Malta has recently privatised some state-controlled firms and liberalised markets in order to prepare for membership in the European Union, which it joined on 1 May 2004. For example, the government announced on 8 January 2007 that it is selling its 40% stake in Maltapost, in order to complete a
Film production is a growing contributor to the Maltese economy, with several big-budget foreign films shooting in Malta each year. The country has increased the exports of many other types of services such as banking and finance.
Malta is the popular tourist destination, with 1.2 million tourists every year. It is three times more tourists than residents. Tourism infrastructure has increased dramatically over the years and a number of good-quality hotels are present on the island.
Malta’s major resources are limestone, a favourable geographic location and a productive labour force. The economy is dependent on foreign trade (serving as a freight trans-shipment point), manufacturing (especially electronics and textiles) and tourism.
In 1869 the opening of the Suez Canal gave Malta’s economy a great boost, as there was a massive increase in the shipping which entered the port. Ships stopping at Malta’s docks for refuelling helped the Entrepôt trade, which brought additional benefits to the island.
Until 1800 Malta depended on cotton, tobacco and its shipyards for exports. After the British arrived, they came to depend on the dockyard for support of the Royal Navy, especially during the Crimean War of 1854. The military base benefited craftsmen and all those who served the military.
Until World War II Maltese politics was dominated by the language question fought out by pro-Italian and pro-British parties. Post-War politics dealt with constitutional questions on the relations with Britain (first with integration then independence) and, eventually, relations with the European Union.
The President of the Republic is elected every five years by the House of Representatives. The role of the president as head of state is largely ceremonial. The main political parties are the Nationalist Party, which is a Christian democratic party, and the Labour Party, which is a social democratic
The unicameral House of Representatives, (Maltese: Kamra tad-Deputati), is elected by direct universal suffrage through single transferable vote every five years, unless the House is dissolved earlier by the President on advice of the Prime Minister.