The prosperity of our Island, and the funding of the services on which we rely, depends on a sustainable, vibrant and inclusive economy, underpinned by a skilled local workforce to serve it. Businesses in Jersey provide job opportunities, put money back into the local economy and create the wealth that the government taxes in order to sustain vital public services.
Medium-term focus: the Government Plan 2020-23
A Government Plan 2020-23 priority is to create a sustainable, vibrant economy and skilled local workforce for the future. It recognises the importance of government support if Jersey's economy is to grow, innovate and diversify and the need to work with industry to raise productivity. In particular, the Plan proposes a single Future Economy Programme to coordinate government support for and increase productivity across Jersey's established sectors of finance, agriculture, retail, hospitality and tourism, as well as emerging sectors such as digital.
Government fiscal policy has an important role to play in ensuring stable economic conditions and maximising the economic potential of the Island.
A sustainable, successful economy is important to the quality of life in Jersey, providing good employment opportunities and the income to fund essential services.
The financial and professional services sector has been the bedrock of Jersey's economy over recent decades. It is vital that we continue to protect and invest in this sector.
Jersey's retail sector plays an integral part in the Island’s economy and its attractiveness as a place to live and visit.
The hospitality sector plays an integral role within the Jersey economy thanks not only to its direct economic value but also because tourism spending benefits a wide range of other sectors. Tourism infrastructure and services also add to quality of life for Jersey residents and increase the Island's appeal as a business destination.
Jersey's rural economy is an integral part of the Island's history, culture, landscape and local sense of identity. The rural economy, in particular the agricultural industry, occupies approximately 68% of the land surface area of Jersey and as such has a fundamental influence on the landscape, wildlife, environment and water resources of the Island.
A modern, competitive and efficient construction industry is essential to Jersey’s economic prosperity and sustainable wellbeing. Aside from the sector's direct economic value, it creates, builds and maintains the homes in which people live, the workplaces in which businesses operate and the key infrastructure, such as roads, schools and hospitals, which provide the crucial services that Jersey needs.