In 2023

Turnover of business services activities increased by 11.9% compared to 2022

The Regional Directorate of Statistics of Madeira (DREM) has released today the final data for 2023 from the Business Services Survey (BSS).

The BSS encompasses the following eight activities: "Computing", "Legal Services", "Accounting, Auditing, and Consulting", "Architecture and Engineering", " Technical Testing and Analysis", "Advertising", "Market Studies and Opinion Polls", and "Employment Activities".

In 2023, the total number of enterprises engaged in these activities amounted to 3 133, an increase of 8.1% compared to the previous year. Of these, 37.3% were involved in "Accounting, Auditing, and Consulting", 20.9% in "Architecture and Engineering", 18.9% in "Computing", and 17.3% in "Legal Services".

During this period, the turnover of enterprises based in the Autonomous Region of Madeira (ARM) engaged in business services reached 741.2 million euros, representing an increase of 78.9 million euros (+11.9%) compared to 2022. This figure marks the highest turnover recorded in the available series, which began in 2008 and continues a trend of consecutive annual growth since 2014.

Among the business services activities, "Information Technology" generated the highest turnover, amounting to 259.0 million euros, although this represented a decrease of 21.6 million euros (-7.7%) compared to the previous year. Conversely, "Accounting, Auditing, and Consulting" generated 149.8 million euros, an increase of 35.3 million euros (+30.8%) compared to 2022. "Architecture and Engineering Services" and "Employment Activities" recorded turnovers of 125.5 million euros and 66.0 million euros, respectively, marking increases of 33.3 million euros and 5.8 million euros year-on-year.

In 2023, the business services sector in the ARM employed 9 565 persons, an increase of 444 persons (+4.9%) compared to 2022. Similar to the trends in the number of enterprises and turnover, employment in these activities reached a historic high, with uninterrupted growth since 2015.

The "Employment related Activities" category employed the highest number of persons (2 893), followed by "Accounting, Auditing, and Consulting" (2 493) and "Computing" (2 032).

In terms of sex distribution, approximately 63.1% of the workforce were men, while 36.9% were women. Between 2022 and 2023, the proportion of female employment declined by 2 percentage points.

Notably, turnover per employee in the business services sector increased from 72,600 euros in 2022 to 77,500 euros in 2023 (+4,900 euros). However, personnel costs per employee decreased from 23,700 euros in 2022 to 21,500 euros in 2023 (-2,200 euros).

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