A total of 340,000 people will receive a €100 voucher to be spent at restaurants, bars, hotels and shops impacted by the COVID-19 pandemic.
Addressing a press conference Tourism Minister Julia Farrugia Portelli said the vouchers will be an important injection into the economy.
She said €80 out of the €100 voucher can be used in industries linked to tourism, while the remaining €20 can be used at other businesses forced to close down, such as retail outlets and hairdressers.
Each voucher will have its own unique QR code. Once scanned, the money will be transferred to the business by the government.
Malta Tourism Authority CEO Johann Buttigieg said the government would be launching an aggressive marketing campaign to attract tourists to Malta.
He said the sudden halt in tourist arrivals due to measures taken to combat the pandemic was expected to deprive the economy of €1.7 billion.
Prior to the closures in March, Malta had registered its highest ever tourism arrivals in January and February over the past 10 years.