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TIMES OF MALTA
 

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MALTA WEATHER:

MALTA & GOZO - situated in the Heart of the Mediterranean - are ideally located as lifestyle and investment destinations. Ancient lands, an exotic environment and fantastic weather ensures a picture-perfect country.

About Malta

HISTORY AND GEOGRAPHY

COUNTRY INFORMATION

  • Capital – Valletta
    (35°54`11.50"N 14°31`15.31"E)
  • Population – 410,290
  • Population density – 1,298 people per sq. km
  • Official language – Maltese and English
  • Currency – Euro
  • Religion – 98% Roman Catholic, small Jewish community
  • Location – 93 km south of Sicily
  • Area – 3 major islands
    Malta is 246 square km
    Gozo is 67 square km
    Comino is 3 square km
  • Terrain – low and rocky, coastal cliffs
  • Climate – Mediterranean with hot dry summers (average 25.8 degrees) and mild winters (average 13.2 degrees)
  • Rainfall - average annual rainfall of 546mm
  • Sunshine – 300 days a year
  • Internet domain – .mt
  • International dialing code - +356
  • Time Zone – 1 hour ahead of GMT
  • Administrative divisions – administered directly from Valletta with 67 local councils
  • Licensed road vehicles/1,000 inhabitants – 699.8
  • Strategic position – crossroads between Europe, Africa and Asia
  • Airline – Air Malta
  • Flights – 2 to 3 hours from most European cities using most major carriers
  • Tourist arrivals – 1.2 million
  • Average tourist length of stay – 8.9 nights
  • Postal Services – mostly a 3-day delivery to the UK using regular mail
  • Electricity – Enemalta operates 2 interconnected coal fired power stations generating 571MW
  • Water – over half the water required comes from 3 reverse osmosis plants with remainder from ground water
  • Quality of life Index – ranked 13th of 193 countries in this index
  • Health Care – ranks highly internationally with six acute care hospitals and a range of general and specialist private facilities
  • Life expectancy – ranked first with an average of 78.6
  • Good relations in Euro-Med, North Africa and Middle East
  • Non-aligned, neutral state
  • Independent Judiciary – administrative and fiscal legislation modeled on British law
  • No domestic or foreign policy issues that threaten Malta’s stability or integrity
  • International Living Index – 100% for freedom, risk and safety
  • Member of the UN, the EU and the Commonwealth
  • Military alliance – none
  • Cultural and historic connections to N Africa and Middle East
  • Harbours – Valletta and Marsaxlokk. The latter is one of the largest free ports and transshipment hubs in the Med
  • Ferries – regular passenger and cargo ferries to mainland Italy, France and N African coast.
  • University – Oldest university in Commonwealth outside UK
  • Schools – American school ranks amoungst best in the world and lowest fees in Europe
  • Tertiary Education – 60% of students go on to tertiary education
  • University of Malta has over 8000 students of which 500 are from 80 different countries
  • Local and international schools – there are some 85 schools and tuition centres
  • Housing prices and rentals two-thirds of the prices of relative continental Europe and even more competitive compared to UK market

ECONOMIC INDICATORS

  • Unemployment – 6.5%
  • GDP – Euro 5,398.5 million
  • Balance of Payments current account – -Euro 292.3 million
  • GDP per head - US $ 20,300
  • GDP growth rate – 6.4%
    Inflation     – Dec 2006 – 2.77%
  • Total Government revenue – Euro 2,365.4 million
  • Capital Investment by Government – Euro 257.9 million
  • Education, social security and other spending by Government – Euro 1,896.6 million
  • Total exports – (2007) 2,237.1 million
  • Total imports - (2007) Euro 3,540.3 million
  • Total manufacturing sales – (2007) Euro 2,384.2 million
  • Government debt – 3,289.8 million
  • Government debt to GDP – 60.9%
  • Internet usage rate – 23.6% of which 66% is broadband
  • Legislative framework – in line with EU directives
  • Regulator – single consistent Malta Financial Services Authority
  • International connectivity – excellent: 2 satellite stations; 2 submarine fibre optic cables and more planned
  • Global Financial Centres Index –fourth most likely country to increase in importance in coming years after Dubai, Shanghai and Singapore
  • Local connection – fibre optic to the kerb or building is common
  • EGovernment – ranked 2nd among the 27 EU member states in this provision & sophistication through its IT infrastructure
  • Information and Communications Technologies – World Economic Forum voted Malta 2nd most successful country in promoting this
  • Human Development Index – ranked 32nd of 177 countries with 0.875
  • Financial Services – and related industries set to contribute 25% to GDP in next decade
  • Top-tier base for international companies – infrastructure, double taxation treaties, EU access
  • Standard & Poor’s rating – ‘A’ rating
  • FDI stock to GDP – among highest in EU with 73% reflecting importance of foreign investment
  • Long term yield spreads vis-à-vis the Euro – fluctuated at relatively modest levels and decreased further since 2005 testament to low residual country risk priced in by markets
  • Trading – strategic maritime location; Malta Freeport a main regional hub
  • Operational costs – 30 to 35% of those in the UK
  • Pro-business consistent government policies
  • High scores in property rights, trade freedom, monetary freedom, business freedom and financial freedom
  • Company registration – as little as 24 hours
  • Full imputation tax – only EU state to have this and been so since 1948
  • Distributed profits - shareholders receive full credit for any tax paid by the company on distributed profits.
  • Official and legal documentation in English and Maltese
  • Low wage cost – around 40-50% of EU states
  • Numerous international companies attracted by exceptional quality, flexibility and work ethic of maltese
  • Foreign workers treated the same as Maltese re labour legislation & collective agreements