Malta International Airport is anticipating continued growth in 2024 after setting a new passenger record of 7.8 million in 2023, according to airport CEO Alan Borg.
This exceeds pre-pandemic levels from 2019 by 6.7%.
Travel Demand Outpaces Inflation, Conflict
The 2023 figure reflects a substantial 33% increase over 2022 numbers.
Borg attributed the significant bump to strong and resilient demand for travel despite economic challenges like inflation, geopolitical conflict, and higher airfares.
A healthy appetite for visiting Malta outweighed factors that may have deterred travelers.
UK, Italy Provide Bulk of Passengers
The top origin countries for passengers were Italy at 24%, the United Kingdom at 18%, Germany at 9%, France at 8%, and Poland at 5%.
The most popular departure airports were London Gatwick, Catania, Munich, Rome, and Frankfurt.
Malta maintained connections to 35 international destinations in 2023, only losing direct flights to Jordan.
Low-Cost Carriers Gain Market Share
Nearly 60% of 2023 passengers flew on low-cost airlines like Ryanair and Wizz Air.
Legacy airlines saw their share shrink 4% from 2019 to 38% currently.
Chartered flights remained negligible at 2% of traffic.
Ryanair alone commanded 46% of the market.
Targets Set for Continued Growth
Looking ahead to 2024, Borg projected that Malta Airport will surpass 8 million total passengers.
Forecasts call for €126 million in airport revenue, €42 million in net profit, and €45 million in capital investments.
If achieved, these targets would cement Malta Airport's robust rebound from pandemic lows.
ETIAS Eases Entry for Leisure Travelers
The anticipated passenger growth bodes well for leisure travelers from visa-exempt countries looking to visit Malta and the wider Schengen Area.
When the European Travel Information and Authorization System (ETIAS) launches in May 2025, citizens of over 60 countries will need to obtain travel authorization before arriving in Europe.
For short-term visitors to the Schengen Area, ETIAS aims to strengthen security while maintaining easy access.
The continued popularity of Malta Airport suggests ETIAS is unlikely to deter tourists when it takes effect.
Immigration Policy Supports Tourism and Talent
Malta’s thriving tourism and business environment depends on the nation’s relatively open immigration policies.
Programs like the Malta Permanent Residence Permit allow high-net-worth individuals and families to gain residence rights through property investment or business activity.
Separate visas attract digital nomads, students, and workers filling labor shortages.
As the airport grows, Malta may adjust its policies to align rising visitor and immigrant demand with economic and social priorities.
However, the overall direction favors travel-friendly rules benefitting the island.
Bright Skies Ahead for Malta Airport
The outlook reflects the airport's remarkable growth over the past decade.
Passenger totals have nearly doubled since 2013.
Malta Airport has outperformed many competitors across the Mediterranean amidst overall positive momentum for European air travel.
Continued strong demand appears likely barring major economic shocks.