" a nation that could be managed like a corporation "
The three main factors underpinning Malta's competitiveness are as follows:
1. Our ability to attract foreign investment.
2. Our ability to bring to Malta better quality tourists (high spenders) in larger numbers.
3. The ability of our workforce to support industries in becoming regional hubs of excellence and in exporting products and services with a high value added component.
As a country, we are competing against other nations in the EU and in other parts of the world. We are competing in the export of products, and in the attraction of high value adding investments and higher spending tourists. Indeed, competition has now become so much tougher that we need to be far more strategic about the choices we make and we need to focus increasingly on the areas in which Malta has a competitive advantage. Malta must therefore act more like Malta Inc. by developing a brand identity that is based on superior product and service delivery, rather than relying on low wage industries. The whole point of competitiveness is not to suppress income but to create increased prosperity through improved marketing and product/service delivery.