Gibraltar is one of the strongest economies in Europe, according to the latest reports. As the end of 2016 approaches, the Government has drafted several surveys which show the economic situations of the country. The results are more than OK, as Gibraltar has the second lowest unemployment rate in the world and Brexit could bring an increase of the Rock’s financial industry. For information on the most attractive industries at the moment, you can ask our company registration consultants in Gibraltar.
According to governmental figures, Gibraltar now has the second lowest unemployment level on a global scale. The overall unemployment rate is only 0.49% higher than Qatar, the country raking first in the indexes. At the end of the summer, Gibraltar had only 157 unemployed individuals. This figure is partially owed to the companies which have understood the role of a powerful workforce, but also to the Government which has encouraged businesses to seek for solutions for the unemployed. Not only that but the Government is continuing to actively search for other opportunities which could be explored by companies in Gibraltar in order to eradicate unemployment.
Our Gibraltar company formation agents can also offer information on the labor legislation applicable here.
If the low unemployment rate is an important internal factor to take into account when relying on a strong economy, external factors are also the be taken into consideration. One of these factors is Brexit which could mean an improvement of the financial industry and online gaming in Gibraltar. When it comes to the financial industry, the number of applications for licenses has increased considerably after UK’s vote to exit the EU. Online gaming has also seen a remarkable growth. The explanation for the stronger economy is that a small economy like Gibraltar’s is easier to maintain even after large shocks like the Brexit.
If you are interested in opening a company in Gibraltar and need assistance, you can rely on our company registration representatives. You can also contact us for information on the laws related to foreign investments applicable in Gibraltar.