Economy of the Isle of Man

Property prices are flat or declining, but recent figures also show an increase in resident income tax payers.

[4] The government's policy of offering incentives to high-technology companies and financial institutions to locate on the island has expanded employment opportunities in high-income industries.

[2] The stability of the island's government and its openness for business make the Isle of Man an attractive alternative jurisdiction (DAW Index ranked 3).

The government has published its national economic strategies for several emerging sectors: aerospace,[7] biomed,[8] digital media,[9] ICT.

The Isle of Man as an offshore financial centre has been repeatedly featured in the press as a tax haven, most recently in the wake of the Paradise Papers.

The Organisation for Economic Co-operation and Development's (OECD) Global Forum on Transparency and Exchange of Information for Tax Purposes has rated the Isle of Man as 'top compliant' for a second time: a status which only three jurisdictions in the world have achieved so far.

[13] The island has become the second nation after Austria to ratify a multilateral convention[14] with the OECD to implement measures to prevent Base Erosion and Profit Shifting (BEPS).

[17] The largest sectors by employment are "medical and health", "financial and business services", construction, retail and public administration.

[5] Among the largest employers of the Island's private sector are eGaming (online gambling) companies like The Stars Group, Microgaming, Newfield, and Playtech.

In 2005 PokerStars, one of the world's largest online poker sites, relocated its headquarters to the Isle of Man from Costa Rica.

[29] Among the most successful productions funded in part by Isle of Man Film agency were Waking Ned, where the Manx countryside stood in for rural Ireland, and films like Stormbreaker, Shergar, Tom Brown's Schooldays, I Capture the Castle, The Libertine, Island at War (TV series), Five Children and It, Colour Me Kubrick, Sparkle, and others.

Hosting of motorsports events, like the Isle of Man Car Rally and the more-prominent TT motorcycle races, contributes to the tourism economy.

[36] The island government's own report for the financial years 2014/15-2015/16 shows tourist accommodation to be in the lowest sector at 0.3%, ranking slightly above 'mining and quarrying' (0.1%).

[39] Ronaldsway Airport links the Isle of Man with six airlines to eleven UK and Irish scheduled flight destinations.