President Donald Trump is escalating the tariff policies, announcing a 200% tariff on European alcoholic beverages, including Madeira wine. This move primarily targets France, which sought to hold U.S. tech giants accountable for taxes.
We are working to ensure a cohesive and harmonious society, where locals can have access to affordable housing, says Madeira's president.
Madeira’s taxi drivers are alarmed by the surge in transport licenses, fearing increased competition from tourist transport services and rental cars.
Madeira's tourism industry hit a record €756.7 million in 2024, growing 15.3%. Key figures show increases in revenue, occupancy, and visitor numbers, with German, UK and Portuguese markets driving growth.
Non-property owners in Madeira have faced a significant decline in purchasing power over the past few years. Here's why!
Officials warn that the Mercosur-EU trade deal could threaten Madeira’s banana industry, as cheaper South American imports may overwhelm local farmers, making it harder for them to compete and risking their livelihoods in the European market.
Madeira’s banking sector has changed over the years. In 2023, the number of bank branches hit a decades-long low, while interest income for local banks saw a sharp rise.
Immigrant workers are increasingly vital to Portugal’s economy, now contributing over 12% to social security revenues. Their role in filling labor shortages continues to expand.
Forum Madeira shopping center, marking 20 years since its launch, has been sold to the Spanish company Caminho Propício, transitioning from its previous German owners, DWS.
Funchal is currently one of the least profitable cities for investors looking to buy property for rental income.
The São Vicente seafront is set for a major renewal, with an investment exceeding 3.5 million euros planned over the next four months.
