Among the British overseas territories, Gibraltar has seen an incredible rise in the last few years.
This nation has its autonomous government and its own political system but when it comes to foreign affairs and issues, they are still regulated by the UK Government. The economy flourishing is due mainly to the several industries that the government invested.
Therefore, with the growth of foreign investors, the country is the capital of the offshore companies. Three industries are the main pillars of the economic advancement in Gibraltar including Tourism, iGaming, and services.
Gibraltar is the best tourist attractions with many fascinating places that diverse to visit. The beautiful landscape of the Mediterranean coast along with an impressive view of North Africa and the Rif Mountains of Morocco make it the most attractive location in Europe. Due to Gibraltar’s proximity to Spain, the country has had a cosmopolitan population and distinct culture as it is a Spanish and British influence.
Therefore tourism sector attributes a major role in the territory’s economic growth. The possibilities of investing in this land are interesting thanks to the 10% tax rate on company profits and the easy and quick procedure when creating investment funds. Besides, there are also beneficial tax rates applied to the societies and the lack of VAT (Value Added Tax).
Gibraltar is the center of remote gambling which is also the main reason for its growing economy. With the favourable gambling laws and the attractive taxation system, the investors choose to headquarter their online casinos there. These operators build their companies under the jurisdiction of GGC or Gibraltar Gambling Commission. It is one of the leading regulatory bodies that issue licences to both online and offline gambling operators.
Apart from the casino online, the authority offers licences to other sectors related to online gambling such as online sportsbooks and betting. Therefore, Gibraltar casino online is reputed to have various popular games, reliable payment methods, and attractive bonus packages. Most of the widely-known virtual casinos are regulated by the GGC meaning an ultimate gaming experience in a safe and secure environment. Among these big operators are Ladbrokes, Betfair, and William Hill.
The service sector is also the perfect investment industries in Gibraltar. Maritime service is one of the territory’s economy pillars that have been existed for a long time. With a ship agency specialization, Gibraltar’s maritime provides a range of services in the ports of Spain, Malta, North and West Africa, and the Canary Islands. The port of Gibraltar got the status as “Centre of Excellence”, which means the strength of the economic progression.
Another company that is reputed to offer the best service is the Rock. Having many customers in Europe, the firm is specialized in financial fields and other industries. Today, Gibraltar manages to seduce the investors across the world that has changed the country to be the destination of the offshore companies.
Gibraltar is among the countries that have had the highest income per capita in the world despite its size. This amazing change is certainly due to the biggest industries which invest in the country. The tourism sector has provided benefits for the territory as it has the top tourist attractions with impressive landscape and seascape.
Another controversy to increase the land’s economy is the proliferation of remote gambling. Probably, Gibraltar is the capital of online gambling companies because almost the giant operators in this sector are located there. What’s more, the service sphere is the third pillar of the country’s development. In fact, many companies are well-known to provide satisfied services to their customers in various fields like in a ship, financial, and more. Obviously, low taxations and the favourable conditions seduce the industries to invest in Gibraltar.