In 2024
Turnover of non-financial enterprise in the Autonomous Region of Madeira grew 7.4% compared to the previous year, whilst the number of persons employed increased by 6.9%
The Regional Directorate of Statistics of Madeira (DREM), having released final data for 2024 on enterprises last January, today makes available on its official statistics website the final data on non-financial enterprise in the Region for that same year.
With the growing preponderance of major brands, particularly in the retail sector, as evidenced by the annual information from the Large-Scale Commercial Units (UCDR) project, establishment-level data takes on significant importance. It should be recalled that an enterprise, headquartered anywhere in the country, may have several establishments located in different areas of the territory.
Thus, there are establishments located in the ARM belonging to enterprises headquartered outside the ARM, and likewise ARM-based enterprises with establishments on the mainland and/or in the Autonomous Region of the Azores.
In 2024, 37 986 non-financial enterprises were recorded in the ARM, employing approximately 109 379 persons and generating a turnover of 11.2 billion euros.
The number of enterprises increased by 2 166 (+6.0%) compared to the previous year, with "Transportation and storage" (+27.1%), "Accommodation and food service " (+12.2%), "Real estate activities" (+9.6%) and "Construction" (+9.3%) contributing greatly to this trend.
Porto Moniz (+11.6%), Porto Santo (+11.0%), Calheta (+10.0%) and Ribeira Brava (+8.5%) were the municipalities with the highest relative growth in the number of establishments compared to 2023, followed by Funchal (+6.1%), Machico (+6.0%), Ponta do Sol (+5.8%) and Santana (+5.7%).
In terms of geographical distribution, the location of establishments coincides with the location of enterprises: the municipalities of Funchal (49.8%), Santa Cruz (13.3%) and Câmara de Lobos (9.1%) stand out, a hierarchy also observed at the level of persons employed, with those municipalities, in the same order, concentrating 59.5%, 11.7% and 6.7% of total employment.
Compared to 2023, the number of persons employed grew by 6.9% (+7 020 workers), with the municipalities of Calheta (+15.4%), Porto Santo (+11.1%), Ribeira Brava (+10.8%), Santana (+10.2%), Porto Moniz (+8.4%), São Vicente (+7.3%) and Funchal (+6.6%) contributing particularly to this increase. In terms of persons employed, the activity sectors that stood out in terms of growth were "Construction" and "Accommodation and food service" (+10.4%, both activities), "Transportation and storage" (+9.3%), "Administrative and support service activities" (+8.6%), "Human health and social work activities" (+8.6%) and "Arts, entertainment, sports and recreational activities" (+6.6%).
The turnover of regional non-financial enterprises recorded an increase of 7.4% compared to the previous year, with notable growth in "Real estate activities" (+60.1%), "Education" (+42.8%), "Accommodation and food service" (+23.8%), "Human health and social work activities" (+13.4%), "Mining and quarrying" (+13.3%), "Construction" (+10.5%) and "Other service activities" (+10.0%). The municipalities that made the greatest contribution to this increase were Câmara de Lobos (+39.1%), Santana (+25.8%), São Vicente (+16.8%), Ribeira Brava (+16.5%) and Calheta (+11.2%).
It should be noted that enterprises in "Wholesale and retail trade; repair of motor vehicles and motorcycles" (39.3%), "Accommodation and food service" (13.7%), "Construction" (10.4%), "Transportation and storage" (6.5%) and "Administrative and support service activities" (4.9%) account for the largest share of total turnover.
DREM publishes "Business Sector of the ARM – 2024"
With the 2024 establishment data now available, DREM today publishes "Business Sector of the ARM – 2024", also completing the time series (2008–2024) for the same statistical area.
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