Unveiling Malta’s Success Stories: The Shared Economy’s Rise

Picture this: A bustling morning in Malta’s capital, Valletta. The sun casts a golden glow over the Grandmaster’s Palace, as a steady stream of tourists and locals alike queue outside a seemingly ordinary building. This is no ordinary queue, though. They’re waiting for the doors to open at Shared, Malta’s fastest-growing shared workspace provider.

From Garage to Grandmaster’s Neighbourhood

Shared’s journey is a testament to Malta’s evolving business scene. Founded in 2015 by serial entrepreneur David Pace, it started in a humble garage in Birkirkara. Today, it’s expanded to five locations, including the prestigious St. George’s Square in Valletta. This growth hasn’t gone unnoticed. Shared was recently awarded ‘Best Coworking Space in Europe’ at the 2021 European Coworking Assembly.

“We’ve seen a shift in mindset,” says Pace. “Malta’s entrepreneurs are embracing flexibility and collaboration. Shared is more than just a workspace; it’s a community.”

Malta’s Shared Economy: A Thriving Ecosystem

Shared is not an isolated success story. Malta’s shared economy is booming, with businesses like BikeShare Malta and Maltapark Residence leading the way. BikeShare Malta, launched in 2017, has revolutionized urban mobility, with over 100,000 rides logged to date. Meanwhile, Maltapark Residence, a co-living space in Msida, has become a hub for digital nomads and young professionals.

Dr. Marthese Portelli, CEO of Malta Enterprise, attributes this growth to Malta’s business-friendly environment and strategic location. “Malta’s shared economy is thriving due to our strong regulatory framework, incentives for innovation, and strategic position between Europe, Africa, and the Middle East,” she says.

The Future: Shared Spaces and Beyond

As Malta continues to attract international businesses, the demand for shared spaces is set to grow. Shared plans to expand to Gozo and beyond, while BikeShare Malta is exploring electric bike options. Meanwhile, Maltapark Residence is looking into expanding its co-living concept.

Pace believes that the future lies in integration. “Shared spaces aren’t just about work or living. They’re about creating a balance between the two. We’re seeing a future where work, life, and leisure blend seamlessly.”

As we look to the future, one thing is clear: Malta’s shared economy is here to stay. It’s transforming our cities, our work culture, and our way of life. So, the next time you’re in Valletta, take a moment to appreciate the queue outside Shared. It’s more than just a line; it’s a symbol of Malta’s evolving business scene.