Malta does not only attract tourists who comes here for the sightseeing, but also foreign investors who come here to set up companies. In other words, business tourism is another way in which Malta attracts a great number of visitors. This number has increased in the first summer month of this year by 47.9%. If you are thinking about setting up a business in tourism, our company formation advisors in Malta can help you register a company.
June was one of the best months of the year for the tourism industry up to this moment, as the total number of visitors reached 232,193. Out of these, 21,015 individuals were businessmen coming to Malta to open companies or to meet with partners, while 189,687 visitors came for holiday purposes. The National Statistics Office (NSO) announced the total increase of tourist numbers was 19.4% in June 2017 compared to the corresponding month of 2016. However, the greatest increase was registered in the business tourism segment – 47.9% on a year-to-year basis.
Most of the tourists entering Malta were young, with ages between 25 and 44, followed by visitors with ages ranging from 44 to 64. Also, most of the visitors came from EU countries. The NSO estimates the number of EU tourists was 193,020, 16.1% more in June 2017 compared to June 2016.
Tourism has a significant impact on the Maltese economy contributing with 193,7 million euros to the GDP, 14.3% more than the amount raised in June 2016 from the same activities. This raise is also due to the increase of nights spent in hotels in Malta. Close 1,6 million nights were spent in Malta in June 2017, 9.6% more than in the same month of last year. The total number of nights spent in private accommodation rose by 12.5% which is the correspondent of the number of business trips taken to Malta in June 2017.
Statistics for the first half of the year indicate that tourism expenditure was 753,7 million euros, 14.8% higher than in the same period of the previous year.
Foreign investors interested in setting up a hotel or any other venture in the tourism sector can contact our company registration consultants in Malta.