Winston Zahra Jnr has long advocated for the move towards quality tourism on the island. Now, more than ever, he believes this to be the most important factor for local hoteliers and hospitality entrepreneurs to consider in their business decisions.

“The biggest danger faced by the business world in Malta at the moment is that we are growing too fast, and we risk losing control. Off the back of that, there are also reputational risks to consider that could have repercussions in the longer term. We need to consider how business should change mindset to address this challenge.”

Having played a major role in the development and growth of Island Hotels Group for 25 years, Mr Zahra is one of Malta’s most knowledgeable business leaders within the hospitality sphere.

In 2018, he joined the UK-based hotel chain, GG Hospitality, as an Investor and CEO, where he has spearheaded a number of initiatives, including the recent opening of Manchester’s five-star Stoc Exchange Hotel.

He was commenting in a segment entitled ‘Malta’s business leaders have their say on 2020’ in the Malta CEOs 2020 publication.

A well-known entrepreneur, Mr Zahra believes that the fundamentals of entrepreneurship will largely be the same in the years to come, but stresses it is the circumstances around it that could change.

“The atmosphere within which you set up a business plays a major role in how successful it will be,” he says. “Is the climate complicated or uncomplicated? Is it heavily bureaucratic or quite simple? All of this plays a huge role in the freedom you have to achieve the results you want to.”

Looking back, Mr Zahra says there is no doubt that Malta’s accession to the EU was the country’s biggest economic game changer. “Now, if you’re in the UK for instance, Brexit is likely to be a huge factor when it comes to the success of businesses operating in the wake of the changes it will bring.

"Ultimately, when certain economic factors are simple, then it is more likely that entrepreneurship will thrive. Of course, some people also thrive under the uncertainty but, as a rule, most are put off.”

Locally speaking, Mr Zahra stresses that the key aspect for the Maltese economy in 2020 and beyond will be to not kill the ‘golden goose’ that has given us so much in the last 10 years or so.

“Products, service and quality are slipping,” he says. “If they slip too much, then numbers will go down much faster than they came up.

“Thus, I think the trends for the years to come will depend very much on the service we offer today. Our focus must be on quality products, excellent service, and long-term thinking, otherwise we will be forced to remain a volume-based destination, which won’t be a positive thing for the island or our economy,” he concludes.