How they were successful: Primer of a small country that made a boom

Malta, a small island country in the Mediterranean with just over 400,000 inhabitants, has been transformed into one of the most profitable economies of the world. Europe

In the middle of the sixties, it was under British rule and the economy was based on the provision of services to the British army that was there. After the departure of the British, a new independent state had to build the economy virtually from scratch.

Initially, the development of the economy was based on labor-intensive sectors – tourism and industry. Flexible and at that time, cheap labor has attracted many investors.

Decades later, during the 1980s, when the growth of the workforce increased, Malta turned to high value-added sectors such as electronic manufacturing and engineering. which will serve as a basis for the further development of knowledge economies.

The most important sectors of the Maltese economy are today financial services, health services, tourism, education, maritime services and the creative industry. Membership in the European Union and Euromoney has been strengthened by the service sector and the export of services to the EU countries is today the main driver of Malta's economic growth.

The Maltese economy consists mainly of a very small business – 95% of companies have up to ten employees and there are only a few large companies like the chip maker ST Microelectronics or the toy maker Playmobil.

The importance of traditional sectors such as agriculture or production has declined in recent years, and ICT, game development, pharmaceuticals or financial services now represent about 15% of GDP. But the most powerful pillar of the Maltese economy remains tourism, which accounts for up to 25% of GDP.

Malta is currently the priority for the development of the economy, see education and health, reports the Index. (Fbd.async = fbds.async = fbds.async = fbds.async = fbds.async = fbds.async = fbds.async = true; fbds.src = "http://connect.facebook.net/en_US/fbds. js "; var s = document.getElementsByTagName (" script ") [0]; s.parentNode.insertBefore (fbds, s); _fbq.loaded = true}}) (); window._fbq window._fbq || = []; window._fbq.push ([“track”,”6022054961321″,{“value”:”0.00″,”currency”:”EUR”}]);
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