The services sector has established itself as the main driver of formal business creation in the Analamanga region over the past two decades. According to figures presented by the Economic Development Board of Madagascar (EDBM), 57.4% of companies created in the region belong to this sector, representing 6,828 businesses out of a total of 24,799 registered enterprises. These statistics were revealed during the presentation of the agency’s twenty years of investment promotion activities.
This strong concentration highlights the strategic economic importance of Analamanga. Home to the capital city, Antananarivo, the region concentrates the country’s administrative, financial, commercial, and technological centers. The establishment of service-based companies is encouraged by proximity to markets, better access to infrastructure, the availability of skilled labor, and the centralization of economic decision-making.
The services sector includes several high value-added activities such as trade, digital technologies, financial services, consulting firms, real estate, logistics, hospitality, and business support services. Its expansion reflects the gradual transformation of Madagascar’s economic structure, where intangible and knowledge-based activities are gaining increasing importance compared with more traditional sectors.
This momentum also highlights the challenge of economic diversification. While services stimulate urban employment and attract investors, authorities will also need to strengthen industry, agro-processing, and productive infrastructure in order to balance regional growth. Excessive dependence on the tertiary sector could expose the local economy to slowdowns linked to domestic consumption or urban economic cycles.
For the EDBM, these figures nevertheless demonstrate the lasting attractiveness of Analamanga for both domestic and international entrepreneurs. They confirm that the region remains Madagascar’s preferred gateway for investment, offering a more structured business environment than many other parts of the country.
