As Fuerteventura continues to attract investors, the local gastronomic sector seeks ways to enhance its economic resilience.
The Fuertegourmet Association recently met with Manuel Domínguez, the first vice president and Minister of Economy of the Canary Islands, to discuss strategies aimed at revitalizing Fuerteventura’s culinary industry. Led by its president, Gustavo Astrada Riera, the delegation presented various proposals intended to lower operational costs and bolster this vital sector, which is facing challenges due to Fuerteventura’s double insularity.
One of the primary concerns addressed was the competitive disadvantage experienced by the island. Unlike the capital and so-called “Green Islands,” Fuerteventura does not benefit from certain economic advantages. To combat this, Fuertegourmet recommended aligning fuel discounts with those available in the Green Islands. The association highlighted that Fuerteventura has been experiencing the highest fuel prices in the region, which significantly impacts logistics costs for local businesses.
In terms of taxation, the association proposed increasing the exemption threshold for small enterprises from €50,000 to €85,000. They also requested a reduction in the general Canarian Goods and Services Tax (IGIC) rate from 7% to 3% for restaurants and suggested applying a zero rate to essential products within food services. Additionally, Fuertegourmet is advocating for raising the Deduction for Investment in the Canary Islands (DIC) from 70% to 80%, aiming to facilitate the modernization of local establishments and equipment.
The meeting also focused on workforce-related issues, particularly the persistent housing challenges that hinder recruitment in the hospitality sector. Fuertegourmet suggested introducing tax incentives for employers who provide accommodations for their employees, thereby easing the hiring process.
The association expressed concern over food prices, stating that existing subsidies have not resulted in reduced costs for restaurants. In response, Domínguez committed to considering their proposals regarding restaurant equality with other businesses and unlocking economic revitalization aid.
While expressing caution about expanding the tax exemption threshold, he noted that such changes require approval from the Spanish government and are subject to budgetary constraints.
Fuertegourmet serves as a vital link in the gastronomic and agri-food sectors of Fuerteventura, and its proactive engagement with government officials aims to fortify the local economy amid ongoing challenges.
Image credit: www.diariodefuerteventura.com
Source: www.diariodefuerteventura.com.
Curated by Fuerteventura Times Real Estate Desk.
