Porto Santo positioned as year‑round investment hub by Finance Secretary Duarte Freitas

Regional Finance Secretary Duarte Freitas told the closing session of the Expo Porto Santo that the island should shift from being viewed solely as a tourist destination to a year‑round centre for investment, job creation and business development. He highlighted that 2024 saw record economic and demographic indicators: a historic population of 6,916 residents, 657 companies, more than 1,650 jobs and a turnover exceeding €80 million. Unemployment continues to fall and, according to INE data, Porto Santo has the second‑highest per‑capita purchasing power in the autonomous region, after Funchal.

Freitas stressed the island’s stable public finances and “responsible public accounts”, noting measures such as reduced corporate tax for micro, small and medium enterprises, favourable access to EU funds and an enhanced inter‑island mobility subsidy that has been in place since 2016. He urged private investors to see Porto Santo as a viable location for long‑term projects that can generate employment, retain population and sustain economic growth.