government actively supports entrepreneurship through grants, training programs, and business incubators. The island’s growing expatriate community also contributes to a multicultural business environment, fostering international collaboration and networking opportunities. “The supportive ecosystem and diverse business community make Tenerife an exciting place to start and grow a business,” remarks Ana Martin, a local entrepreneur.

Modern Infrastructure and Quality of Life

Tenerife offers modern infrastructure, including state-of-the-art telecommunications and reliable utilities. Coupled with its stunning natural beauty, pleasant climate, and high quality of life, the island is an attractive place for business owners and employees alike. A recent survey by the Canary Islands Business Association found that 85% of expatriates and local entrepreneurs are satisfied with their work-life balance in Tenerife. “The combination of professional opportunities and lifestyle benefits is unbeatable,” says David Lopez, a business relocation specialist.

Conclusion

In 2024, Tenerife stands out as a prime location for business ventures. Its strategic location, favourable tax conditions, thriving tourism sector, diverse economy, and high quality of life make it a compelling choice for entrepreneurs and investors. Whether you’re looking to start a new business or expand an existing one, Tenerife offers a unique blend of opportunities and advantages that are hard to find elsewhere. So, pack your sunscreen and business plan—Tenerife awaits!

Final Thoughts

As you consider Tenerife for your business endeavours, remember to stay updated on local regulations and market trends. Engaging with local experts and joining business networks can provide invaluable insights and support. With the right strategy and mindset, doing business in Tenerife can be both profitable and enjoyable. Welcome to the island where business meets paradise!

Continued in 2025

The Death of Jay Slater and Subsequent Public Response

This report examines the circumstances surrounding the death of Mr Jay Slater, a 19-year-old British national who died in Tenerife in June 2024. It draws upon the established timeline of events, the findings of the formal inquest concluded in July 2025, and the wider societal implications, particularly relating to online misinformation. The intention is to provide a clear, factual, and measured account of a case that attracted significant public attention and, regrettably, considerable unfounded speculation.

Background and Timeline of Events

Mr Slater travelled to Tenerife with friends for a holiday in June 2024. On the evening of 17 June 2024, he attended a nightclub where he became acquainted with two men. In the early hours, he accompanied them to an Airbnb property situated in the mountainous Masca region of the island.

On the morning of 18 June, Mr Slater departed the property on foot. He contacted friends to say that he was without water, his mobile telephone battery was nearly depleted, and he was attempting to make his way back. After this communication, he ceased to be contactable.

A large-scale search effort ensued, lasting several weeks and involving local authorities, volunteers, and search specialists. On late July 2024, his body was discovered in the remote Juan Lopez ravine, a steep and rugged area several kilometres from where he was last seen. The condition of the terrain, combined with a lack of clear direction during his departure from the Airbnb, contributed significantly to the difficulty of locating him.

Inquest Findings (July 2025)

The inquest, held in the United Kingdom in July 2025, concluded that Mr Slater’s death was the result of a tragic accident.

Cause of Death

The coroner determined that Mr Slater suffered:

• Fatal head injuries,

• Multiple skull fractures, and

• Traumatic brain injury,

all consistent with a fall from a considerable height within the ravine. Evidence indicated that death would have occurred instantaneously.

Toxicology Results

Toxicological analysis identified the presence of:

• Alcohol,

• Cocaine,

• Ecstasy (MDMA/MDA), and

• Ketamine.

The coroner indicated that ketamine may have been taken over an extended period, and that the combined effects of intoxication, fatigue, lack of appropriate clothing, and the challenging mountain environment would have materially impaired his judgement and physical resilience.

Determination of Events

There was no evidence of third-party involvement, and no indication that any individual had caused or contributed to his death. The coroner further dismissed speculation about alleged theft or disputes, noting that references made by Mr Slater to selling a Rolex watch were considered mere boasting rather than evidence of criminal activity.

His companions expressed concern for his wellbeing and attempted to locate him; however, as an adult, he made independent decisions that ultimately placed him at risk.

Social Media Impact and Misinformation

The disappearance and subsequent investigation attracted extraordinary online attention. Unfortunately, this was accompanied by a significant volume of malicious speculation, including unfounded allegations directed at Mr Slater’s mother, Ms Debbie Duncan, and various conspiracy theories that hindered practical search efforts and caused profound distress to the family.

The case became a notable example of how unregulated digital discourse can obstruct real-world emergency operations. In response to the ordeal, Ms Duncan publicly advocated for more robust regulatory measures to address harmful online misinformation and to protect families involved in traumatic incidents from harassment and defamation.

Broader Implications

This case highlights several important considerations:

• Safety Awareness: Travellers, particularly young adults, may underestimate the dangers posed by remote or mountainous regions, especially when fatigued, inadequately dressed, or under the influence of substances.

• Emergency Response Challenges: Difficult terrain, compounded by ambiguous last known locations, can severely delay rescue operations.

• Digital Responsibility: The proliferation of conspiracy theories and defamatory content during active search efforts underscores the urgent need for improved accountability and oversight across social media platforms.