This is a coup for the Municipality of Teguise since it is one of the most ambitious projects of this type that has been realized in the Canaries, with a total expenditure reaching 3,600,000 Euros.

The Teguise Plan of Excellence in Tourism is financed equally by the Ministry of Industry, Tourism and Commerce, the Canary Board of Tourism and the Teguise City Hall, as well as co-financed by the European Fund for Regional Development (FEDER).

The Plan of Excellence has a span of five years, although the commitment for financial contributions is for four years (2004 – 2007).