Maltese-owned foreign affiliates generated more than €639 million in 2015, up by 12.4 per cent over the previous year, according to the National Statistics Office (NSO).
These enterprises employed 8,242 persons abroad, representing an increase of 23.3 per cent over 2014.
Maltese-owned foreign affiliates are described as enterprises owned by Maltese people that have at least a 50 per cent shareholding in subsidiaries abroad.
Accommodation and food service activities were once again the dominant sector for 2015, recording an increase of 2.9 per cent over the previous year. This sector employed 4891 employees (5.8 per cent increase over the previous year), accounting for 59.3 per cent of total employment in foreign affiliates.
On the other hand, the education sector registered an increase of 30.2 per cent over 2014 and generated a turnover of €92.5 million.
Turnover of Maltese-owned foreign affiliates was mainly generated in European countries, with €526.7 million, or 82.3 per cent of the total. In 2015, turnover generated in the European Union grew by 16.7 per cent when compared to 2014.
Additionally, employment of Maltese-owned foreign affiliates was predominant in Europe with 5,593 employees, or 67.9 per cent of the total. When comparing 2015 and 2014, such employment in Europe increased by 14.3 per cent. Moreover, employment in America increased to 1,472 persons, 34.4 per cent over the previous year.