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!
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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110 Posts
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.
High GDP, Low Wages: Madeira Struggles With Poverty
Madeira’s poverty rate is improving on paper, but despite a high GDP, Madeira grapples with inequality. Overcrowded homes, growing inequality, and youth without opportunities reveal cracks in the region’s economic success.
EasyJet Issues Info on Mobility Subsidy
EasyJet informs that to receive the mobility subsidy, passengers must pay for their flight in full and later submit a document - available on the airline’s website - proving the flight was booked and taken.
Floating Cities: Madeira Hosts 27,000 Cruise Passengers Over Easter
Madeira is experiencing an exceptional Easter week in cruise tourism, with 13 ships bringing over 27,000 cruise passengers.
