The Regional Secretary for Finance, Duarte Freitas, argued that Porto Santo should increasingly establish itself as a territory for investment, business creation, and year-round employment. He highlighted the evolution of economic and demographic indicators as proof of the island's growth, which reached historic highs in 2024 for the number of companies, workers, and turnover.
Freitas noted that the island has its largest population in history, with 6,916 residents, and the second-highest purchasing power per capita in the Region. He advocated for Porto Santo to "stop being seen only as an excellent tourist destination" and be recognized as a place where it is worthwhile to invest, innovate, and create businesses throughout the year.
To enhance the island's competitiveness, he mentioned measures such as reducing the corporate tax rate for SMEs based on the island, positive differentiation in accessing community funds, and strengthening the Social Mobility Subsidy between islands, which has supported approximately 1.4 million journeys since 2016.
