The small island nation Malta in the Mediterranean has been on the news a lot more in recent years, as the nation climbed up the economic ladder to quietly compete with other nations. For a while the country had the third lowest unemployment rate in Europe, proving that the government is on the right track to create more work places. However, Malta now moved down one step of the ladder and rests on 4th place again. But this is not all bad news, the country is joined by Austria and Luxembourg, and all three countries have a very low unemployment rate of just 5.7%. The top two countries are Germany with 4.7% followed by the UK with 5.5%. The overall unemployment went up by 0.1% in Malta, compared to last year when it stood at 5.6% in December.
The countries with the highest unemployment are Greece with 25.4% and Spain with 22.7%. The figures from Eurostat also show that the overall unemployment in Europe is getting lower, and more people are in full-time employment. The EU28 unemployment was at 9.7% in April, and it went down 0.6% compared with the figures from last year.
Despite the slight drop, Malta is still doing very well, and more companies are settling on the island. This in turn leads to more jobs for citizens and people moving to Malta in order to work. Especially skilled people will find a lot of promising opportunities in the iGaming and finance industry, and the government is implementing measures to provide more training for improving the qualifications of employees and students.
Malta also offers incentives to attract companies to settle their business on the islands. among these are fiscal incentives, such as for example the possibility to achieve an effective corporate tax rate of 5%. If you would like information about the Malta limited company model and if this could be something for your company, you are welcome to contact us at the office of Dr. Werner & Partner.
