I have just returned from a holiday in Malta, which I visited not only for its sunshine, but also because I was curious about its potential as a business location.
I was pleasantly surprised by what I discovered. English is spoken (in fact, English is Malta's "business language"), personal income taxes are low, and IT companies can avail of business tax incentives. Malta is also a recent entry to the EU and, from the beginning of 2008, will use the euro as its currency.
Add to this a lower cost of living than Ireland's, a lower salary level, affordable accommodation, and I wonder whether -- in my line of work -- I'm on the right island.
Other pros: there are direct Ryanair flights from Dublin, and daytime temperatures rarely drop below 12 degrees at any time of year!
No wonder then that many UK companies are already using Malta as a "nearshoring" destination (BBC).