Construction and services remain the key drivers behind Alicante’s company formation. The province ended the year with 791 new registrations, pushing the cumulative total to 60,791. While both industry and agriculture faced declines, the momentum came from the growth of construction and services, particularly along coastal areas where tourism and housing activity concentrate, helping sustain the overall upward trend.
The Valencian Institute of Statistics (IVF) released the quarterly figures for companies registered with Social Security in late 2023. The data show a 1.3% year-over-year increase. Tourism’s strong performance last year is linked to 687 additional companies in the services sector, bringing the total to 46,051. Construction also performed well, despite a slowdown in housing sales in the second half of the year, with 190 more firms, reaching 6,966 in total.
In contrast, the agricultural sector faced losses, with 89 fewer companies and a total of 1,883. Underlying the decline are poor harvests in many crops caused by high temperatures and persistent drought. The sector, affected by lower consumption in an inflationary environment, saw a reduction to 5,891 companies, a decrease of 47 from the previous period.
Regionally, coastal zones added the most companies, led by a surge of 777. In l’Alacantí the tally rose to 15,547 with an increase of 282; Vega Baja grew by 241 to reach 11,130. Marina Alta rose by 153 to 6,950, and Marina Baixa increased by 101 to 7,423.
The other side of the picture shows hinterland districts where industry remains more prevalent and new firm formation varied. Medio Vinalopó saw a drop of 26 firms, dipping to 4,788. Baix Vinalopó added 21 to reach 9,282; El Comtat added 13 to reach 919; Alto Vinalopó increased by 7 to 1,577; and l’Alcoià registered 4 new firms, bringing the total to 3,350.
Tourism is shaping a record outlook in Alicante, with business volume projected to surpass 10,000 million
The overall number of companies in the province supports a sizable labor force, employing 532,750 people. This marks an increase of 18,597 workers compared with 2022. Experts note that coastally tied economic activity, especially tourism and population growth, continues to attract new ventures. Remote work has drawn residents seeking a lower cost of living and favorable climate, contributing to demand for services and spurring company creation. The regional dynamics are also influenced by broader geopolitical conditions that affect migration and investment patterns. Local authorities and economic analysts anticipate ongoing expansion as service needs grow alongside population growth, with planned investments in infrastructure and business support programs expected to sustain momentum. [Source: IVF data and regional economic analyses]
Paloma Taltavull, a professor of Applied Economic Analysis at the University of Alicante, links coastal business growth to tourism and population dynamics. She notes that remote work attracts people to the coast because of affordability and climate compared with much of Europe. The influence of the conflict in Ukraine also factors into migration and business formation, as new residents create demand for services and enterprises respond with fresh companies. The overall pattern shows a coast-driven expansion in Alicante, alongside regional diversification that supports employment and economic resilience.