23 April, 2021

Malta Business Confidence expected to follow USA and UK positive increase in coming months


“The closure of establishments at short notice and the increase in restrictions in mid-March shocked the system and dealt a blow to short-term business confidence,” said Ms Marisa Xuereb, President of The Malta Chamber of Commerce, Enterprise and Industry during a webinar held in collaboration with Vistage Malta.

“What is clear is that business confidence is fragile and knee-jerk actions taken with minimal consultation have significant negative impact. Yet medium to long-term business confidence is more promising. Positivity comes from businesses’ ability to exploit the opportunities of the new norm, including hybrid work setups and of course the vaccination rollout. It is therefore imperative that those sectors of the economy that have limited scope for remote working by the very nature of their operations, such as manufacturing, are prioritised in terms of vaccine rollout, to provide some much-needed uplift in morale and safeguard productivity,” explained Xuereb.

“The results of the Q2 index show that our businesses are less buoyant about economic growth than they were in Q1 of this year, possibly attributed to the delays in kickstarting economic activities across many sectors, combined with an element of ‘fatigue’. Overall however, businesses wish for even more clarity on timelines for travel, international trade, incentives for investment and continued support for talent retention, the latter being a main concern for most businesses,” said Mr Nathan Farrugia, Managing Director of Vistage Malta.

Addressing attendees during the webinar, Mr Joe Galvin, Chief Research Officer at Vistage Worldwide Inc. noted that “The surge in optimism in the US and UK is driven by the belief that an end is in sight for the pandemic. Vaccines are driving that confidence as those verticals that thrived in the pandemic continue to be strong while those that suffered most like travel, leisure and hospitality are just beginning their recovery. Malta, like many other parts of the world, trails the US/UK in vaccine rates. As Europe and others close that gap, a resurgence fueled by pent-up demand for travel will be the catalyst for the next growth wave.”

The ’An expert eye towards the future’ webinar was the second in a series of webinars organised by The Malta Chamber and Vistage Malta, in an effort to present the quarterly Confidence Index Survey Results.

Download the Malta Confidence Index Report for Q1 & Q2 here.

All News

View All

21 February, 2024

TradeMalta assists local companies to showcase their culinary delights...

...

Learn More
09 February, 2024

Geo-political tensions persist, but low public debt and high bank liqu...

...

Learn More
07 February, 2024

Malta Business Bureau Reaffirms its Role as Malta’s Business Gateway...

...

Learn More
17 January, 2024

The Malta Chamber and BNF Bank p.l.c Renew Bronze Collaboration Agreem...

...

Learn More

All News

View All

Chamber News

21 February, 2024

TradeMalta assists local companies to showcase their culinary delights...

...

Learn More

Chamber News

09 February, 2024

Malta Business Bureau Reacts to 2040 EU Climate Target Recommendation...

...

Learn More

Chamber News

09 February, 2024

Geo-political tensions persist, but low public debt and high bank liqu...

...

Learn More

Chamber News

07 February, 2024

Malta Business Bureau Reaffirms its Role as Malta’s Business Gateway...

...

Learn More

upcoming events

View All

Upcoming Events

27 February, 2024

Workshop: Employees wellbeing and engagement

...

Learn More

Upcoming Events

04 March, 2024

Online Info Session: Carbon Border Adjustment Mechanism

...

Learn More

Upcoming Events

06 March, 2024

What's Trending - Social Media in Malta

...

Learn More

Upcoming Events

12 March, 2024

Info Session on Sustainability Support

...

Learn More

upcoming events

View All

27 Feb
upcoming event 27 February, 2024, 08:30 AM

Workshop: Employees wellbeing and engagement

Learn More
04 Mar
upcoming event 04 March, 2024, 10:30 AM

Online Info Session: Carbon Border Adjustment Mechanism

Learn More
06 Mar
upcoming event 06 March, 2024, 08:30 AM

What's Trending - Social Media in Malta

Learn More
12 Mar
upcoming event 12 March, 2024, 08:30 AM

Info Session on Sustainability Support

Learn More
20 Mar
upcoming event 20 March, 2024, 05:30 PM

Annual General Meeting 2024

Learn More