Malta Key Facts
Malta’s economic background
The Maltese archipelago is situated in the heart of the Mediterranean and is directly accessible by plane and sea from most key European commercial centres, as well as North Africa. The country enjoys longstanding political stability, a high quality of life, and a relatively low cost of living. In recent years, Malta has demonstrated both economic resilience as well as an ability to thrive, even in difficult global contexts. In fact, the country has developed a clear strategy for sustainable economic development, identifying key sectors with high growth potential as well as plans to support its success.
Malta's Evolving Healthcare Landscape: A Closer Look
Referred to by some as “The Hospital of the Mediterranean”, the country’s reputation serves as an insight into the high level of care provided across the country. Malta’s public healthcare is one of the best in Europe and is provided to residents free of charge.
The public sector is the main service provider of healthcare in Malta, supplying near universal coverage to all residents covered by social security legislation or humanitarian exemption. It is complemented by a private sector which mostly delivers primary healthcare services. Over the past decade Malta has registered one of the largest per capita increases in health expenditure in the EU, despite being the smallest Member State. This increase has been relatively consistent year on year.
In Malta, the old-age dependency ratio increased considerably, from 19.9 % in 2008 to 27.6 % in 2021. Simultaneously, the share of the population aged 65 and over in the total population increased from 13.9% to 18.8%. The pressure on long-term care provision, as measured by the share of potential dependents in the total population, is therefore set to increase from 3.2% in 2019 to 3.8% in 2030 and 4.6% in 2050 of total GDP. In view of these trends, demand for long-term care is set to continue growing, adding further demand pressures to a sector already facing supply issues.
In 2021, general government expenditure on the health sector was equivalent to 14.8% of total expenditure. This makes it the third highest component behind social protection and economic affairs. General government expenditure on health as a % of GDP amounted to 6.5% in 2021. Malta’s vision for the future is to continue to have a fast, high end and efficient healthcare sector, including better amenities and quality of services.
The Group’s Market Share within Malta’s Healthcare Sector
The Kore Group provides catering services to all the public hospitals in Malta and Gozo, which amounts to over 4,000 meals daily, meaning the Group has a 100% market share in this specific service area.
The Kore Group holds more than 99% of the current domiciliary care market in Malta.
The Group plays a significant role in the Maltese health and social care sector through outsourcing health professionals to work in hospitals and elderly care homes while also providing private domiciliary care. By looking at the number of nurses and health care assistants practising in Malta, the Kore Group employs around 41% of the total share.
The Kore Group played a key role in dealing with the COVID-19 pandemic in Malta by outsourcing services of nurses, managers and clerks to work at swabbing and vaccination centres. The Group was also responsible for the administration of COVID-19 vaccines at key locations and for the operation of a vaccination hub at a prominent site.