Money Advice for Travelers to Malta

May 25, 2006 (Press Release) -- Money Advice

By European standards, Malta is very good value. You can travel in comfort

and style for US$75-100 per day, though even US$30-35 a day will get you

pleasant hostel accommodation, a simple restaurant meal, a decent street-

side snack and enough cold drinks to keep you going.

Banks are the best place to change money; they almost always offer a

significantly better rate than hotels or restaurants. Waiters and taxi

drivers expect a 10% tip. All major credit cards are widely accepted.

Bargaining for handicrafts at stalls or markets is essential, but most

shops have fixed prices. There's a 15% value-added tax on all consumer

items.


Economy Facts

GDP: US$5.3 billion
GDP per head: US$13,800
Annual growth: 4%
Inflation: 2.8%
Major industries: Tourism, electronics, ship repair, construction
Major trading partners: Italy, Germany, UK
Member of EU: no


Currency

Maltese lira (Lm)
Relative Costs

Meals

Budget: US$5-10
Mid-range: US$10-25
Top-end: US$25 and upwards

Lodging

Budget: US$2-18
Mid-range: US$18-40
Top-end: US$40 and upwards


Source: http://www.yahoo.com