In 2024

Turnover of business services activities grew by 1.4% compared to 2023

The Regional Directorate of Statistics of Madeira (DREM) publishes today the final 2024 data from the Business Services Survey (BSS).

The BSS comprises 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 2024, the total number of enterprises in the aforementioned activities was 3 272, +4.4% compared to the previous year, of which 37.0% were in "Accounting, Auditing and Consultancy", 20.1% belonged to "Architecture and Engineering", 19.9% operated in "Computing" and 16.6% were in "Legal Services".

In the reference period, the turnover of business services activities of enterprises with registered office in the Autonomous Region of Madeira (ARM) stood at 751.3 million euros, up by 10.1 million over 2023, reflecting a growth of 1.4%. The turnover of enterprises carrying out these activities has been growing successively since 2014, with 2024 reaching the highest value in the available series (which begins in 2008).

The amount from "Computing" activities was the highest among the BSS, standing at around 271.3 million euros (+12.3 million euros compared to the previous year, i.e. +4.7%). In turn, "Accounting, Auditing and Consultancy" activities generated 154.8 million euros (+5.0 million euros compared to 2023, i.e. +3.3%), whilst "Architecture and Engineering activities" and "Employment Activities" recorded turnovers of 102.5 and 75.4 million euros in 2024 (-23.0 million euros and +9.4 million euros compared to the previous year, respectively).

In the reference year, the business services sector employed 10 417 persons in the ARM, an increase of 852 persons (+8.9%) compared with 2023. As with enterprises and turnover, the number of persons employed in those activities constitutes a historical maximum, with this variable having grown uninterruptedly since 2015.

"Employment Activities" employed 3 524 persons, whilst "Accounting, Auditing and Consultancy" and "Computing" had 2 573 and 2 106 workers, respectively.

Disaggregating employment by sex, approximately 64.2% are men and 35.8% are women, with the proportion of female employment having decreased by 1.1 pp between 2023 and 2024.

It should also be noted that turnover per person employed in business services activities dropped from 77.5 thousand euros in 2023 to 72.1 thousand euros in 2024 (-5.4 thousand euros).

Personnel costs per employee in business services activities decreased, falling from 21.5 thousand euros in 2023 to 21.1 thousand euros in 2024 (-0.4 thousand euros).

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