There is an air of optimism around the island. Business owners and workers are walking with a new spring in their step and without exception, everyone I talk to seems to feel that the worst is over. In the past couple of years we have seen a lot of expats leaving the island, with the bad economy cited as the main reason. We are now seeing a rise in new arrivals aiming to make a new life in Tenerife, which is a sign that recovery is on the way.
An unusual economic indicator that backs this up is the number Tenerife Bars for Sale. This time last year, you could hardly give a bar away. The economy was deep in the doldrums and bars in Tenerife, just like most other businesses, were having a tough time. Buyers for bars were thin on the ground because there were few people making the move from the UK, Ireland and elsewhere in Europe.
The more buoyant the economy, the more confidence in the future that there is; the more people move over and buy Tenerife bars for sale. The rate of bar buying is therefore a pretty good indicator of the economy.
Official statistics will take a long time to reflect any changes of course, but there is more anecdotal evidence to support the beginnings of a recovery in Tenerife. More copies of Tenerife Lifeline are being sold online, which means more people are thinking seriously about moving to Tenerife. Removal companies are seeing the balance of people moving to Tenerife now exceed the number leaving. Times are definitely getting better.
So if you run a business in Tenerife, its time to look closely at your firm. You are probably proud that you have managed to survive the recession, and so you should be. In the process you will have cut costs as far as you can, and you’re now running a pretty tight ship.
But now, is the time to start looking to the future. That doesn’t mean hiring loads of staff or moving to a new, swanky premises. But it does mean starting to invest in your marketing again. The market is coming back and you need to make sure your business wins its share. Do nothing and you can be sure that all these new entrepreneurs coming over will take it from under your eyes.
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I blog about new marketing techniques and how to apply them to the multinational environment of a bustling tourist resort, as well as different ways to use some of the more traditional marketing tools. 
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