Gozo Among Malta’s Wealthiest Regions, Study Finds

Gozo Among Malta's Wealthiest Regions, Study Finds
Feb 28 2025 Share

A recent study conducted by the Central Bank of Malta, in collaboration with the Gozo Regional Development Authority, highlights Gozo’s strong financial standing.

The island ranks among Malta’s top three wealthiest regions, with a median net wealth of €334,000, just behind the Western and Northern regions.

A major factor contributing to Gozo’s wealth is its high homeownership rate, with 89.1% of households owning their homes in 2020.

However, property value growth has been more modest in Gozo compared to other regions. The median value of a primary residence increased by just 11.1% between 2017 and 2020, well below the national average of 50%.

Income levels have also risen. In 2020, Gozitan households reported a median gross income of €31,843, above the national median of €29,700. This reflects an 18.2% increase from 2017.

Salaried employment accounts for 68.2% of household income, with self-employment contributing 13.7%.

In terms of debt, the median household debt in Gozo decreased to €31,000 in 2020—a significant 61.4% reduction from 2017. Household consumption rose by 26.6%, reaching €11,400.

These positive trends indicate that Gozo’s financial resilience continues to grow, with rising incomes and decreasing debt levels. Find the full study here.

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Record Set for Fewest Primary Students Creating Longest Loom Band Chain

Feb 28 2025 Share

The Malta Records announced yesterday that a new national record was set by Dun Karm Psaila Primary School in Ħaż-Żebbuġ, where a group of nine students took on the fun challenge of creating the longest loom band chain in the shortest time.

The record was for the least number of primary students to create the longest chain made of loom bands in the shortest time. The loom band of 156.30 metres in length was crafted in the short time of 2 hours, 35 minutes and 38 seconds.

The Year Six students who participated are Kayden Briffa, Zack Bonnici Pepe, Diaz Briffa, Zack Farrugia, Alessandro De Caro, Danas Valantinavicius, Ella Attard, Pearl Schembri and Rea Cilia Mannino.

The work will serve as decoration for the primary school of Ħaż-Żebbuġ during the Carnival season.

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Major Infrastructure Investment to Protect the Grand Harbour

Major Infrastructure Investment to Protect the Grand Harbour
Feb 28 2025 Share

In a press release the Minister for Transport, Infrastructure, and Public Works, Chris Bonett, has announced a new maritime infrastructure project aimed at improving the safety and operational efficiency of the Grand Harbour. With an investment of approximately 55 million euros, this project is designed to reduce the impact of waves currently affecting critical areas such as Xatt il-Barriera and key maritime access points to Birgu, Kalkara, and Rinella.

Minister Chris Bonett stated that this project is a clear example of the government’s commitment to continuing the improvement of the maritime sector, a key pillar of the country’s economy. “In addition to the economic aspect and the protection that this port offers to maritime activities, it is our duty to protect the cultural and natural heritage that the Grand Harbour is known for worldwide. This project will strengthen Malta’s position as a natural maritime destination at the heart of the Mediterranean, with infrastructure that meets the aspirations of all,” said the minister.

Steve Ellul, the CEO of Infrastructure Malta, has outlined the key components of a new project aimed at reducing the wave impact currently affecting the Grand Harbour.

Waves from the Northwest, Northeast, and East have been causing significant disruption to maritime operations, and the project seeks to mitigate these impacts, which can often be devastating.

The initiative is part of Malta’s National Transport Plan 2025 and consists of three main structures designed to protect the harbour.

The first element of the project is a 600-metre underwater breakwater, which will extend from Imgerbeb Point to the tip of Sant’Iermu. This breakwater is specifically designed to calm the intensity of waves originating from the Northeast and East, which have been a particular concern for maritime activity.

In addition, two small concrete revetments will be constructed at Imgerbeb Point. These structures will serve to reinforce the main underwater breakwater, offering additional protection against the wave forces impacting the area.

Lastly, a 100-metre extension of the existing breakwater will be built to the west. This extension is specifically aimed at mitigating the force of waves coming from the Northwest, which are the most persistent throughout the year. This addition is vital to maintaining operational stability within the Grand Harbour.

The project marks a crucial advancement in safeguarding Malta’s maritime operations, providing long-term protection against the environmental challenges posed by shifting wave patterns. This initiative is key to maintaining the safety and efficiency of the harbour for years to come.

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Meridianbet Promotions: Elevate Your Betting Experience

Meridianbet Promotions: Elevate Your Betting Experience
Feb 28 2025 Share

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