Not a good start
Last week this paper reported exclusively that Malta ended up ranked at 49th place out of 85 cities for startups.
This emerged from a study done by the furnished apartment platform Nestpick which analysed 85 cities on a variety of issues which would impact a start-up.
The only issue or aspect in which Malta emerged as better than its competitors was the fact that Malta (and Austria) have more holidays. Hardly a really competitive aspect.
We reported that Valletta Malta is ranked at 49th.
Its startup ecosystem is ranked as 2.88.
Its salary for project management at startup level is $23,644 and for experienced workers at $53,628.
Its salary for technical levels is $25,982 at entry level and $61,642.
As for marketing, its entry level salary is $20,371 and $47,102 for experienced persons.
Social Security and Benefits is classed at 3.36 as regards Income Tax, 4.93 as regards health care quality and 5.00 as regards vacation days.
Cost of Living is classed at 3.99.
As regards quality of living, equality is classed at 2.53 and safety at 4.18.
This doesn’t half begin to explain the findings. Just before Valletta there is Milan, Tokyo and Brussels and just behind Valletta there is Toulouse, Shanghai and Brussels.
The start-up ecosystem ranking for Valletta is 2.88 whereas it is 4.10 in the case of Milan and 4.14 in the case of Tokyo.
The salaries to be obtained in Malta seem at a first glance on the low side: project management at start-up level is $23,644 (Milan: $32,000; Tokyo $26,000); at technical level is $25,982 (Milan: $27,449; Tokyo: $47,486); in marketing it is $20,371 (Milan: $25,125; Tokyo: $31,258).
The real differentiation comes when one considers income tax, in which Malta was given a rating of 3.36 (better than Milan at 2.59 and Tokyo at 2.81 but worse that top placed Singapore at 4.91 but better than second placed Helsinki at 1.96.
With regards to healthcare quality Malta was given a ranking of 4.93 (Milan at 4.99 and Tokyo at 4.84) whereas Singapore at 4.91 is lower and Helsinki is lower still at 4.52.
When it comes to holidays, Malta, as said, together with Vienna, beats all competition.
As regards the cost of living, Malta ranks at 3.99 whereas pricey Milan ranks at 3.70 and pricier still Tokyo ranks at 3.36.
The last two columns regard quality of living where Malta ranks at 2.53 as regards equality and a high 4.18 as regards safety. Milan ranks 2.53 and 3.26 respectively and Tokyo 1.64 and 4.78 respectively. Singapore ranks 3.29 and an astounding 5.00 for safety. And we thought Malta was safe enough.
The end result is that … Valletta ranked at the 49th place out of 85 cities. This is simply not good enough. When people consider relocating, they consider such tables which become determining in the choices they make.
This is not something where we look at the government and demand it takes action. This is something where we all can and should lend a helping hand.