According to the latest statistics by the National Statistics Office, real household gross disposable income per capita increased by 8.6% in 2024 compared to 3.2% in 2023. The increase aligns with other high economic and financial metrics for 2024 being a record-breaking year for the economy on various metrics.
Total household consumption expenditure in 2024 was estimated at €10 billion representing increases of 9.3% in nominal and 6.0% in real terms respectively. On a per capita basis, household final consumption expenditure rose by 6.2% in nominal terms and 3.1% in real terms.
When considering the rate of the real and final terms, the year was not record-breaking at all and this is because the real and final income has been suppressed when calculating inflation.
In total, the Maltese are saving and investing more, but there is a clear indication the the majority of the Maltese are spending more on necessities and this implies increased inequality. Household investment reached €904 million in 2024 compared to €852 million in the previous year. In turn, the investment rate of households, stood at 7.2% of their gross disposable income, 0.6% than the previous year.
Malta also had the fourth largest growth in per capita household income among EU countries. in the past two decades
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