Upload
gibraltarcc
View
1.977
Download
1
Embed Size (px)
Citation preview
The impact of theThe impact of theeconomy of Gibraltar on the economy of Gibraltar on the
Campo de GibraltarCampo de Gibraltar- - an independent study commissioned by the an independent study commissioned by the
Gibraltar Chamber of CommerceGibraltar Chamber of Commerce
September 2009September 2009
GIBRALTAR CHAMBER OF COMMERCE
Study TeamStudy Team
Prof. John Fletcher
Prof. Adam Blake
Dr Yeganeh MorakabatiThe team has undertaken impact studies and research for more
than 100 countries for National Governments and International
Agencies such as the EU, World Bank, UN, USAID and WTO
GIBRALTAR CHAMBER OF COMMERCE
Study ObjectivesStudy Objectives
Assess Gibraltar’s impact on the Campo
Increase awareness & educate
Use robust data to analyse the economic
flows (the official Gibraltar and Andalucía
Economic models [2000-05])
GIBRALTAR CHAMBER OF COMMERCE
MethodologyMethodologyUsing: Gibraltar Input-Output Model Andalucía Input-Output Model Survey of members (online and paper) Data from previous studies Data from Statistics Office
Online Survey of property prices in the Campo
GIBRALTAR CHAMBER OF COMMERCE
Gibraltar employmentGibraltar employmentby sectorby sector
Sector Employment (FTE)
% of Total
Manufacturing 438 2.3
Electricity & Water 295 1.6
Construction 2,087 11.2
Wholesale, Retail and Importers 2,484 13.3
Hotels, Restaurants & Bars 911 4.9
Transport & Communication 989 5.3
Finance Sector 1,621 8.7
Business, Real Est. & Professional Services
1,701 9.1
Government 3,735 20.0
Other Services 3,396 18.2
M.o.D. 1,032 5.5
Total 18,688 100.0
GIBRALTAR CHAMBER OF COMMERCE
Gibraltar GDP by sectorGibraltar GDP by sectorSector GDP £m GDP per
Employee £
Manufacturing 12.74 29,082
Electricity & Water 15.04 50,989
Construction 55.68 26,678
Wholesale, Retail and Importers 104.85 42,210
Hotels, Restaurants & Bars 19.05 20,909
Transport & Communication 48.18 48,716
Finance Sector 141.07 87,028
Business, Real Est. & Professional Services
66.48 39,081
Government 123.38 33,034
Other Services 112.50 30,120
M.o.D. 22.37 21674
Total 721.33 38,599
GIBRALTAR CHAMBER OF COMMERCE
Principle economic flowsPrinciple economic flows Visitors
Imports Earnings Spending
GIBRALTAR CHAMBER OF COMMERCE
Expenditure by type of visitorExpenditure by type of visitor Visitor Type Expenditure £m
Staying Visitors (hotels) 26.88
Excursionists (cruise ships) 10.74
Visitors (yachts) 0.68
Visitors in Supplementary Accommodation 14.85
In-Transit Visitors 1.02
Excursionists from Spain 176.41
Total 230.58 Source: Derived from Gibraltar Tourist Survey, 2007
GIBRALTAR CHAMBER OF COMMERCE
Expenditure by vExpenditure by visitors to Gibraltarisitors to Gibraltarfrom the Campofrom the Campo
Visitor Type Expenditure £m
Land Visitors 109.37
Air Visitors 3.05
Sea Visitors 0
Total 112.42
GIBRALTAR CHAMBER OF COMMERCE
Business imports to GibraltarBusiness imports to Gibraltardirectly from Spaindirectly from Spain
Business Imports £m
Goods 149.85
Services 24.40
Total 174.25
GIBRALTAR CHAMBER OF COMMERCE
Earnings of registered Spanish Earnings of registered Spanish frontier workers in frontier workers in Gibraltar Gibraltar
Sector £'s FTEsConstruction 11,864,433 671.0
Distribution 8,181,376 605.0
Education 114,539 1.5
Electricity & Water 328,392 6.0
Finance 1,713,892 63.5
Health & Soc Services 3,260,895 168.5
Hotels & Rest 3,704,725 312.5
Manufacturing 943,337 64.5
Other Services 3,504,260 193.5
Public Administration 31,080 1.5
Real Estate & Bus Services 4,509,331 273.0
Shipbuilding 1,820,861 48.5
Transport & Communications 2,990,871 137.0
Total 42,967,992 2,546.0
GIBRALTAR CHAMBER OF COMMERCE
Registered Spanish fRegistered Spanish frontier workers:rontier workers:spending spending withinwithin Andalucía Andalucía
£'s
Distributive Trade, Restaurants, Housing Services, etc.
