According to the latest report from the Malta Film Commission, the film industry’s contribution to the island’s gross domestic product will reach €1.2 billion between 2018 and 2025. This is six times more than between 2005 and 2017.
These figures have a significant impact on employment, with an increase of 2,500 workers – a fivefold increase compared to the previous period.
The report also examines the budgetary impact of financial incentives. It shows that Government income from film activity has consistently exceeded the cost of the cash rebates it pays out (which can amount to up to 40% of production costs incurred within Malta). Between 2018 and 2025 the positive balance was €12 million per year, four times that of the period 2005 – 2017 when it was €3 million per year.
The report indicates that the sectors most impacted by the growth of the film industry are: accommodation, food services, transportation and services related to art and entertainment.
Source: Screen Malta
