Presentation of Gibraltar 04_2010
- 1. A presentation on Gibraltar from the Gibraltar Chamber of Commerce
- 2. Where in the world
- 3. At the crossroads of continents – Europe & Africa Mediterranean Sea Atlantic Ocean Southern Spain Morocco AFRICA GIBRALTAR Straits of Gibraltar
- 4. Origins of Gibraltar Name comes from long ago when the Moors (Muslims from North Africa) occupied half of Spain for nearly 800 years. (711 – 1462 AD) Jebel or Gibral in Arabic means hill or mountain Tarik ibn Ziyad was the Berber ruler of neighbouring Tangier who occupied the Rock and kept it as an Arab stronghold. Gibraltar is named after him.
- 5. Anglo-Spanish approach to Gibraltar - an historical primer Historically a military garrison town since capture by the British in 1704 Franco era of harassment led to border closure in 1969 All supplies brought in by sea or air from UK or Morocco. Access to Spain via Morocco or UK Gibraltar once again under siege until 1982 when pedestrian frontier opened Vehicular frontier opened in 1985, one year before Spain joined EEC Continued basic policy between UK & Spain of agree to disagree until…… 11M: (2004) Spanish elections led to sea change in Spanish position Tripartite talks Cordoba Agreement signed between the three governments on 18/09/2006 New Constitution adopted 1 st January 2007 Gibraltar elections October 2007: GSD returned to power for 4 th term Spanish elections March 2008: PSOE returned to power for 2 nd term
- 6. Gibraltar – Key Facts & Figures Population: 28,000 Total land area: 6.5 sq km (Comparative: 11x The Mall in Washington) Natural resources: none Religion: Roman Catholic: 80%; Protestant: 7%; Muslim: 4%; Jewish: 2%; Hindu: 2%; Other: 5% Executive: Head of State: HM Queen Elizabeth II Chief Minister & Members of Parliament Legislature: House of Parliament (no upper house) Judiciary: Supreme Court, Court of Appeal Cultural make up: English, Spanish, Italian (Genoese), Maltese, Moroccan, Portuguese GDP 2009: £850m (US$1.3bn) Imports: UK: 60%, Spain: 30%, Other EU:10% Languages: English & Spanish
- 7. GDP Growth
- 8. Employment Number of registered employed
- 9. Gibraltar’s recent economic history Trading centre supplying goods and services to the garrison up to 1988 Since 1988 decreasing economic dependence on MOD 2008: three pillars of the economy have evolved Tourism Finance centre Port & shipping services Other significant sectors Online gaming Professional services (Trusts, Tax and Legal advisory)
- 10. TOURISM 10m visitors by land, air & sea Modern cruise and coach terminals. New air terminal & border link road. Completion by end 2010. Tourist expenditure £248m (€273m) VAT Free goods Variety of sightseeing and leisure attractions
- 11. FINANCE SECTOR More than 200 licensed institutions (banks, insurance companies, investment administrators) Licence passporting available via EU status Low corporate tax rate of 10% effective from 1/01/2011 No capital gains taxes No estate duties No witholding tax on dividends
- 12. PORT & SHIPPING SERVICES 2 nd biggest Mediterranean port for bunkers (4.7 million tonnes supplied in 2009) Over 9,740 deep sea merchant vessels called at Gibraltar in 2009 Over 210 cruise calls per annum (average 1400 passengers/vessel) VAT Free goods Ferry service to Tangier, Morocco & Algeciras
- 13. Growing economy from broader base of businesses New constitution from 1 st January 2007 Greater self-government Non-colonial status Evolution of Tripartite process More cross border cooperation & further regional development Elections: Gibraltar: by Nov 2011 Spain: March 2012 The future
- 14. T: + 350 200 78376 www. gibraltarchamberofcommerce .com