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Overview

Tourism is an important part of Malta’s economy, contributing €1,776.8m to its economy and employing 46,000 people (28.6% of workforce) in 2011 (World Travel and Tourism Council -WTTC).  According to the WTTC Malta ranks 13th out of 181 countries for the relative contribution of tourism to its economy, with a 14.5% share of GDP compared to the world average of 5.2% (2011).  Tourist arrivals are mainly from the UK and Italy, although 25% more German tourists visited in 2011. In 2010 visitors totalled 1,332,000.  During the first half of 2011 (January–June) almost 620,000 tourists arrived in the country, an increase of 12% from the year before.  In the same year visitor exports generated €1,047.6m (18.6% of total exports).  This is predicted to fall by 4.6% in 2012, but grow by 2.7% p.a. from 2012-2022.  The Maltese tourism sector remained fairly stable despite the financial crisis in 2008 that seriously affected the global tourism industry although the hotel and restaurant sector lost 10% of its GDP over 2009 to 2010.  The tourism and travel industry is regulated and promoted by the Malta Tourism Authority (MTA), which is part of the Office of the Prime Minister.  Alongside the MTA, the Tourism and Sustainable Development Unit ensures that Malta meets EU policy regarding tourism and the environment.

Investment

Malta is a very popular summer holiday destination for ‘sun and sea’.  The government hopes to diversify the sector, encouraging the promotion of the country’s rich cultural heritage.  As part of this aim a fund of €250,000 has been allocated to aid local councils in administering cultural events throughout the year, hoping to promote traditional activities and support local artists.  This includes developing tourism within rural villages, in order to give tourists an idea of how life used to be on the islands.  Through these initiatives, the government intends to help spread tourism more evenly and ease problems of seasonality.  

Additionally, the MTA is encouraging the growth of the already well-developed sports tourism sector in Malta, which has traditionally had a strong focus on scuba diving, golf and rock climbing.  In 2009 the Pilot Sports Tourism Scheme saw around €90,000 given in subsidies to various sports organisations.  The sports tourism sector has great potential for investment and could encourage the overall development of the tourism industry.  The MTA has plans to support and develop the sustainable diving industry.

Investment in travel and tourism was €136.7m in 2011, or 15.4% of total investment.  This was expected to rise by 2.7% in 2012, and continue to rise by 5% over the following ten years to €229.4m in 2022 (19.2% of total).