Issue link: https://maltatoday.uberflip.com/i/831240
maltatoday, THURSDAY, 1 JUNE 2017 I achievements by the Ministry for Tourism Edward Zammit Lewis Four years of Tourism is the main driver of the local economy and, in recent years this industry has continued to grow also thanks to the creation of new economic sectors that rely on tourism. During this legislature, tourism has experience unprecedented and record growth. Amongst the achievements, we must mention: Two million tourist arrivals and an increase of 37% or half a million tourists compared to 4 years ago only. In just four years, we have also managed to overcome the challenge of seasonality, that is, the gap in arrivals between the peak summer months and the traditionally slower months of winter. This problem, that was afflicting the industry, is now something of the past. In 2016 total tourist expenditure amounted to €1.7 billion. This resulted in an additional €382.5 million more than 2012, a direct injection into the local economy meaning an increase of nearly 30%. During 2016, Malta witnessed an average growth in tourist arrivals of 10.5%, well above the the average for Europe and the Mediterranean region that was only of 1.4%. The reduction in utility bills for the accommodation sector led to increased investment in the tourism sector by the private sector. According to the latest survey commissioned by the MHRA on the performance of hotels in our country, for the first nine months of 2016, 5-star hotels increased their Gross Operating Profit by 3%, while 4-stars hotels increased their Gross Operating Profit by 11%. The MHRA commissioned a survey which indicated that 4 and 5 star hotels altogether paid €3.4 million less in water and electricity bills between January and September 2016, compared with the same months of 2012. Such savings were also diverted to further capital and other investments in the respective products and services, this also ensuring a comprehensive quality improvement. THE REDUCTION IN UTILITY BILLS FOR THE ACCOMMODATION SECTOR LED TO INCREASED INVESTMENT IN THE TOURISM SECTOR BY THE PRIVATE SECTOR. TWO MILLION TOURIST ARRIVALS AND AN INCREASE OF 37% OR HALF A MILLION TOURISTS COMPARED TO 4 YEARS AGO ONLY. THIS IS A PAID ADVERT