Information Technology industry in Malta
Digital economy continues to bridge the gap between technology sector and policymaking, and Malta is at the forefront.
In recent years, the industry has seen both tech and non-tech, global and local companies hungry to hire local Malta-based software specialists and this trend will continue, alongside buying outsourced software solutions.
The Information Technology (IT) Industry in Malta has been on the rise for almost 3 decades, having peaked with the increasing number of Gaming companies setting up a base in Malta and opening a number of iGaming vacancies in Malta over the past few years. In order to support the booming Gaming industry, IT Departments in various sectors, as well as specialised IT Services companies heavily recruit individuals with specific skills in IT.
Malta’s ICT companies realised early that by specialising in a certain niche will ultimately give them a head start on the global tech stage. This move has ultimately led many, by offering specific solutions and tailor-made products, to become market leaders in their respective niches.
Today, data and high-tech applications influence not only our everyday life but almost all economic sectors. While companies involved in fintech and blockchain are the more prominent examples of this trend, other sectors are also shifting to new software-based tools to study data and improve operational performance such as transportation, healthcare, manufacturing and even HR processes.
This climate in Malta has unravelled a new scope how to exploit the technology ecosystem and is therefore reaching out constantly to new global tech innovators to disrupt new markets.
Boosting the IT Industry
Malta’s IT sector sprawl in the early 1990s with the help of government spending when the island connected the missing dots and concluded that ICT is the nexus for an innovative, diversified and transparent economy. Since then, the Maltese government have not only been heavily investing in IT products and services but also drafted an eGovernment strategy to support ICT activities.
Nowadays, Malta stands proud within Europe because it offers almost 100% of its government services online. The backbone for this push is simply because most of the governmental tasks were assigned to local companies which in return accelerated the development of the ICT industry. Malta’s main assets are non-stop ICT investments in infrastructure and training the youth from an early age. English-speaking and skilled workforce as well as the country’s proximity to Central and Western Europe are another stream of value that enables the continuous growth in IT sector in Malta.
iGaming and Fintech – industry leaders
The first companies to take the leap of faith were iGaming and eCommerce corporations. Some of the strengths Malta offers to entrepreneurs and angel investors are: strategic location between North Africa and Europe, fiscal benefits and tax residency programs. The sector has grown massively to a point where it now contributes to some 15% to GDP and employing more than 10,000 people. Vibrant and dynamic software environment have attracted big names such as HP, Microsoft and Cisco to set up a corporate shop on the Maltese islands.
Fintech companies based in Malta are mostly involved in tackling regulatory and compliance issues, as well as safeguarding API-driven solutions in areas such as payments and KYC. Often referred to as a ‘Mediterranean Silicon Valley’, Malta is building up a reputation as the place to be for emerging tech firms, coders and programmers. There are more than 90 iGaming companies already set up in Malta and over 50 pending applications creating a strong demand for gaming. The new SmartCity Malta, is the hub similar to Dubai Internet City, has already created a numerous of IT jobs with a Maltese vision of being a centre for Europe and North Africa. Malta’s strong communications industry has also played a key role in the development of the industry. Fibre-optic cables linking to Europe allow for a flawless international connectivity and provide security to economic sectors, such as iGaming and eCommerce, that rely heavily on 24-hour connections. The island’s telecoms operators offer high internet speeds and are developing Next Gen networks.
Malta has become one of Europe’s favoured destinations for foreign direct investment within the ICT industry and while many started off as service companies, over the past decade they have specialised, diversified and in many cases won contracts abroad. For instance, Shireburn Software has developed solutions that enable airports and shopping malls to better manage and increase their concession-based revenues.
Names and facts
The Malta’s tech sector doesn’t sleep and by that we mean literally. Mergers and acquisitions are on a relatively high curve having to have 6PM (UK company) acquire Compunet and Deloitte to acquire the Alert Group.
Young people with high-tech skills are more than welcome to Malta as there is a high demand for research and development in the IT sector. Furthermore, the Highly Qualified Persons Rules Programme is a tax beneficial residency program aiming to offer fiscal advantages if persons decide to relocate to Malta.
The island has also partnered with Microsoft to create the Microsoft Innovation Centre which places Malta at the forefront of emerging technologies, such as building decentralised applications.
“Testing Ground: did you know that the Chinese telecoms giant Huawei announced publicly it will open a joint innovation centre with the University of Malta, as well as to test mobile technology on the island? “
Information Technology careers in Malta
Malta’s Information Technology industry is heaven for entrepreneurs! Investments in early-stage companies have proven to be the groundwork for a sustainable and transparent technological ecosystem alongside having the support of big names like Cisco. With Malta’s government as a partner and commitment to eGovernment strategy to prosper, Malta has opened its doors to the tech world making a statement to be a leader and not a follower.
VacancyCentre (operated by CSB Group) is a boutique recruitment agency assisting potential candidates find jobs across a wide range of industry sectors, namely Financial Services, Legal & Compliance, Gaming & IT, Administration, and Sales & Marketing.
With grounded experience of 30 years in the recruitment sector, VacancyCentre listens carefully to applicants and assists in finding their dream job in Malta.
For more information, do not hesitate to contact us at [email protected].