Today is the feast of Santa Marija. Nowadays, its meaning is the start of summer shutdown, the annual pilgrimage to Gozo for families and groups of friends and some well deserved time off.

Malta will slowly grind to a near halt, as factories shut their doors for a couple of weeks, politicians take a break from the usual daily grind and even Small and Medium Enterprise owners take some time out.

It is what is known as “the silly season”. In fact, it is probably the only time of the year that Maltese (but not Gozitan) people relax and take a break. This year has been challenging to the economy, given the global recession that was triggered by the financial crisis.

The Gozo Tourism Association has gone on the record saying that the sister island has been hit much harder than Malta, with hotels faring particularly badly. However, they are expecting a large influx of Maltese visitors over the weekend and through next week. This boon, they said, would allow hotels and restaurants to recoup some of the business they have lost so far this summer season.

While visitors to Gozo will perhaps not be as liberal with their spending as they usually are, the added business will surely help the tourism sector in balancing their books.

That said, once the holidays are over and the wheels begin to turn again in September, there will still be much to be done. Signals from Europe are improving and Germany and France are already officially out of recession. Whether this is the bottom of the U-curve or the precursor to a dip in the W-shape remains to be seen. However, some argue that Malta and Gozo have not yet felt the true extent of the effects of the recession and will only do so once Q3 tourism arrivals and spending figures are released.

This may be so, but the government and the business sector will have to roll up their sleeves once August is over, one way or another.

If Malta’s slide continues (or indeed worsens), then the bull will definitely have to be taken by the horns in order to arrest the decline. If, on the other hand, we are in sync with the European trend, then there will also be much to do as Malta comes out of recession. Either way, it’s going to be a busy run up to Budget 2010.

The pre-budget document consultation meetings will continue and Finance Minister Tonio Fenech would do well to listen as attentively as possible, to take on board as many proposals and suggestions as he can.

While the government may not be able to act on and implement all of them, we are sure that the various sectors of society give good input and should help the government (as it has in the past) to address the various needs of the country.

Many people will be reading this editorial on the Gozo ferry, or perhaps on their way to the beach. What we are saying might sound like it is a million miles away from August’s lazy days, but the truth is that it is all around the corner. Truth be told, no one really knows what to expect. Happy holidays!Today is the feast of Santa Marija. Nowadays, its meaning is the start of summer shutdown, the annual pilgrimage to Gozo for families and groups of friends and some well deserved time off.

Malta will slowly grind to a near halt, as factories shut their doors for a couple of weeks, politicians take a break from the usual daily grind and even Small and Medium Enterprise owners take some time out.

It is what is known as “the silly season”. In fact, it is probably the only time of the year that Maltese (but not Gozitan) people relax and take a break. This year has been challenging to the economy, given the global recession that was triggered by the financial crisis.

The Gozo Tourism Association has gone on the record saying that the sister island has been hit much harder than Malta, with hotels faring particularly badly. However, they are expecting a large influx of Maltese visitors over the weekend and through next week. This boon, they said, would allow hotels and restaurants to recoup some of the business they have lost so far this summer season.

While visitors to Gozo will perhaps not be as liberal with their spending as they usually are, the added business will surely help the tourism sector in balancing their books.

That said, once the holidays are over and the wheels begin to turn again in September, there will still be much to be done. Signals from Europe are improving and Germany and France are already officially out of recession. Whether this is the bottom of the U-curve or the precursor to a dip in the W-shape remains to be seen. However, some argue that Malta and Gozo have not yet felt the true extent of the effects of the recession and will only do so once Q3 tourism arrivals and spending figures are released.

This may be so, but the government and the business sector will have to roll up their sleeves once August is over, one way or another.

If Malta’s slide continues (or indeed worsens), then the bull will definitely have to be taken by the horns in order to arrest the decline. If, on the other hand, we are in sync with the European trend, then there will also be much to do as Malta comes out of recession. Either way, it’s going to be a busy run up to Budget 2010.

The pre-budget document consultation meetings will continue and Finance Minister Tonio Fenech would do well to listen as attentively as possible, to take on board as many proposals and suggestions as he can.

While the government may not be able to act on and implement all of them, we are sure that the various sectors of society give good input and should help the government (as it has in the past) to address the various needs of the country.

Many people will be reading this editorial on the Gozo ferry, or perhaps on their way to the beach. What we are saying might sound like it is a million miles away from August’s lazy days, but the truth is that it is all around the corner. Truth be told, no one really knows what to expect. Happy holidays!