The government recently released its Pre-Budget document in the run up to this year’s Budget, which gives a snapshot of some important economic indicators, benchmarked against other places, or caputuring trends over decades.

Attracting more visitors

Malta welcomed 1.8 million tourists in 2015 but the figures are even more impressive when compared to its peers.

*Forecast (Sources: NSO, UNWTO)*Forecast (Sources: NSO, UNWTO)

Making work pay

The government has been introducing measures to ‘make work pay’, using a mixture of carrots and sticks to get people from dependence on the benefit system to employment, training and corporation.

Between December 2014 and July 2016, over 3,200 claimants left the benefits system and found employment.

The number of people not in employment, education or training in Malta dropped from 10.9 per cent in 2006 to 9.8 per cent last year, according to Eurostat. Malta has the sixth lowest percentage in the European Union and while the average rate in the EU increased, it dropped in Malta.

The Maltese economy has changed dramatically over the past 15 years since 2000, according to the Pre-Budget Document released by the Finance Ministry. The influx of financial services and gaming has all but eclipsed the manufacturing heydays of textiles and then ST Microelectronics.

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