Malta has witnessed an extraordinary 135 per cent increase in its share of the online gig economy over the past five years. However, despite this rapid growth, the country remains near the bottom of the global rankings, placing 90th in the world for online freelancing, according to a recent report by JobLeads. According to the report, Malta’s share of the global freelancers is now at 0.03 per cent.

The report, which examines data from the Online Labour Observatory and the World Bank Group, highlights the global expansion of the online freelance workforce. With nearly half (48 per cent) of Fortune 500 companies utilising freelance platforms, the demand for gig workers has never been higher. The number of freelancers worldwide is now estimated to be between 154 million and 435 million, representing up to 12 per cent of the global workforce.

While Malta’s freelance workforce has grown significantly, its small market size and limited global share mean it remains far from the top freelancing destinations. Leading the global gig economy is the United States, which dominates with a 28 per cent share despite an eight per cent decline over the past five years. Spain and Mexico follow, holding 6.98 per cent and 4.63 per cent of the global freelance market, respectively.

The challenge for Malta’s freelancers

The rapid growth of Malta’s online gig economy signals an increasing appetite for freelance and remote work opportunities. However, the country’s position near the bottom of the rankings raises questions about the challenges Maltese freelancers face in competing on a global scale. Factors such as a smaller talent pool, limited international reach, and competition from lower-cost labour markets may contribute to the struggle in securing a larger market share.

Additionally, the report highlights the dominance of software development and tech roles in the online freelancing sector, accounting for 36.41 per cent of the US market. Creative and multimedia positions (21.06 per cent) and clerical/data entry jobs (18.22 per cent) also play a significant role. For Malta to climb the rankings, efforts to develop these high-demand skill sets among its workforce may be crucial.