The Malta Hotel and Restaurant Association (MHRA) has recently published a paper outlining its vision for the role of tourism, manufacturing and financial services for economic development.
In this report, the Association is challenging the sustainability of recent positive growth in the Maltese economy and is soliciting a shift in focus to long-term economic development, rather than just short-term economic growth.
The paper discusses whether it is possible for Malta to develop its economy by focusing on traditional sectors, namely manufacturing and tourism, and recently introduced sectors, in particular financial services.
Small island states like Malta can only sustain long-term growth if they are export driven, claims the MHRA.