As is the case every Tuesday, last week, as well, on Feb. 4, the Malta Air charter flight that took off from Ben-Gurion Airport was jam-packed. Some three or four years ago, Israeli tourists discovered that the small island is a gem, offering magical landscapes and four lavish casinos.

Seven couples of merry retirees took their seats at the front of the plane, just ahead of us. They exchanged impressions about hotels and exhibited impressive familiarity with the island’s restaurants. Five days later, we met them again at the airport in Valletta, the capital. This time, the conversation centered on their gambling experiences.

It appears that relatively inexpensive package deals have placed Valletta high on the list of favorite Israeli gambling destinations, along with Rhodes, Burgas, Varena and other cities a mere two- or three-hour flight away.

Sea and casinos are not the only temptations Malta has to offer. Following the collapse of the Cypriot banking system at the start of 2013, businesspeople from around the world, including Israel, discovered the opportunities of Malta for those with money to invest. Hundreds of hedge and venture capital funds found refuge on the tiny island, and by the end of last year, more than 500 were operating there.