Jersey and Guernsey have long been established as popular holiday destinations and have a number of high quality hotels and tourist attractions. The Tourism industry now faces the challenges of a global market place as budget priced medium and long-haul air travel continue to broaden the range of destinations the islands compete with.
The Islands have recently seen increasingly substantial construction work in both the commercial and residential segments. The islands' construction industries both continue to support long established businesses and attract new ones. The combined construction industry sectors, including builders' merchants, contractors, and construction companies, are significant contributors to the GDP of both islands.
The Channel Islands offer consumers the opportunity to purchase goods without UK VAT added to the price. Although the Islands are in the process of introducing a Goods and Services Tax, this is likely to be substantially lower than in the UK
Until recently the Islands were serviced by Government owned bodies which held monopolies on telecommunication services in their respective Islands. The market has since been opened up to competition and additional service providers have established a presence on the islands.
Both Jersey and Guernsey have their own separately constituted governments (the States) that set the strategic and fiscal policies for each island. PwC provide services to both the States of Jersey and the States of Guernsey.
Commercial and passenger transport to and from the Islands is essential to success for both Jersey and Guernsey economies. The islands are well serviced with both air and sea transportation links operated by local and international businesses. Within the islands, the public transport and distribution networks support islanders and their businesses.
© 2017 - 2021 PwC. All rights reserved. PwC refers to the Channel Islands member firm and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details.