Chamber announces results of updated economic study
The Gibraltar Chamber of Commerce has announced the findings of an updated economic study which it commissioned on the impact of Gibraltar’s economy on the Campo de Gibraltar. This is a complete update of the initial study which was first published in 2009. The updated study used data from 2013, the latest which were available.
This leading independent study has once again been conducted by Bournemouth University led by Professor John Fletcher who has undertaken many similar studies of other regions for international organisations and governments over the last three decades and who is recognised as a world leader in his field.
Specifically, the updated study’s findings show, amongst other things that:
- Gibraltar accounted for 1 out of every 4 jobs in the Campo region, (up from 1 out of every 6 jobs in the 2009 study);
- Gibraltar’s economy accounts for one quarter of the Campo’s GDP, (up from one eighth in the 2009 study);
- Gibraltar increased the GDP of the Campo region by £554m (€775m).
Chamber President, Christian Hernandez, commenting on the study said, “We have worked extremely hard to obtain this study and have expended significant financial resources to produce it. However, the result has been well worth it. These updated results clearly show the impact of the Gibraltar economy on the Campo de Gibraltar and evidence the very positive influence and impact which Gibraltar’s economy has on the Campo region and also to an extent which the Campo has on Gibraltar.”
“The first study used data from before the international financial crisis and before Spain entered a prolonged recession. In contrast, since then Gibraltar’s economy has continued to grow, create jobs and attract more inward investment. All of this has had very real benefits for Gibraltar and also for the Campo as a whole.”