About Gibraltar

The Rock of Gibraltar sits at the southernmost tip of Europe, calling investors to its convenient crossroad between the Atlantic Ocean and the Mediterranean Sea. The body of water that separates Gibraltar from North Africa is called the Strait of Gibraltar and it plays a strategic part in the western Mediterranean seaways. Intrinsically linked with the sea, Gibraltar is one of the busiest Ports in all of the Mediterranean. The sub-tropical climate is warm and welcoming all throughout the year. The local people smile with a friendly charm that comes from a blend of many cultures that live together in a unique community.

The British military traditionally dominated the economy of Gibraltar with the Naval Dockyard providing the bulk of economic activity. This has however diminished in the last twenty years and it is estimated to account for only 7% of the local economy, compared with over 60% in 1984.

Nowadays Gibraltar has an extensive service-sector-based economy, dominated by financial services and tourism. A number of British banks and international banks have operations in Gibraltar. Gibraltar has become an International Finance Centre. There is no tax on capital income and other advantages. Recently many bookmakers and online gaming operators have relocated to Gibraltar, to benefit from operating in a regulated jurisdiction with a favourable corporate tax regime.

Tourism is also a significant industry. Gibraltar is a popular stop for cruise ships. The Rock of Gibraltar is a popular tourist attraction, particularly amongst British tourists. It is also a popular shopping destination and all goods and services are VAT free. Many of the large British high street chains have branches in Gibraltar including Marks and Spencer, BHS, Dorothy Perkins and the supermarket Morrisons.

Property Development has become a high profile industry with property prices challenging major European cities. This has been of significant benefit to Gibraltar which continues to develop at an unprecedented rate. It is anticipated that development will further accelerate in the event that agreement with Spain is reached on the joint use of the local airport which would open the airport to Europe as a whole. At present there are only flights to several major airports in London.

Figures from the CIA World Factbook show that Gibraltar has a GDP of over £432 million; with a per capita figure of £15,700.