Local Economy

Draft Local Economy Strategy

Business Isle of Man, has published its draft Local Economy Strategy which sets out a 10 year vision to ensure the Island remains a great place to live by increasing the vibrancy of our retail, leisure, and hospitality sectors.

View document

WORKING TOGETHER to create a Vibrant Community

The retail sector in the Isle of Man provides a shopping experience that caters to both the local population and visitors, with an excellent mix of well-known, multi-national high street brands and independent retailers.

With over 300 pubs, cafes, bars and restaurants the Isle of Man, has a vibrant hospitality sector catering to residents and tourists alike. The hospitality sector in the Isle of Man provides an excellent mix of independent, unique businesses along with well-known franchises, which together cater to both the local population and visitors.

Hospitality businesses in the Isle of Man can take advantage of access to a strong local supply chain of high quality produce from meat, fish and vegetables, to ales, wines and spirits.

Why the Isle of Man?

The Isle of Man boasts an extremely affluent ACORN (A Classification of Residential Neighbourhoods) profile with high spending power, that compares well to similar affluent UK cities. Average annual household income in the Isle of Man is 82% higher than the UK average. In addition to Executive Wealth groups, the Island’s capital- Douglas, has a high proportion of Career Climbers and City Sophisticate’s who have above average disposable incomes, further highlighting the high spending power the residents of the Island have.

Read the CACI Market Summary Report