A nice wrap-up provided by malta-expatguide.com: "Following
Malta's independence in 1964, the Maltese economy has evolved from
one dependent on the stationing of British naval units on the islands,
to a market-driven economy, with particular emphasis on higher value
added economic activities in services, notably financial services and
tourism. Challenges to the Maltese economy are the relatively small
domestic market and the disadvantages brought about by insularity. In
addition, Malta's only natural resources are its yellowish, porous
limestone and very limited freshwater supplies. It only produces around
20% of its food needs and imports all of its energy, although some
investment in promoting solar energy has been undertaken by government.
Yet it also enjoys an advantageous location between Europe, North
Africa, and the Middle East, as well as a multilingual, productive
workforce, factors which have attracted foreign investment. The economy
depends on trade, manufacturing, tourism, and financial services.
St. Julians/Sliema - Malta's commercial hub.
Despite
the economic and political instability that have affected the
Mediterranean region in recent years, Malta's economy continued to
perform well. GDP per capita in 2011 stood at around €21,000 or 85% of
the EU average. Measures have also been taken to enhance the
competitiveness and soundness of its growing
financial sector, which is currently eight times the size of the economy
and which has remained largely unaffected by the European ... read on."
