Bank deposit guarantees rise

Spain has increased its bank deposit guarantee from the previous 20,000 Euros to the new, higher level, of 100,000 Euros.  Bank deposits in Tenerife are protected by this system.

How is the recession affecting Tenerife?

As Spain’s unemployment figure are about to soar through the 3 million mark, many expats wonder how the recession is going to affect Tenerife.  Already the evidence is easy to see as shops and businesses have been closing all around the island. 

Mortgage Help for Borrowers in Spain

If you own a home in Tenerife and you are having problems repaying your mortgage, then you may qualify for a moratorium on half your mortgage payments under a Spain wide government scheme.  The measures, designed to help homeowners, allow for the deferment of mortgage payments, reducing their monthly costs by up to 500 Euros. 

Moving to Tenerife in a recession

Planning to move to Tenerife during the darkest recession the world has seen for many years is not a bad idea on the face of it.  “I’d prefer to be warm and broke in Tenerife than cold and broke in the UK,” said one recent arrival, which is a typical response amongst many. 

Property and jobs in Tenerife are some of the biggest concerns, as is the Tenerife economy.

You can make your move to Tenerife in a recession much easier, save an enormous amount of money and make your life in Tenerife as stress free as possible by having the right information at your fingertips.  You need understand the health system, education, social security, tax, driving… or it will affect your pocket. 

Putting Tenerife Recession into perspective

"If you can keep your head when all about you are losing theirs ... " - Rudyard Kipling

A voice of reason speaks out about recession in Tenerife

There are so many people who are now feeling so depressed about the global economic situation that not only have they become resigned to the fact that they are in deep trouble, they have also told everybody else that they are soon to be in deep trouble.

Tenerife's Economy: an expat perspective

The local economy has to be an important factor for anyone considering a move, or living in Tenerife.  Find out more about Tenerife's economy from the point of view of an expat.