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.
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 PropĂcio, 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 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 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.
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.
