AX Group’s Michael Warrington: ‘The economy is doing well… yet there are limitations and challenges’

With 2026 well underway, businesses are navigating a complex mix of growth and constraint. In a macro-level overview first published in the print edition of Malta CEOs 2026, we brought together economists, analysts and business leaders to assess sector trends, labour availability, cost pressures, sustainability requirements and the broader economic political context shaping the year ahead.

Michael Warrington steers a portfolio spanning hospitality, real estate, care, and construction, bringing a long-term lens on investment, infrastructure and the social foundations of growth.

“The economy is doing well, and not just from a local perspective – rating agencies and EU commentary project five years of additional growth, which is encouraging for business. Yet there are limitations and challenges that should inform our strategy.

Social pressures are impinging on both the political and economic agendas, with discussions about over-tourism and population size dominating. The sad reality is that we’ve seen population growth but haven’t had the foresight to plan the infrastructure to accommodate it, hence the traffic congestion and labour pressures.

Malta needs some fresh thinking in terms of social order. Our short-sighted approach to migration needs to change. Few people have embraced the reality that we depend on migrant workers, from birth to grave. We, as a society, must appreciate the value of migrant workers in Malta and not take them for granted. We must invest in people – they are fundamental to our economic growth.

On a scale of optimistic to cautious, my outlook is positive for 2026 and beyond. The economic fundamentals are good, with exciting opportunities ahead.

Setting a strategy for the next five years is clever, but I hope it won’t be riddled with compromises. Ultimately, we must remember that we’re planning Malta’s future for the next 100 years, with the consequences of our decisions today defining our country tomorrow.”

This forms part of a feature first published on Malta CEOs 2026, the sister print brand to MaltaCEOs.mt, both owned by Content House.