Tourism is the main economic driver in Teguise, with the town attracting visitors for its historical charm, cultural festivals, and proximity to natural wonders. The local tourism industry is centered around eco-friendly and sustainable tourism, with many businesses focusing on promoting the island’s natural beauty and cultural heritage.
Apart from tourism, agriculture has historically been a significant part of Teguise’s economy. The fertile volcanic soil in Lanzarote is used for growing grapes, particularly for the production of Malvasia wine, which is renowned throughout the Canary Islands. Teguise is home to several small wineries that offer tastings and tours, showcasing the island’s wine-making traditions.
The town also has a growing artisan economy, with local craftspeople producing traditional Canarian goods, such as pottery, lace, and jewelry. The weekly market in Teguise is a prime spot for visitors to purchase these handmade products, directly supporting the town’s local businesses.