The results of the BOV-MHRA-Deloitte survey for the sector were presented recently at the MHRA Forum.

Also presented at the event were the Restaurants Performance Survey for summer 2017.

Mr Raphael Aloysio, Deloitte’s Leader – Financial Advisory, presenting the results for Hotels for the third quarter of the year, said that, “based on current trends, 2017 is set to achieve new record numbers of tourism arrivals.”

He added that “it is estimated that during the first nine months of this year tourist expenditure had already reached €1.5 billion.”

“These positive trends are translating into significantly improved operational performance for hoteliers and all other sectors which are dependent on the performance of the tourism sector,” stated Raphael Aloysio.

Participants at the Forum were addressed by Prof Peter Sharratt, Head of Strategic Advisory Services for WSP UK, who spoke about the need for more investment in infrastructure in order to ensure the competitiveness and sustainability of the sector of Tourism in Malta.

There followed a review of the tourism sector and the impact that Malta’s EU Presidency was envisaged to have had on this vital sector of the Maltese economy.

Other key note speakers featured Dr Konrad Mizzi, Minister for Tourism and Mr Robert Arrigo, Opposition Spokesman for Tourism as well as Mr Tony Zahra, MHRA President and Malta Tourism Foundation President of the Board of Governors.

MHRA CEO Andrew Agius Muscat facilitated a panel discussion focusing on the survey results and how the sector can be strengthened further.

Participants included Mr Alfred Attard, Chief Officer Corporate Finance at Bank of Valletta, Ms Angela Attard Fenech, Director Tumas Group, Dr Tijani Haddad Deputy President of the Mediterranean Tourism Foundation, Professor Peter Sharratt, Head of strategic Advisory Services for WSP UK, Mr Attila Benedek, EU Transport & Tourism Policy Committee Adviser for Vice-Chair Istvan Ujhelyi MEP and Dr Gavin Gulia, Chairman of Malta Tourism Authority.

In his intervention, Mr Alfred Attard said, “the excellent results being achieved by the tourism industry have created a sense of optimism which has encouraged the industry to invest more.”

Referring directly to Bank of Valletta’s position, Mr Attard explained, “at Bank of Valletta, we have been very supportive and provided financing to hotels to extend and upgrade their offering.” He concluded by saying that the industry must use this time to invest wisely with a view to making the sector more competitive and sustainable over the long-term.”

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