As a select few countries around the world hit 99% internet penetration, it’s clear that we’re heading into a digital future. Per Malta’s recent statistics, we are officially over 90 per cent and are fast becoming a hotspot for online entertainment due to a favorable tax environment.
The stats (and why they matter)
Though many take it for granted, not every country has easy access to the internet. While many of these are impoverished countries with little infrastructure, even emerging giants like China and India have large segments of their population that cannot afford to go online, or face other restrictions. In today’s world, having restricted internet access puts you at a massive disadvantage compared to those that do.
In 2010, Malta's internet penetration rate stood at around 70 per cent, ahead of many countries, including Italy (48 per cent), at the time. Since then, Malta has broken into the 90 per cent club by delivering accessible, competent internet connections to nine out of 10 people. Malta's smaller population of 500,000 made it easier to adopt new web-friendly infrastructure in a timely fashion. As a result, Malta has become a hub for ecommerce and other online entertainment businesses, as seen at Statista.com.
Source: https://unsplash.com/photos/ejhjSZKTeegOverall, Malta showed a 1.4 per cent increase in internet penetration year-over-year which predicts the island will join the 99 per cent club this decade. In the same year-spanning time period, fixed internet connection speeds were improved by 35 per cent. Social media is also important, with approximately 450,000 users based out of Malta. That’s larger than the total online population of Malta by almost 50,000, but that’s because people can have multiple social media accounts, so not every user is a unique person. The same principle applies to mobile phones, with over 700,000 phone connections active in 2022.
Why Malta is a favourite for online companies
Given the above stats, it’s clear that Malta has great infrastructure when it comes to the internet, along with a population that knows how to use it. We also have a heavily multilingual population, opening many opportunities for employees to target global audiences. This has led many online companies, which could operate in any country on the planet, to choose Malta as their home.
Besides the perks of Mediterranean life, many of these companies are drawn to Malta's competitive tax system that guarantees sustainable business growth that isn’t achievable in many European countries. This is particularly seen with online casinos and other heavily regulated industries that would rather base themselves out of Malta instead. Malta isn’t lenient when it comes to laws for these businesses, quite the opposite, but they are happy to comply given that it helps them in the long run. While Malta's tax system is an attractive prospect for many businesses, it also guarantees that businesses registered here are legitimate.
As detailed below, there can be problems with ascertaining the legitimacy of a website when exposed to the internet.
Issues posed by the internet
While a great resource, the internet still poses unique challenges to those in Malta. As Maltese citizens consume content from all over the world, and broadcast their own, there are very important security and privacy concerns. Here at TimesOfMalta.com, we have covered age verification systems in the past and how they must strike a delicate balance between protecting underaged citizens and allowing of-age users privacy.
Even adult users can fall victim to fraudulent schemes that government or regulatory bodies in Malta have limited control over. This is where widespread internet literacy comes in, which helps citizens know how to stay safe. Older citizens struggle the most with internet literacy since they are unfamiliar with this technology. More than 20% of Malta’s population is over 65, making this an issue we will face.
As mentioned, Malta is a hub for online entertainment. Using iGaming as an example where financial information may be at risk, users should only go to sites that are reputable for their safety. Fortunately, there are websites that are dedicated to aggregating peer reviews of online entertainment services, with the highest rated being the most secure. CasinoReviews.com is one site where users can find secure providers that won’t put them at any risk. Sites like these exist for many industries, Maltese citizens just need to know where to look before exposing themselves to unverified, unsafe websites.
Overall, the future is looking bright for Malta as one of the eminent internet hotspots in the Mediterranean. As the world embraces digital working and entertainment, security will improve and make everybody safer. In the meantime, Malta enjoys a bustling online entertainment scene that attracts new people to it every year.