The Canary Islands' Ministry of Tourism and Employment has launched its seventh sponsorship initiative, allocating €6.5 million from its own funds to support events that promise a higher advertising return. This funding is part of a broader strategy to enhance the visibility of the Canary Islands as a tourist destination.
Since the inception of this sponsorship programme in 2021, the Ministry has supported 1,049 events with a total of €58.8 million, complemented by over €300 million from private entities and €33 million from public administrations.
Increased return on investment requirements
For this year’s initiative, the Ministry will allocate €6 million for events organised by private entities and €500,000 for those led by public organisations. A notable change this year is a 25% increase in the minimum return on investment (ROI) percentages required. The ROI measures the advertising value generated by the event in relation to the sponsorship received, taking into account brand exposure across various channels.
The new ROI requirements are as follows: for sponsorships up to €50,000, a minimum return of 125% is required; for amounts between €50,001 and €60,000, 150%; between €60,001 and €75,000, 175%; and for sponsorships from €75,001 to €100,000, 200%.
Application process and event criteria
Additionally, the Ministry has introduced a guide for calculating ROI, which includes a standardised methodology with criteria, formulas, and documentation requirements to ensure consistency in the reports submitted by applicants.
“Our sponsorship strategy allows us to associate the Canary Islands with a diverse agenda of events that enhances the external projection of the islands, generates activity in the archipelago, and broadens the quality offerings for residents,” stated Jéssica de León, the Minister of Tourism and Employment.
Events must take place in the Canary Islands between 2 January and 30 December 2027 and can be cultural, sporting, business, scientific, academic, gastronomic, or primarily tourist-oriented. Applications must be submitted electronically through the Tourism of the Canary Islands bidding portal, with deadlines varying based on the event date.
Past sponsorship success
Since the sponsorships began in 2021, a total of 2,004 applications have been submitted, with 1,049 events receiving funding (980 from private entities and 69 from public ones). This collaboration between public and private sectors has benefitted over 600 entities and facilitated events valued at a total of €333 million.
Cultural events have received the largest share of funding, with over €38.8 million allocated to 597 cultural activities. Sports events have also received significant support, with more than €14.4 million directed towards 316 sporting activities.
According to a survey conducted by the Canary Islands Statistics Institute (ISTAC) in the second quarter of this year, nearly three in five Canary Islands residents (59%) believe that tourism contributes to an increase in cultural events, a two-percentage-point rise compared to 2024.
