Malta BUCKS Global Trends with Strong Economic Growth

According to a fresh report by PwC Malta, Malta is bucking global trends with strong economic growth. The report forecasts a GDP growth of 4.4% for fiscal year 2024, slightly down from the previous year’s 5.6%. This growth stands out against major economies like the US, Japan, Italy, and France, which are expected to see declines.

Although Malta’s growth is projected to align more closely with the euro area average soon, domestic consumption remains the primary driver of its GDP, echoing the Central Bank of Malta’s findings. Despite this, when adjusted for inflation and population growth, real consumption per capita hasn’t changed much since 2019.

Inflation continues to be a global concern, and Malta is no exception. Despite a decline, the island’s inflation rate is anticipated to surpass the EU average due to rising prices in food and services. To address this issue, the Maltese Government has implemented the “Stabbiltà fil-Prezzijiet” scheme, aiming to reduce prices on essential goods. If sustained throughout the year, this initiative could potentially alleviate inflation by 0.31 percentage points.

Preliminary data for 2024 suggests a slowdown in economic sentiment and while inflation is moderating, it remains higher than the euro area average, indicating a need for further stabilization.

Find out how you can invest in this resilient economy and contact Merle Whale merle@maltalifestyle.co.za

Mastering Thinking Skills for a Successful Relocation!

Embarking on a journey whether semigrating or especially emigrating to a new country is like a rollercoaster ride – exciting (and can be scary too!), filled with twists and turns, whether in personal, family, or business contexts.
Let’s break down the relocation adventure into its basic parts: facts, feelings, smart thinking, positivity, creativity, and planning. Following the lead of Dr Edward de Bono, renowned for “Lateral Thinking” and the “Six Thinking Hats” technique, we can simplify this transition. It’s like a worldwide brain workout used by big companies and even taught in schools around the globe. Get ready to make your move with these cool thinking tools; they certainly helped me!
This is the fun part: Picture yourself putting on six different coloured “thinking hats,” each shining a light on a special aspect of the move: facts, feelings, critical thoughts, positivity, creativity, and planning. It’s like having a magic wand for making decisions! These metaphorical hats help you create a well-rounded plan, making your adventure to a new place super smooth and full of enriching experiences.
These colourful hats helped me explore my situation from different angles until I got a clearer picture of what I needed to know and do! Each hat is a different colour and represents a cool way to think: White for facts, Red for feelings, Black for caution, Yellow for positivity, Green for creativity, and Blue for planning. Imagine wearing these hats one by one—like a wizard changing hats. It’s a fun, easy, and effective way to make decisions or solve problems—try it and step into your future with confidence!
Here is an example of how we applied the Six Thinking Hats to our process of relocating to Malta, from South Africa and comparing it to Mauritius.
White Hat (Facts and Information):
– Research the economic scene, job opportunities, and market conditions in the new country.
– Explore employment rates, industry sectors, and economic stability for informed career decisions.

Red Hat (Emotions and Intuition):
– Reflect on your feelings about the move.
– Trust your gut reactions and assess emotional alignment with personal goals.

Black Hat
(Critical Thinking):

– Analyze potential challenges, like cultural differences and legal requirements.
– Identify potential pitfalls for a realistic assessment of potential hurdles.

Yellow Hat
(Positive Thinking):

– Focus on the positives of personal and career development.
– Consider how the move aligns with goals for positive life changes.

Green Hat (Creativity):
– Engage in creative thinking for innovative adaptation.
– Explore novel applications of skills and brainstorm creative solutions.

Blue Hat (Planning and Organization):
– Put on your planning hat for a structured relocation plan.
– Set clear goals, establish a timeline, and outline steps for a smooth transition.

Having crossed paths with Dr De Bono during business training and events in South Africa, I’ve applied his thinking technique for over thirty years, influencing both my professional and personal life. Little did I know that I would eventually find myself living in Malta, his birthplace.
Nestled in the Mediterranean, Malta’s vibrant nation has a rich history and diverse culture with a legacy tied to the Knights of Malta. The country was collectively awarded the George Cross in World War II, earning titles like the Nurse of the Mediterranean.

  • Cultural Richness: Malta boasts a diverse and rich cultural heritage, offering expats a unique
    blend of history, traditions, and vibrant local festivities.
  • Language Advantage: English is one of the official languages, making it easy for expats to
    communicate and navigate daily life without language barriers.
  • Stable Economy: With a robust, stable economy, Malta provides expats with opportunities for career growth and financial stability.
  • Mediterranean Lifestyle: Enjoy an island lifestyle combined with EU & UK infrastructure, with great weather, stunning landscapes, and a secure, comfortable pace of life.
  • Healthcare and Education: Malta offers high-quality healthcare services and a reputable
    education system, making it an attractive destination for families as well as postgraduate studies.
  • Strategic Location: Positioned at the crossroads of Europe, Africa, and the Middle East,
    Malta’s strategic location facilitates easy travel and exploration of neighbouring regions. Well-connected with regular commercial providers.

With 12 years of residency, I’ve leveraged my relocation experiences in Gibraltar and Mauritius and, with a partner from the UK and Isle of Man, assisting individuals and families with their relocation journeys.  Likewise keeping a sustainable South African (SAFFAS) community is important.
For information on how I can assist you please contact merle@maltalifestyle.co.za whether you are looking at prime property investments, relocation options, or setting up a business and perhaps hosting an event in Malta.

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