The State of Madeira’s Banking Sector
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.
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
Immigrants Double Social Security Contributions in Just 4 Years
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 Has a New Owner
Forum Madeira shopping center, marking 20 years since its launch, has been sold to the Spanish company Caminho PropĂcio, transitioning from its previous German owners, DWS.
Funchal Among Least Profitable Cities in Portugal for Real Estate
Funchal is currently one of the least profitable cities for investors looking to buy property for rental income.
Renewal Works Begin on SĂŁo Vicente Seafront
The SĂŁo Vicente seafront is set for a major renewal, with an investment exceeding 3.5 million euros planned over the next four months.
Pingo Doce vs. Continente: Which Supermarket Offers the Best Prices?
Pingo Doce or Continente? Some of you might already have a clear picture of this, but the outcome for the second half of 2024 is a close call. Here is Portugal’s cheapest supermarket.
New Cruise Passenger Tax Gets Funchal €50,000 in Only Two Days
Funchal introduced a €2 tax for cruise passengers on January 1, generating €50,000 in its first two days, with most revenue allocated to the municipality.
Meet CARAM, Madeira's Slaughterhouse
It's where things end: CARAM is Madeira’s main slaughterhouse, overseeing the slaughter of thousands of animals annually and providing employment to 44 people.
Madeira Offers Up to €6,000 Incentive for Buying Electric Cars
Exciting news for anyone thinking of going green on the road! With financial incentives of up to €6,000, Madeira is about to make electric vehicle ownership more accessible than ever.
Grupo Sousa Seeks To Reduce Costs By Allowing Bigger Ships
Grupo Sousa suggests allowing larger ships to boost efficiency and reduce costs, while imposing a €5 fee for ferry trip changes to reduce no-shows.
Housing Valuation in Madeira Reaches Record €2,010/m²
In October 2024, Madeira’s housing bank valuations surpassed €2,000/m² for the first time, reflecting the highest growth in Portugal. The increase was mainly driven by rising apartment valuations and strong market activity.
