The Canary Islands government and the Tenerife Cabildo have signed an agreement to invest €860,000, of which each institution will finance half of the amount to promote tourism on the island of Tenerife.

The two parties have signed another agreement in which the regional government is committed to provide €200,000 over the next three years to assume the cost of the space rented out in the tourist fairs “World Travel Market” in London and the “ITB” in Berlin.

The president of the Tenerife Cabildo, Ricardo Melchior, said during the signing that the two agreements are very positive for the island and will help the industry achieve good results in 2012.

Mr. Melchior stressed that the positive numbers in tourism in 2011 are not due to external variables, but due to the “effort” of the government and employers in the sector.

The Deputy Minister of Tourism of the Canary Islands, Ricardo Fernandez de la Puente, has announced that in the near future is expected to sign an agreement with the rest of island councils to promote tourism, in an operation for which the Canary Islands government has allocated €1.8 million this year.

The €860,000 to be invested by the Council and the Government will go to funding events and activities taking place in Tenerife that promote the tourism image of the island and promotional activities with tour operators, travel agencies and the media.