Malta is on track to become one of the world’s top 15 richest countries per capita by 2040, with new projections showing the island is set to climb ten places in the global rankings.
The forecast is outlined in the latest World Economic League Table by the UK-based Centre for Economics and Business Research (CEBR).
Malta is currently ranked 25th, with a GDP per head of €41,660. However, it is projected to rise to 20th by 2035 (GDP per head of €65,887) and 15th by 2040 (GDP per head of €81,478).
If these projections prove accurate, it would mean that Malta will overtake the likes of the United Kingdom, Germany, Austria, Finland, Belgium, Canada, Sweden, and Israel in terms of GDP per capita.
These numbers have been highlighted in the British press, with The Telegraph pointing out that Malta’s low-tax policies and similar culture to the UK are proving popular with British entrepreneurs.
Meanwhile, Luxembourg, Ireland and Switzerland are expected to retain the top three positions, with Singapore forecast to move up one place to fourth and the United States set to climb two spots to fifth.
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