How SIGMA Malta Tremendously Boosted The Maltese Economy This Year
SIGMA is a world leader in promoting digital industries and the Maltese brand has gone from strength to strength over the years – while its first conference in 2014 had 1,000 attendants, its 2022 event attracted a whopping 25,000.
This means that the November summit generated significant economic activity on the island in what is traditionally viewed as a slow month.
Indeed, an impact assessment report carried out by E-Cubed Consultants disclosed that the group’s economic activity sustained the equivalent of 950 jobs for a whole year.
Organisations associated with the Malta Week Event – ie. gaming, esports, emerging technologies, ICT, corporate services, medical technology and digital/affiliate marketing – currently compose around 38,000 jobs in Malta, that is 33% of the employment sector.
While November doesn’t usually see many tourists travel to Malta, SiGMA’s 25,000 delegates boosted the figure significantly; in fact the report revealed that international visitors occupied 60% of the bed space within Malta’s four and five star hotels during the event.
Hotels would have otherwise seem a 40% occupancy.
While the full economic effect of SIGMA Malta 2022 hasn’t been published yet, the 2019 version generated some €6 million in value added from the event itself and tourist expenditure.
That is equivalent to 0.05% of Malta’s total economic value added to the nation’s coffers, which is huge for a single event.
What’s next?
SIGMA’s 2022 event has only just ended, but the 2023 calendar is already being planned. The SIGMA Group has announced that it will hold six world class, bi-monthly summits next year – with events taking place across five continents in Nairobi, Dubai, Sao Paulo, Manila, Limassol, and Malta.
Next January will see their first event in Africa, with Nairobi 2023.
What do you make of this Maltese success story?
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