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Articles

Gibraltar, One of Europe's Leading Economies

Written by: Bridgewest

Gibraltar-economy-leads-European-onesGibraltar is one of the strongest economies in Europe at the moment, with an impressive Gross Domestic Product on a year-to-year basis and a 0% unemployment rate. Our company formation agents in Gibraltar can offer you other reasons why the Rock is worth investing in.

Gibraltar’s economy rose by 8% in 2015

Gibraltar has become a role model for European countries with a continuous rising economy. In 2015 alone, the Rock witnessed an 8% increase in its Gross Domestic Products and, as numbers show, no unemployed individual was reported. Also, Gibraltar’s state budget has been on a surplus for 10 years now, which shows what a small but well-governed country can do.

The economy was sustained by three main industries: financial services, tourism and shipping. All three sectors benefit from a highly qualified workforce which has brought Gibraltar the fame of an outstanding financial and touristic destination. Coming up strong is the gambling industry.

Even if the small territory’s economic results are impressive, the Government continues to do its nest to attract foreign investment by creating new jobs and by offering one of the lowest corporate taxes in Europe. Taking into account that no VAT on sales is charged, the Rock promises to continue its ascent within the EU.

The workforce, one of Gibraltar’s strengths

From an active workforce composed of nearly 17,000 individuals in 2005, Gibraltar has managed to integrate 50% more of the population within its labor force, which at the end of 2015 accounted for 24,422 employees. This has set a new record in terms of jobs creation at European level in 10 years.

At the moment, most the employees are concentrated in the e-commerce, online gambling and electronic payments segments. A large portion of them have been brought from other European countries which has enabled the small country not only to have a talented, but also a diversified and international labor force. Many Gibraltar companies have hired individuals from Asian countries and even from the US.

If you are interested in investment opportunities in Gibraltar and need assistance in opening a company here, you can contact our company registration representatives.

 

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