 |
|
| CURRENT SECTION :: News | UK's most visited IT Contractor Site - 250k unique visitors March 2008 |
|
 |
For a country with a population of just 400,000, Malta has a remarkably large number of strings to its bow. It was the home of the Knights Templar. It's hot, and it's a nice place for a holiday. And Gladiator was filmed there. Technology, however, does not spring to mind when most people think of the tiny clutch of islands nestling below Sicily in the Mediterranean. That could all be set to change, however. New figures from Eurostat, the European Commission's statistics agency, show that technology accounts for a greater proportion of Malta's export revenue than any other sector. In 2004, 55.9% of Malta's exports were high-tech goods and services. That compared to a figure of 27% for the US, 22.8% for gadget-obsessed Japan, and just 22.7% for the UK. But does that mean Malta is the world's latest IT hotspot? Yes and no. It's important to remember that the figures are skewed by a few large companies. A subsidiary of French giant ST Microelectronics, for example, claims to be the biggest exporter from Malta, Automotive electronics manufacturer Methode Electronics exports around £30m worth of sales from the country. And while neighbouring Italy has 34,651 "high-tech" companies, by the EC's definition, Malta has just 290. Eurostat doesn't simply count computer and telecoms technology as high-tech: by its definition, products such as medical devices, aircraft and pharmaceuticals all come under the umbrella of technology products alongside computers and electronics. Its definition of high-tech services, however, relates almost exclusively to IT and comms. The country certainly has a lot to attract contractors from the UK. The weather, for a start, is a refreshing change for anyone braving the last gasps of the British winter, with warm, dry summers and temperate winters. A member of the European Union, its government is stable and its economy strong. While its GDP per capita is comparatively low by EU standards, at $13,800 (approximately £8,000), its cost of living is also low, and low GDP doesn't necessarily mean low contracting rates, as anyone who has contracted in Yemen will testify. The tax situation is also attractive - foreign permanent residents are taxed at just 15%. English is universally spoken; with almost equal status to the indigenous Maltese tongue. And property is cheap - a scan by CUK of Maltese property rental websites suggested a studio apartment in a pleasant area can be rented for little over £100 a month, or bought for less than £20,000. Unfortunately, that doesn't necessarily mean a lucrative market for contracting. CUK's survey of recruiters did not suggest a flourishing market for contractors in Malta. Hudson IT told us they had no clients in Malta, while David Houston of tax specialists Global K told CUK he had "never even had one single enquiry from any contractor wishing to go to Malta". This suggests one of two things: a vast untapped market, or, er, a market as dry as Maltese sandstone. The idea of working in Malta appeals to veteran contractor Aaron Jumani, who has in the past contracted in various parts of mainland Europe, including France and Spain. For him, there are only two considerations. "Firstly, salary. Second, the tax status and benefits," he says. "It sounds greedy, but that's what contracting's all about." Malta's contracting potential may still be in its infancy, but it is one to watch. If its high-tech growth continues, by this time next year it could be the hottest contracting destination in Europe - in more ways than one. Graham Taylor Feb 10, 2006 Email this article Printer friendly page Previous Page
|
|
  |
||||||||||||||||||||||||
| All content © Contractor UK Limited | http://www.contractoruk.com/lists/?p=subscribe&id=1[Register for News Letter] | [Privacy Statement] | [Terms of Use] | [Top of Page] |