The island of Tenerife has very high speed internet, due to the needs of the research station at Izana. And the fastest internet that I have encountered anywhere in the world was (of all places!) at the Hotel Marte in Puerto de la Cruz. So it's certainly possible.
Having said that, the available speed varies greatly from suburb to suburb, and even from house to house within a suburb. If your business depends on fast internet, you absolutely need to verify its quality at the specific individual premises before you rent or buy.
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