La Vega de San Mateo has traditionally been a municipality whose economy has been centered on the primary sector, with livestock and agriculture being the pillars of municipal development for many years.
Regarding agriculture, potatoes stand out as the main crop, followed by other fruits and vegetables. This sector gained significant momentum with the creation of the Agricultural and Artisan Market, which is currently the economic heart of the municipality. The Market, recognized as one of the best in the Canary Islands, has allowed farmers, for more than thirty years, to find an outlet for their products, which reach them directly to the consumer. The quality and freshness of the products and the possibility of purchasing them directly from the producer have made the Market one of the most visited on weekends, when thousands of people come to buy not only local products but also artisanal products.
As for livestock farming, it was particularly important in the 19th century, when the municipality held a well-known and popular livestock fair where ranchers negotiated to buy and sell their cattle. This activity has suffered a significant decline in recent decades, so much so that the livestock fair is now held only symbolically during the municipality's Patron Saint Festival. However, livestock farming continues to be a source of income for numerous Vega de San Mateo families, who profit from their farms by selling milk and making artisan cheeses.
In the last decade, Vega de San Mateo has experienced significant growth in the service sector, especially in the hospitality and catering sectors. The municipality's business network boasts a large number of bars, restaurants, and venues dedicated to gastronomy. Furthermore, the rise of holiday tourism has led to an increase in the accommodation offering in the municipality, where rural tourism had already gained particular importance in the last decade. To promote this type of tourism, the City Council has also promoted the improvement and creation of spaces such as the Camaretas Hostel and the Los Corraletes Hostel over the last decade, located in enclaves of great tourist, historical, and ethnographic interest.
