Malta is among the only four EU countries with projected growth rates of above 1% in 2023 due to its focus on innovation and tech-based sectors.

The EU’s smallest country has skyrocketed in importance since it joined in 2004, with an emerging financial services sector and strong foreign direct investment programs. While Malta’s economy was hit hard during the pandemic, the country’s gross domestic product rebounded by 5.9% in 2021, higher than its strong growth rates in 2019 before the crisis. The latest projections by the Central Bank of Malta estimate year-on-year economic growth of 6.8% in 2022. Malta is actively taking advantage of its strong potential as a hub for digital activities. The service-based economy has diversified, with the government prioritizing investments in its new digital banking sector along with information and communications technology, med-tech, high-end manufacturing, online gaming and other knowledge-based segments.


One of Malta’s essential economic components is its tourism sector, which provided 16.9% of all employment and expenditures of around $2.4 billion in 2019. Strong funding during the COVID-19 period kept the sector afloat, with a total budget of almost $160 million in 2020. The government is now looking to take advantage of the new sustainable tourism trend as visitors return, with total tourist expenditures rising by 91% in 2021. According to the OECD, pre-pandemic rates of the vital sector is expected to return in 2024 or 2025.

6,6 %

Estimated real GDP growth rate for 2022

Top in EU

Malta ranked 1st in eGovernment services by EC

€208.6 B

total FDI stock first half 2022


Jurisdiction in the world to regulate blockchain in 2018


Unesco World Heritage sites including capital city Valletta


Tourists visited Malta last year