Online Gaming Companies Important To Isle Of Man Economy
Much like Gibraltar the Isle of Man’s economy is largely dependent on the online gambling sector. According to the report the online gaming industry made up about 13.5 percent of the national income in 2012/2013 which was the last time statistics were available.
Currently about 900 people are employed by this sector with an average yearly wage of £50,000. According to industry experts the amount of people employed in e-gaming in the Isle of Man should rise by 5-8 percent in 2015. There are about 52 gaming licenses that have been issue in the Island. This has been reduced due to factors such as the point of consumption tax which has been covered extensively by our team. According to the Association the majority of jobs are still proved by a handful of large companies.
The association went on to say there is an increase for global companies to look for new alternative places “to locate staff and services” which means there is no room for complacency. Tax incentives remain key to global companies investing in the Isle of Man and the island is quick to react to the changing needs of the business community.