During the launch, Prime Minister Robert Abela described the 2050 vision as a declaration of Malta's commitment to being a safe and resilient nation, inspired by its historical heritage and driven by progress.
Starting to compare the Malta Roadmap for 2025 to 2050, we need to consider several key aspects, including goals, strategies, timelines, and the context of each roadmap. The roadmap outlines a vision for sustainable development, economic growth and social cohesion over the next 25 years.
For those joining us on this magic carpet, they are pleased to observe how Malta's economy grew by an average of 10% a year since 2013 but will grow at a steadier pace of 5% per year between now and 2050, the Prime Minister said, aiming for GDP to hit a target of €38 billion, up from today's €20.5 billion.
A vastly ambitious plan is offered to riders on the tour visualising eco-friendly and sustainable tourism practices to attract visitors while preserving the island's cultural and natural heritage. Tourist numbers will also grow, rising from 3.6 million last year to 4.5 million in 2035. Furthermore, the transformation towards becoming a Monaco in the Mediterranean, sees richer tourists spending more money (less bucket and spade), with expenditure per night set to double to €285.
This may be achieved by the MTA starting to develop niche tourism markets, such as wellness tourism, cultural tourism and adventure tourism (not an easy task, especially since today's image showcases a budget-friendly and fun destination).
Moving on, the magical trajectory takes readers on a journey where ambitious targets for reducing carbon emissions, transitioning to renewable energy, and enhancing resilience to climate change take prominence.
Millions of grants are secured to encourage mega film and media productions through incentives and support for local and international projects. Likewise, the university will promote research and development in biotechnology and pharmaceuticals, positioning the island as a hub of excellence.
The futuristic ride places a stronger emphasis on improved management to address pressing issues such as unemployment, public health or educational reforms, transportation, energy and urban planning. As can be expected, our elected leaders will place a greater focus on engaging a wide range of stakeholders to make the roadmap doable, involving businesses, civil society and international partners. We are thrilled to visualise an improvement in regulatory frameworks or policies that are essential for immediate implementation community involvement and a wider local governance in decision-making processes.
For this to happen, we need a savvy government operating within Castille's power corridors. The authors of Vision 2025 have placed a greater emphasis on building resilience against future challenges, including economic shocks and environmental changes. One cannot criticise this magical mystery tour, as its authors take us to feel the massive growth of the tech sector, including software development, cybersecurity, and IT services by promoting innovation through investment in R&D, particularly in emerging technologies such as artificial intelligence, blockchain and data analytics. Naturally a revamped MDIA will face a tough challenge to make this a reality.
A national dream of exploiting green energy and producing hydrogen for export looks more feasible by attracting international banks to invest in renewable energy sources such as solar, wind, and potentially marine energy to reduce dependence on fossil fuels and enhance energy security. Never had our agricultural and animal husbandry been given so much attention.
The plan promotes sustainable agricultural practices and local food production to enhance food security and reduce reliance on imports. This is not science fantasy by the next minister for agriculture but a scientific use of technology to improve efficiency and sustainability. Next, the plan showers us with a grand vision of making the island a superior financial services hub, a process which had its roots in 1994.
This will be achieved by Malta Enterprise attracting foreign players for fintech companies and services, including cryptocurrency and blockchain technologies - certainly a tall order. Naturally, our own educational facilities will get a root and branch overhaul. A top priority is to upgrade thousands of TCNs arriving from applications submitted by temping agencies.
The population reaches the 700,000 mark but only 120,000 are natives due to a low birth rate. To balance the drop of natives, one expects a higher cohort of international students by promoting Malta as a centre for higher education and research. Offering training programmes is essential to equip the workforce with skills related to sustainability and green technologies. Our research and development fund will be increased sixfold to reach 3% of GDP. A reinvigorated MFSA shall enhance regulatory frameworks to attract international superior financial institutions and investment. Discover a higher resilience to global economic changes, thus creating quality jobs, and ensuring sustainable growth. The specific initiatives and policies to support these sectors are detailed in the roadmap itself, outlining the steps needed to achieve essential diversification goals. Malta, in 2050, becomes an international centre for life sciences by expanding healthcare services, including telemedicine and health technology, to improve healthcare delivery.
A smart way to conserve underground water sees the de-registration of bottlers and cement producers, making them obliged to install reverse osmosis equipment instead of depleting the water table. Further polishing of water piped to householders will conserve water usage improving living standards.
Public transportation plays a crucial role in Malta's sustainability strategy, as it is integral to reducing carbon emissions, improving air quality, and enhancing overall urban mobility. The 2050 roadmap has specific plans how improving public transportation contributes to Malta's sustainability goals, particularly the hyped metro system launched with much fanfare in 2021.
The integration of electric and hybrid trucks aligns with sustainability goals by reducing reliance on fossil fuels and lowering emissions. Again, one can appreciate the authors of the 2050 roadmap trying to quell the chaotic transportation situation by using advanced AI powered taxis and trams.
In summary, the Malta Roadmap to 2050 represents a long-term vision that builds on the foundation laid by the previous report looking to 2030. While the earlier report focuses on immediate challenges and actionable steps, the longer roadmap emphasises sustainability, resilience, and comprehensive strategies for future growth.
Both documents are essential for guiding Malta's development, but they serve different purposes and timeframes in the broader context of national planning and policymaking.
Can we properly evaluate the feasibility of the 2050 pipe dream by electing stellar governors to secure this fantastic objective? Only time will tell, if future political leaders have the foresight and prowess to make this tiny rock in the Med. the envy of other EU members.
George M. Mangion is a senior partner at PKF Malta
gmm@pkfmalta.com