24,660,661
Raw Materials 12,860
Manufacturing 625,514
Other Goods 332,239
Adv & Prom 11,076
Insurance 302,706
Transport 698,743
Telecomm 605,872
Government 150,907
Total 27,400,578
GIBRALTAR CHAMBER OF COMMERCE
Spending by frontier workers of other nationalities in the economy of Andalucía
£'s
Distributive Trade, Restaurants, Housing Services, etc.
33,065,853
Raw Materials 17,243
Manufacturing 838,711
Other Goods 439,737
Adv & Prom 14,851
Insurance 405,879
Transport 936,898
Telecomm 812,374
Government 202,341
Total 36,733,887
GIBRALTAR CHAMBER OF COMMERCE
Gibraltar residents’Gibraltar residents’expenditure in Spainexpenditure in Spain
£'s
Distributive Trade, Restaurants, Housing Services, etc.
26,072,293
Raw Materials 29,404
Manufacturing 1,430,208
Other Goods 759,649
Adv & Prom 9,741
Insurance 266,208
Transport 614,495
Telecomm 532,821
Government 132,712
Total 29,847,531
GIBRALTAR CHAMBER OF COMMERCE
Spending by Gibraltar residents with Spending by Gibraltar residents with second homes in Spainsecond homes in Spain
£'s
Distributive Trade, Restaurants, Housing Services, etc.
30,168,171
Raw Materials 15,732
Manufacturing 765,211
Other Goods 406,439
Adv & Prom 13,550
Insurance 370,310
Transport 854,795
Telecomm 741,182
Government 184,610
Total 33,520,000
GIBRALTAR CHAMBER OF COMMERCE
GibraltarGibraltar SpainSpain
Spanish Frontier Workers £27M
Spanish Visitor Spend £134M
Net Direct Effect £168M
Gib 2nd Homes Spend £33M
Gib Resident Spend £30M
Business Imports £174M
Other Frontier Workers £37M
GIBRALTAR CHAMBER OF COMMERCE
Total economic effect of Total economic effect of Gibraltaron the Campo economyon the Campo economy
Direct Indirect Induced TotalSource GDP £m GDP £m GDP £m GDP £mGibraltar Business Imports
69.37 43.56 46.88 159.80
Spanish Frontier Workers
42.97 19.19 27.15 89.30
Other Frontier Workers
57.39 25.62 36.26 119.27
Gibraltar Resident Spending
10.69 5.07 6.39 22.14
Gibraltarians with 2nd homes in Spain
14.84 6.63 8.62 30.09
Total GDP effect 195.26 100.06 125.28 420.60
GIBRALTAR CHAMBER OF COMMERCE
Gibraltar’s Overall Impact Gibraltar’s Overall Impact
The Gibraltar economy was responsible for
12.2% of the total GDP in the Campo de Gibraltar And 0.42% of the total GDP of Andalucía in 2007
GIBRALTAR CHAMBER OF COMMERCE
Other ImpactsOther Impacts
The analyses excludes petroleum exports to Gibraltar from the region ~ this would add approximately another £300M to the impact of Gibraltar on the Campo’s economy
Proximity to Gibraltar increases wealth through property prices by an estimated £1.4 - £5.4 billion
GIBRALTAR CHAMBER OF COMMERCE
SummarySummary Gibraltar is a significant creator of wealth in the Campo -
adding £420m to the economy in 2007.
Gibraltar is a significant generator of sustainable jobs – Gibraltar accounts for 1 out of every 6 jobs in the Campo.
Gibraltar businesses buy significant amounts of goods and services from Spain - £174m.
The Campo de Gibraltar benefits substantially both directly and indirectly from Gibraltar’s economy
Gibraltar continues to be an engine of economic growth and wealth creation for the entire region.
GIBRALTAR CHAMBER OF COMMERCE
T: + 350 200 78376www.gibraltarchamberofcommerce.com