1 Million Overnight Stays in April as Tourism Revenue Rises 22%
In April 2025, Madeira surpassed one million overnight stays and saw tourist revenue rise 22.2%, setting a new record.
Economy
Explore the economic pulse of Madeira. Get the latest news on key sectors like tourism, agriculture, and industry. Stay updated on business developments, investments, employment trends, and government policies shaping the island's financial landscape.
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Madeira Extends Emergency Grain Stock as World Conflicts Intensify
Madeira’s strategic grain reserve, set up in 2022, has been extended to 2027. It stores 4,300 tonnes of wheat in Caniçal to protect the island’s bread supply. The €700,000-a-year initiative strengthens food security amid global uncertainty.
Trump Threatens 50% Tariff on EU Goods Starting June
U.S. President Donald Trump recommended a 50% tariff on EU products starting in June, criticizing the EU’s trade policies as unfair.
Foreigners Make Up 85% of Tourism in Madeira, Highest in Portugal
With 2.6 million overnight stays from January to March - 85% from foreign visits - Madeira’s tourism industry keeps reaching new heights. Here are the most recent numbers!
Ronaldo Leads Top 10 of Highest Paid Athletes With €245 Million
Cristiano Ronaldo’s remarkable earnings in Saudi Arabia have made him the highest-paid athlete in the world for the third consecutive year. His estimated annual income stands at €245 million.
Number of Unemployed People in Madeira Rises by 12.6%
Madeira’s unemployment rises to 6.7% in early 2025, with 9,100 jobless. Despite challenges, employment and labor force participation remain historically strong.
Government Plans 1% VAT Decrease on Essential Goods
Madeira’s government plans to reduce VAT from 5% to 4% on 90 essential goods. They say it will ease household costs, but critics question its impact and timing. Is it a PR move or a well-intentioned action with little effect?
Madeira and China Discuss Closer Economic and Cultural Ties
The Chinese Ambassador to Portugal met today with Madeira’s Representative to strengthen ties in many economic sectors.
JPP Demands Study on the True Cost of Living in Madeira
After decades of autonomy, JPP’s Filipe Sousa says it’s time to truly measure the real costs of living in Madeira - a bold move that, according to him, should have been taken long ago.
225 Jobs at Risk as Tobacco Production Set to Relocate to Mainland
The century-old tobacco factory in Madeira may shut down by the end of 2025. All production is set to be moved to mainland Portugal, putting 225 jobs at risk in both Madeira and the Azores.
Madeira Collected €351,000 from Hiking Trail Fees in Late 2024
Trail fees brought Madeira €351,000 in just three months. Now that every popular hike comes with a charge, earnings are on track to hit the millions.
