Malta is a small island promising big possibilities. The Malta Tourism Authority may go to great lengths to show off the island’s eclectic history, golden beaches, blue sea and warm climate, but beneath that sunny exterior also lies one of Europe’s most stable, buoyant and diverse economies.
Following the 2008 global financial crisis, the European Commission released an in-depth report in which it was revealed that Malta’s economy had emerged from the chaos relatively unscathed and in good shape.
This was by no means an accident. For years, successive Maltese governments have been laying the foundation for a legislative and economic framework that supports and enhances investment, commerce and growth, turning this Mediterranean haven into a fiscal and investment paradise. Today, Malta is internationally recognised as a location offering solid investment opportunities that provide excellent growth potential.
Malta’s financial services sector is particularly strong and is considered to be one of the country’s main attractions for investors. This year the financial services industry is expected to contribute 25% to the country’s GDP.
The property market is also buoyant, with development very much on the agenda. This is partially expounded by the fact that an increase in the number of multinational companies relocating to Malta in recent years has led to a housing boom in a property market that was already very stable, having bypassed the dire state of affairs faced by many European housing economies.
In addition, the Maltese government’s introduction of tailor-made schemes and programmes that allow high net worth individuals to take advantage of low tax rates has seen an influx in the upscale housing sector.
However, it is not just individuals that are relocating to Malta. Businesses are also taking advantage of incentives offered by the Maltese government to attract international companies to our shores, thus re-establishing Malta’s reputation as a gateway that connects North Africa and the Middle East with Europe. Naturally, as a EU member, Malta enjoys all the advantages of the EU regulatory framework and free market. Legislation is clear and the government proactive in boosting business, making Malta a stable, low-risk place for investment with the huge potential to grow.
Malta’s location in the centre of the Mediterranean and excellent infrastructure makes it a state-of-the-art logistical and manufacturing centre, with a qualified work force, low overheads and an English-speaking work environment. Most of the population is bi-lingual to a substantial degree, with both English and Maltese as national languages. Italian is very commonly spoken, with French, German and Arabic less common, but still occasionally used.
The country’s socio-political landscape is robust and stable, with low unemployment and inflation. Crime rates are very low and there is no political unrest, or other serious social disturbances.
Finally, the lifestyle Malta offers is on par with any Mediterranean European coastal city. Malta’s towns, particularly those along the north coast, are cosmopolitan and buzzing with activity, café culture and international high street brands. Malta’s small size makes anywhere on the island an easy destination to get to. It’s easy to meet friends at a moment’s notice, or to take a weekend break in nearby Gozo. Healthcare and education standards are also of a high standard.
Life in Malta brings together the best of both worlds: the efficiency of a European workplace and the relaxed atmosphere of a Mediterranean holiday destination. Malta is the place, possibly the only place in the Mediterranean, where easy life and driven success sit comfortably side by side. If people say that life is what you make it, Malta is where you make it.