Editorial: People are not just economic contributors

Year after year, we hear how Malta’s GDP is on the rise. Politicians proudly cite it in speeches, treating it as a badge of honour – evidence that the country is being steered in the right direction, despite global challenges.

In recent weeks, we were told that Malta’s economy grew from €8.1 billion in 2013 to €20.5 billion in 2023. These are undeniably impressive figures. But they don’t tell the full story. 

Some of the most revealing – and troubling – insights come from other big numbers that rarely make headlines – or, if they do, they come from the opposition side.

According to the Well-being Index project, a collaboration between the Malta Foundation for the Well-being of Society and the University of Malta, well-being indicators (that emerge from NSO data) have shown a slight improvement over the past six years. However, deep inequalities persist. 

Economist Marie Briguglio has drawn attention to the fact that many people continue to experience emotional and psychological distress: 64,178 reported feeling nervous most of the time, while 120,854 felt that way occasionally. 

Chronic loneliness affected 13,110 people and frequent depression impacted 19,944. Despite improved economic conditions, material deprivation continued to affect at least 40,990 people.

These experiences are often overlooked when success is measured solely by GDP. But this may soon change.

The newly launched Vision 2050 sets a different tone. For the first time, the Maltese government is committing to a broader, more inclusive measure of national progress – one that looks beyond economic output to consider how people are actually living. 

The vision lays out a 25-year plan that focuses on well-being, disposable income and education as key indicators of Malta’s development. To track progress in well-being, Malta will adopt the United Nations’ Human Development Index, with the goal of improving its global ranking from 25th to the top 20 by 2035 and eventually reaching the top 10 by 2050. 

Chronic loneliness affected 13,110 people and frequent depression impacted 19,944. Despite improved economic conditions, material deprivation continued to affect at least 40,990 people

In terms of income, the current median wage stands at €18,940 – below the EU average. The aim is to increase it to 115% of the EU median by 2035 and 135% by 2050. Meanwhile, Malta, which currently ranks 13th in Europe for life satisfaction, is setting its sights on reaching the top 10 by 2035 and the top five by 2050.

These are ambitious targets and, yes, they are still big numbers. But, this time, the numbers carry a different message.

Meeting these goals will require addressing the real-life problems people face – mental health struggles, income inequality, social exclusion. It means acknowledging that economic growth doesn’t automatically lead to a better quality of life for everyone.

What’s significant is that the government is now saying: everyone matters. This marks a long-overdue shift in perspective. It recognises that a thriving economy doesn’t necessarily mean a thriving population and that GDP gains are not always felt equally across society: because wealth is not shared equally and because not everyone contributes equally to reaching those numbers.

For too long, those who were struggling were invisible in national statistics. Their realities didn’t seem to count. Now, hopefully they will.

Vision 2050 puts people at the centre of the country’s development agenda. It brings a new level of accountability to policymaking, one that sees individuals not just as economic contributors but as human beings with lives, needs and aspirations.

It’s no longer just about people as workers. It’s about people as people. Now, achieving that would truly be a badge of honour.