Events industry drives broad economic value for Malta, says Chamber of SMEs

Malta’s events industry continues to play a central role in the national economy, with its expansion creating extensive economic value across multiple sectors. Speaking exclusively with SiGMA World about the current landscape, Philip Fenech, Deputy President of the Malta Chamber of SMEs, emphasised that the segment is significant and it’s creating a lot of value added to the country’s economy.

According to Fenech, the industry’s growth has spurred demand not only in event operations but also in education and workforce development. He noted that the Chamber and national stakeholders are preparing the people to handle it even better from an educational point of view, so that human resources will not be as challenging to find as they have been.

He highlighted that events founded locally, such as SiGMA World, have helped attract global attention. These events, he said, must be assessed from various angles, including the “direct demand on our economy.”

A Multiplier Effect Across Sectors

Fenech detailed how the events industry has widened opportunities for both professional services and small businesses. Lawyers, accountants, IT specialists, technicians, suppliers, and freelancers form part of what he described as a broad network that “literally eats from this business in particular.”

Foreign professionals attending and working in Malta’s events ecosystem also contribute to ongoing economic activity. “We look at them as sort of permanent tourists or tourists coming and going,” he stated, noting their use of “our restaurants, our bars, our clubs, our boutiques, [and] also real estate renters.”

He pointed to the sector’s large multiplier effect, explaining that it connects directly to hospitality, retail, transport, and ancillary services. Reflecting on past events, he noted that some gatherings “were a bit too big for the size of our island,” which led to the decision to divide activities across venues. He confirmed that plans are underway for “a good expo venue that at the moment is being negotiated and is being expanded.”

Tourism and Hospitality Gains

Hotels and hospitality providers, Fenech said, experience direct uplift from international conferences. “These conferences pay better rates,” he explained, adding that delegates “ask for the best services” and are not comparable to “an average tourist that comes here.”

He highlighted the high-profile nature of these events: “We know a lot about all the champagne that’s being popped and all the good food that is being ordered.” The spending patterns of business travellers, he said, trigger wider demand for car hire, event-specific functions, catering, entertainment, and bespoke services.

Opportunities for Small and Medium Enterprises

Fenech described SiGMA’s impact on SMEs as a catalyst for immediate economic movement. “I feel the economy is moving in real time,” he said, noting that the industry activates providers of stages, lighting, design, venue rentals, transport services, catering, and logistics.

He stressed that SMEs benefit directly from the cash flow uplift: “This business also brings instant cash, and small businesses always have cash flow problems, so when you get something like this, it gives them a tremendous, good cash injection.”

He added that attendees often explore local historical sites and independent businesses, especially in Valletta, deepening the economic contribution beyond the event footprint.

Vision 2050 and Sustainable Growth

Fenech reiterated that Malta’s economic maturity allows it to prioritise high-value sectors. “Our economy has grown so much that now we can be picky and choosy,” he said, identifying the events industry as aligned with Malta’s strategic vision due to its strong value creation and minimal environmental impact compared with other sectors.

The Deputy President of Malta Chamber of SMEs also noted that the government’s Vision 2050 framework aims to refine economic segments to ensure long-term sustainability. The events sector, he said, is “one of those segments that will give a high value-added chain, and the collateral damage is less than in other segments in our economy.” He stated that improved planning, refined logistics, and expanded venues would allow Malta to host large events more frequently.