A Significant Decrease Compared to 2022 Levels
In a positive turn for the region, the risk of poverty rate in Madeira has decreased by 5.7% compared to the previous year, reaching its lowest point since 2017. This data, compiled by the Madeira Regional Statistics Department (DREM), highlights a notable improvement in the living conditions of the population.
National Poverty Rate Remains Stable
The national poverty risk rate for Portugal was recorded at 16.6% in 2023, showing a slight decrease of 0.4 percentage points compared to 2022. While this figure reflects a national trend of modest progress, Madeira saw a much more significant drop, with its rate falling to 19.1% from 24.8% the previous year.
National Risk of Poverty Rate: 16.6%
Madeiran Risk of Poverty Rate: 19.1%
The lowest value was recorded in Greater Lisbon (12.9%) and the highest in Azores (24.2%). The region of the country with the greatest reduction in the risk of poverty rate was Madeira (-5.7%).
Regional Poverty Line Increases Slightly
The poverty line in Madeira, defined as 60% of the median income per adult equivalent, was set at €7,240 in 2023, marking an increase from the previous year's €6,371. This regional variation in the poverty line highlights differences in local economic conditions, including the cost of living, which directly impacts the measurement of poverty levels.
Survey Methodology and Data Collection
The recent data was gathered through the Life Conditions and Household Income Survey, conducted by the DREM from April to July 2024. A sample of 3,055 households provided insights into the economic status of Madeira. The indicators were calculated based on annual net monetary income from 2023, excluding in-kind income, self-consumption, and other forms of self-sufficiency.
Source: JM-Madeira
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