Located in the heart of the Mediterranean, Malta welcomes millions of visitors each year. But, it’s not just the tourism that the country attracts. Malta has seen an enormous transformation in its business sector. Its reputation as an innovative, fast paced environment to do business is being increasingly recognised.
With the highest share of hi-tech imports and exports within the EU 1 and strong, long-standing links with Europe and North America, it’s no wonder global expansion in Malta is so appealing.
But, what else makes this small country on the edge of Europe appealing to so many businesses?
Strong geographical location
The country stands in the middle of the Mediterranean. Its neighbouring areas include Sicily, North Africa and Gibraltar. The country has strong links to the EU, Africa and middle East, its sea infrastructure means long-standing trade links with these areas. For businesses, this means easy access to several thriving markets.
Malta’s airport has also been classified as being amongst the top 15 in the world 2.
Finding a skilled workforce won’t be a challenge in the country.
60 percent of Maltese students continue to tertiary education, with law, accountancy and management among the most popular subjects. The Maltese people are also mostly bilingual.
Great business environment
The country has one of the most developed business infrastructures in the world. Its consistent regulatory and professional environment along with a competitive 35% corporate tax rate, mean it’s a great place to do business 3.
The opportunities for global expansion in the country look set to only increase. The country is constantly working on developing new ties with foreign governments to facilitate worldwide market access for all industries.
The country is often regarded as the hub linking the EU’s market of 500 million people and the rapidly evolving markets of Africa. The country also has a steady flow of foreign investment across all sectors of the economy. The finance sector currently counting for 90% of the total. Prominent companies currently invested in Malta are HSBC, Microsoft, Playmobil, Betfair and Ubiblue 4.
A number of Fortune 100 companies have set up operations in the country. These including BMW, Citreon, Peugeot and Vodaphone.
Economic and political stability
Its economic performance is robust and continues to grow. Its Gross Domestic Product (GDP) is increasing whilst on average, the EU’s has shown contraction 5. Malta’s capital markets are also poised for growth, offering opportunities for small and medium cap companies.
Main growth sectors
Malta is one of the fastest growing financial services hubs. Key sectors in the country include ICT, financial services, pharmaceuticals and aviation technologies 6.
Want more information on how Procorre Global can enable global expansion in Malta for your business? Contact us today.