Tourism remains one of the strongest economic sectors in Malta, according to the National Statistics Office (NSO) which has reported an increase in tourist numbers in December 2016. On a year to year basis, this number grew by 32.8%, surpassing expectations. The number of investors opening restaurants or hotels has also increased, considering the development of this industry over the last few years. Our Maltese company formation consultants can assist foreign investors seeking to open restaurants or hotels in this beautiful country.
Driven by the winter holidays, the total number of tourists visiting Malta in December 2016 rose to 96, 395, the tourism industry registering the highest growth of all economic sectors in that period of time. According to the NSO, the tourism sector registered a 32.8% growth in December 2016, compared to the same month of 2015, when the number of tourists was of 72,568.
In the last month of 2016, 80,443 foreign citizens came to Malta for touristic purposes, however close 10,000 individuals visited the country for business purposes. Our company incorporation agents in Malta can assist foreign citizens coming here to open a business.
According to the NSO, most of the tourists arriving to Malta came from EU neighboring countries, however the number of tourists coming from other parts of the world based on the visits visas registered by the Immigration Office was not one to be neglected.
The number of tourists coming from EU countries rose by 34.5% in December 2016, compared to December 2015, most of them with ages between 25 and 44. The total nights spent by these visitors also rose by 10.3% on a yearly basis.
The total expenditure in the tourism industry based on the receipts reported by Maltese retailers was estimated at 62.3 million euros in December, 16% higher than in 2015.
A report on the tourism sector in 2016 shows the overall growth of this industry was 10.2% compared to 2015, while the total expenditure rose by 4.3% on a year-to-year basis.
If you want to open a restaurant, hotel on any other business in the tourism sector, do not hesitate to contact our company registration consultants in Malta for assistance.