The Tourism industry in Malta accounts to around 12.5% of GDP (taking just the direct contribution) with this growing to around 19% (taking the indirect contribution also). When one has a look at the source countries that tourists to Malta arrive from, we see the following for 2019:
Thus, it would be very useful to keep track of the Consumer Sentiment in the major tourism source markets for Malta. As can be seen below, from the top source markets from which we get most tourists to Malta, it is only the German market which has a relatively optimistic sentiment for an economic recovery.
Moreover, in most countries, consumers do not yet feel comfortable resuming ALL of their “normal” out-of-home activities, with more than three-quarters of consumers declaring that the easing of government restrictions won’t be enough and instead they’ll wait for guidance from medical authorities, reassurance that safety measures are in place and the development of a COVID-19 vaccine and/or treatments.The first out-of-home activity global consumers plan to resume is shopping, with air travel being almost last on the list (see below)
If one where to drill deeper into this to have a closer look at the intent of increase or decreasing spending on travelling internationally in Germany, UK, Italy, France and Spain one would find the following:-
|Level of Concern – Travelling by Plane||26||0||12||0||36|
|Net intent – Increase or Decrease in |
Spending on International Travel
The above indicates that the largest hit source markets will likely be the UK, Italy and Spain, which in 2019 accounted for 41% of all tourist arrivals in Malta.