Industry helps deliver 14 percent of island's income and 1,500 jobs
The latest Isle of Man Budget Speech underlines the importance of the e-gaming industry now and in the future for the island economy, with Minister for Economic Development John Shimmin expressing pleasure this week at the economic progress that has been achieved despite difficult global economic conditions.
Shimmin said in his budget address that his department will help drive further economic growth and job creation.
"The Isle of Man continues to perform well in what remains a challenging global economy," the minister said. "Last year the government forecast that our economy would grow by up to 4 percent in 2013/14 and the evidence to date indicates that this will be achieved.
"We now expect we will maintain this level of growth in 2014/15, and that this trend will continue in the run up to 2020, with the e-Business sector being a key driver."
E-Business, in which e-Gaming is a dominant component, is the fastest growing element in the island economy at over 10 percent a year and accounts for around 14 percent of national Income and 1,500 jobs.
To maintain momentum, the Department for Economic Development is working closely with the private sector, focusing on skills development and international marketing to help local businesses win new revenues and to attract further new businesses to the Island, the minister said.
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