Malta with an idea for itself. The aviation sector at the heart of economic transformation
The aviation sector, closely linked to the planned growth in the number of foreign tourists – especially from outside Europe – is expected to grow almost fourfold, from the current €700 million to €3.3 billion, and account for 9% of Malta’s GDP . The expected growth is based primarily on an increase in the number of intercontinental connections.
LOT has recently started flying to Malta. The key will be to attract tourists from other regionsThe network of connections is planned to be expanded to include destinations in North America, the Middle East and Asia. In the case of the latter region , cooperation with LOT Polish Airlines , which launched direct connections with Malta in April this year, may be of strategic importance. Wizz Air and Ryanair also offer longer flights to this destination from Poland.
Forecasts assume that the number of foreign tourists visiting Malta will increase by 1 million – to 4.5 million per year by 2035. At the same time, the average daily expenditure of a tourist is to increase by 50-90%. This will be possible thanks to the further development of year-round tourism, especially in the autumn-winter season, the premium segment and the MICE market (Meetings, Incentives, Conferences and Exhibitions).
Seven Strategic Industries. Growth of Over 150 PercentMalta’s new development vision focuses on seven strategic sectors: maritime and air transport, financial services, innovative manufacturing (including semiconductors and pharmaceuticals), digital entertainment, construction and tourism.
By 2035, the combined value of these sectors is expected to increase by over 150% , reaching EUR 18 billion (currently around EUR 7 billion).
The document is currently in the public consultation phase, which will last until 9 September . The final version of "Malta Vision 2050" is expected to be published by the end of this year.
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