Business, negocios, Geschäft and bedrijf in Tenerife!

The most recent statistics about where Tenerife’s tourists come from make interesting reading for business owners in Tenerife. Behind the headline totals lurk figures that should be a strategy defining guide to the more astute business owners in Tenerife.
 

Source: Instituto Canario de Estadística (ISTAC) e Instituto de Estudios Turísticos (IET

 
Many foreign business owners tend to focus on tourists of their own nationality. There are British and German bars, for example, that people from other countries would feel uncomfortable to set foot inside. But these businesses are missing out on the huge majority of their potential market because any one nationality makes up only a proportion of Tenerife’s total tourism business.

The graph above shows the major country groups that make up the tourist market in Tenerife. Within each of them, there are seasonal variations when a business specialising in any one nationality will be a victim of the ebb and flow of demand.

If Scandinavians are your market, then you may as well go on holiday yourself between March and November. If your target market is only German, then the summer months will be very quiet. These statistics give a good overall guide to the spread of different national markets throughout the year.

But in fact the reality can be even more subtle that the statistics suggest. For example, tourists from the UK and Ireland peak in the summer and fewer visit in the winter. The cost of flights from the UK at that time tends to prohibit all but the four and five star guests. The graph may suggest it’s a bad time for a business focused on the English speaking market, but in fact these visitors spend much more per head than their summer counterparts. They also have different purchase patterns, so they would be less likely to buy and English breakfast for three Euros.

If you are buying a business in Tenerife and you would like a real insight into the island’s commerce, with up to date market knowledge and sound advice, then please do contact us.