Historically, Alcoy was an important center for Spain’s textile industry, and while the city has diversified over the years, it still maintains a strong manufacturing sector. Textiles, paper, and leather goods are some of the key products still produced in the city. This industrial base has been crucial to the city’s development and continues to play a vital role in its economy. Alcoy is also home to a burgeoning tourism industry, driven by its rich history, cultural festivals, and natural beauty.
In recent years, the city has made efforts to promote its local artisanal products, such as traditional textiles and ceramics, which are popular with tourists. Additionally, Alcoy’s strategic location between Alicante and Valencia, combined with its affordable real estate and high quality of life, has attracted small businesses and startups, especially in the tech and creative sectors.
Local businesses are often family-owned, many of which specialize in traditional crafts. The region’s agricultural sector is also important, producing olive oil, wine, and almonds, which are featured prominently in local cuisine and available in local markets.