In 2019

Share of tourism consumption in the regional Gross Domestic Product has grown in the Autonomous Region of Madeira compared to 2015

The Regional Directorate of Statistics of Madeira (DREM) releases today, on its official statistics website, the results of the 2019 Tourism Satellite Account of the Autonomous Region of Madeira (TSA-M).

The TSA is an instrument that consists of an integrated information system, whose main objective is to present the activities and products related, directly or indirectly, to Tourism. It allows the perception of the economic dimension of this sector, as well as measuring its importance in terms of Employment, enabling a comparison with other economic sectors in the Region, in the country and internationally.

According to TSA-M, the Gross Value Added generated by Tourism (GVAGT) reached, in 2019, 16.2% of the GVA of the regional economy, amounting to a total of 723.1 million euros.

In 2015, that share stood at 15.9%, although it should be noted that there are differences in how both Accounts were compiled  (the 2019 TSA-M in base 2016 and the 2015 TSA-M in base 2011).

Tourism Consumption in the Economic Territory (TCET), which summarises tourism demand, was around 1,477.4 million euros, representing 28.8% of the Regional Gross Domestic Product (GDP) (26.6% in the 2015 edition of this Account).

In turn, the employment in activities characteristic of tourism, measured in the number of jobs, represented 17.0% of total regional employment (16.7% in 2019).

According to Statistics Portugal, in the country, in 2019, the share of GVAGT in total GVA was 8.1%, while the share of TCET in GDP was 15.3%. The share of employment in the characteristic activities of tourism in total employment stood at 9.7%. These results clearly show, compared to the country, the specialisation of the Madeira´s economy in Tourism.

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