2017 set to mark new record numbers of tourist arrivals

The latest MHRA Forum was held at Corinthia Hotel St George on the 30th November. The results of the BOV-MHRADeloitte survey for the sector were presented, as well as the Restaurants Performance Survey for summer 2017.

Presenting the results for Hotels for the third quarter of the year, Raphael Aloysio, Deloitte’s Leader - Financial Advisory, said that, “based on current trends, 2017 is set to achieve new record numbers of tourism arrivals.” In addition, it is estimated that during the first nine months of this year tourist expenditure had already reached €1.5 billion. These positive trends are translating into significantly improved operational performance for hoteliers and all other sectors which are dependent on the performance of the tourism sector.

Participants at the Forum were addressed by Prof Peter Sharratt, Head of Strategic Advisory Services for WSP UK, who spoke about the need for more investment in infrastructure in order to ensure the competitiveness and sustainability of the sector of tourism in Malta.

There followed a review of the tourism sector and the impact that Malta’s EU Presidency was envisaged to have had on this vital sector of the Maltese economy. Other key note speakers featured Konrad Mizzi, Minister for Tourism and Robert Arrigo, Opposition Spokesman for Tourism as well as Tony Zahra, MHRA President and Malta Tourism Foundation President of the Board of Governors.

MHRA CEO Andew Agius Muscat facilitated a panel discussion focussing on the survey results and how the sector can be strengthened further. Participants included Alfred Attard, Chief Officer Corporate Finance at Bank of Valletta, Angela Attard Fenech, Director Tumas Group, Dr Tijani Haddad Deputy President of the Mediterranean Tourism Foundation, Professor Peter Sharratt, Head of strategic Advisory Services for WSP UK, Attila Benedek, EU Transport & Tourism Policy Committee Advisor for Vice-Chair Istvan Ujhelyi MEP and Dr Gavin Gulia, Chairman of Malta Tourism Authority.

In his intervention, Alfred Attard said, “The excellent results being achieved by the tourism industry have created a sense of optimism which has encouraged the industry to invest more.” Referring directly to Bank of Valletta’s position, Mr Attard explained, “At Bank of Valletta, we have been very supportive and provided financing to hotels to extend and upgrade their offering.” He concluded by saying that the industry must use this time to invest wisely with a view to making the sector more competitive and sustainable over the long-term.”