Malta, a small island country in the Mediterranean Sea, has been gaining popularity as an international student destination in recent years. The country offers a high-quality education system, a pleasant climate, and a rich cultural heritage. However, one of the biggest attractions for international students is the cost of living in Malta, which is significantly lower than in other European countries. In this article, our DNBC Financial Group’s experts will explore the cost of living in Malta for international students, as well as other important aspects of life in this beautiful island nation.
Living in Malta: An Affordable Option for International Students
Cost of Living in Malta
Compared to other European countries, Malta is relatively affordable. According to Numbeo, a website that collects data on the cost of living in different cities around the world, the cost of living in Malta is 18.67% lower than in the United States, 27.29% lower than in the United Kingdom, and 13.92% lower than in Germany. The biggest expenses in Malta are housing, transportation, and food.
Accommodation is one of the biggest expenses in Malta. The cost of renting a one-bedroom apartment in the city center can range from €500 to €1.000 per month, while a three-bedroom apartment can cost upwards of €1.500 per month. Outside the city center, rent is typically cheaper, with one-bedroom apartments ranging from €400 to €700 per month and three-bedroom apartments costing €1.000 to €1.500 per month.
Food is also relatively affordable in Malta. A meal at an inexpensive restaurant can cost between €8 to €15, while a three-course meal at a mid-range restaurant can cost between €25 to €50. Grocery shopping is also affordable, with a weekly food budget of €50 to €100 for a single person, depending on their dietary requirements and preferences.
Transportation costs in Malta are also reasonable. A monthly bus pass costs €26, while a taxi ride starts at €6.50 for the first kilometer and increases by €0.50 for each additional kilometer.
Healthcare in Malta is generally free for Maltese citizens, but ex-pats and tourists must pay for medical services. Private health insurance is recommended for ex-pats and international students living in Malta, with prices ranging from €500 to €1.500 per year.
Cost of Living in Malta for International Students
Malta is an increasingly popular destination for international students. The cost of living for international students in Malta is generally lower than in other European countries, making it an attractive option for those looking to study abroad.
Tuition fees for international students in Malta vary depending on the institution and program of study. On average, tuition fees range from €7.000 to €15.000 per year for undergraduate degrees and €10.000 to €25.000 per year for graduate degrees.
Accommodation is also a major expense for international students in Malta. Many students choose to live in shared apartments or student residences, which can cost between €300 to €600 per month. Living with a host family can also be an option, with prices ranging from €450 to €700 per month.
Food costs for international students in Malta are similar to those for locals. Many students choose to cook their meals at home to save money, with a weekly food budget of €30 to €70 depending on their dietary requirements and preferences.
Transportation costs for international students in Malta are also reasonable. A monthly bus pass costs €26, while a taxi ride starts at €6.50 for the first kilometer and increases by €0.50 for each additional kilometer.
In terms of healthcare, international students in Malta are required to have health insurance. Private health insurance for students typically costs around €500 per year.
Tips for saving money when living in Malta as international students
As an international student in Malta, managing finances can be a daunting task. Studying abroad is expensive, and the cost of living in Malta can be overwhelming. However, there are several ways to save money while studying in Malta.
One of the most significant expenses for international students in Malta is the cost of transferring money from their home country to Malta. This is where DNBC Financial Group's international transfers come in. By using our services, international students can save a significant amount of money on transaction fees and exchange rates.
DNBC Financial Group's international transfers are easy to use and offer competitive exchange rates. We are a reliable and trustworthy way to transfer money, and we offer 24/7 support to ensure that all transactions are secure and successful.
Here are some tips for international students in Malta to help them save money:
- Budgeting: The key to saving money is budgeting. Make a list of all your expenses, including accommodation, food, transportation, and entertainment. This will help you to identify areas where you can cut back and save money.
- Cooking at home: Eating out can be expensive. Instead, try cooking at home. This is not only cheaper, but it can also be healthier. You can also try to find cheaper supermarkets and buy in bulk to save money on groceries.
- Public transportation: Public transportation in Malta is relatively cheap compared to other European countries. Consider using public transport instead of taking taxis or renting a car. This can save you a lot of money in the long run.
- Student discounts: Many places in Malta offer student discounts. Make sure you take advantage of these discounts wherever possible, such as at museums, cinemas, and restaurants.
- Part-time jobs: If you are allowed to work part-time while studying in Malta, consider getting a job. This can help you earn some extra money to cover your expenses and save money.
About DNBC Financial Group
DNBC Financial Group is a global financial organization that offers sophisticated digital payment systems, a usable payment platform, and global online money transfers to business and individual clients. DNBC Financial Group's objective is to streamline daily corporate operations, automate foreign financial transactions, and ensure that customers always make their payment deadlines.