Should I Stay or Should I Go?
- Burçe Dündar Öztürk
- Feb 1
- 4 min read
My Impressions from Malta’s Economic Compass 2026
By Burçe Dündar Öztürk, Co-founder & Executive Director, Bold Future Global
As a foreigner living and working in Malta, I recently had the privilege of attending Malta’s Economic Compass 2026, hosted by the Malta Chamber. What follows are my impressions as an outsider looking in—a “stranger” trying to make sense of the economic conversations shaping this small but remarkably dynamic island. I don’t claim to have all the answers, but through the lens of Bold Future Global and our mandate to bridge innovation ecosystems, I see tremendous room for expanded collaboration. Let me share what I heard and how I interpret it.
The Chamber’s Wake-Up Call
The Malta Chamber’s opening message was striking and unambiguous: “Business as usual is no longer enough.” This wasn’t my observation—it was the central thesis of the entire event, delivered with conviction by the Chamber itself.
Malta Chamber President William Spiteri Bailey laid out the picture clearly: Malta boasts the highest GDP per square kilometer in the EU. Impressive, certainly. But as he emphasized, success has its limits. More people, more buildings, more pressure on infrastructure—Malta has been playing the quantity game, and it’s approaching the walls. The emphasis, he argued, must now shift towards productivity, innovation, and quality.
Here’s the demographic reality that struck me: Malta creates approximately 10,000 jobs annually while producing only 4,000 births. The heavy reliance on third-country nationals isn’t just a policy choice—it has become an economic necessity. The Chamber noted that temporary labour migration in its current form is not sustainable. The “let them come, work, and leave” model is showing cracks. What happens if they stop coming? What happens if they refuse to leave?
Listening to this, my mind wandered to The Clash’s classic question: “Should I stay or should I go?” It struck me as the perfect frame for what third-country nationals in Malta might be asking them‐ selves—and what Malta, in turn, must consider about its future workforce strategy.
As someone who is herself a third-country national, I found this discussion both uncomfortable and necessary. Without proper programs for social cohesion, adequate housing planning, functional road infrastructure, and responsive municipal services, Malta is building an economy on foundations that need reinforcement.
The Numbers: Strengths and Shadows
Malcolm Bray from Bank of Valletta provided economic context that deserves attention. Malta’s GDP is growing sustainably; the economy has expanded at an exceptionally fast pace. Malta sits above EU GDP per capita levels. Space generates enormous wealth here—which explains why property prices have reached eye-watering levels. (Interestingly, he also noted that Malta’s trade with the US is among the lowest—a gap that perhaps represents opportunity.)
But the shadow side is equally important: Malta’s R&D expenditure is among the lowest in Europe. The innovation ecosystem remains largely confined to the University of Malta and a handful of top-tier companies. The EU classifies Malta as a “moderate innovator”—and in technology performance compared to EU averages, Malta falls significantly short.
The heavy reliance on family businesses, while culturally significant, limits ecosystem diversification. The Chamber’s message was clear: Malta needs to be proactive, not reactive. It needs a coherent and honest approach to demographics, investment in skills and technology, improved governance, and long-term strategic thinking.
Where I See Opportunity: The Turkish Connection
This is where I shift from observer to advocate—and where Bold Future Global’s mandate becomes relevant.
Turkey is experiencing what economists call a “push factor.” A new Turkish diaspora is emerging: highly qualified professionals, innovative companies, and entrepreneurs with brilliant ideas ready to deliver, collaborate, and expand where incentives and opportunities align. Malta, with the right approach, could create a powerful magnet effect.
The foundations already exist and are growing stronger:
TUBITAK-Xjenza Malta Joint Calls have been running for five years, supporting collaborative R&I projects in water management, smart manufacturing, health technologies (including MedTech), and aviation—with digital technologies as a cross-cutting theme. Xjenza Malta has even doubled its funding for this program.
The Maltese-Turkish Business Council, recently endorsed by the Malta Chamber, is actively forging economic bridges. Turkish companies have already proven their capabilities in Malta’s construction sector and are expanding into production, trade, and broader investment.
Malta’s strategic position—an EU member state, English-speaking, Mediterranean, with established innovation frameworks—makes it attractive for Turkish businesses seeking European market access.
Malta’s Vision 2050 document speaks of resilience, sustainable economic growth, and transformation into a high-value-added economy. It identifies priority sectors: FinTech, digital industries, high-end manufacturing, pharmaceutical R&D, aviation, and the blue economy. Turkey has depth and talent in precisely these areas.
Here’s what I believe: Malta needs fresh blood, new ventures, new funds, and foreign direct investment that brings not just capital but knowledge and innovation capacity. Turkish entrepreneurs and researchers aren’t just looking for a place to work—they’re looking for partners, collaborators, and eco‐ systems where their ideas can take root and grow. Organizations like Bold Future Global can help identify the gaps in Malta’s innovation landscape and connect them with Turkish capacity ready to fill them.
A Good Collaborator for Malta’s 2050 Vision
I’ll be direct: I believe Turkey can be an excellent collaborator for Malta’s long-term ambitions. The bi‐lateral relationship has momentum. The institutional frameworks exist. The human capital is available.
What’s needed now is intentionality—from Malta Enterprise, from innovation agencies, from business councils, and from bridge-builders willing to do the matchmaking work.
Malta’s path forward requires moving beyond “moderate innovator” status. It requires diversifying the ecosystem, attracting quality investment, and building genuine partnerships. For Turkish professionals, innovators, and companies considering their next move, Malta deserves serious consideration.
And for Malta? Perhaps the answer to “Should I stay or should I go?” isn’t either/or. Perhaps it’s: “Let’s grow together.”
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About the Author
Burçe Dündar Öztürk is Co-founder and Executive Director of Bold Future Global. With a legal background and over 27 years of expertise in migration and international development, she has led large-scale, high-budget, and technically complex programmes for the EU and UN. She currently gives legal advice in the biotech field, always with a focus on social impact, and is passionate about empowering Turkish innovators to create global change.
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