iGaming becomes Isle of Man’s largest industry
The newest official analysis shows, that the iGaming industry has become the biggest sector within Isle of Man economy.
Growing by 30% during the last 12 months, online gaming was the second most important driver of growth (after Information and Communication Technology).
iGaming is now representing 16.7% of overall industry share. Other relevant pillars of Isle of Man economy are insurance (14,6% share), banking (7.7%) and other finance and business services (10.1%).
Gross domestic product went up to £4.32 billion (€5.96bn/$6.64bn) in 2013-14 after real growth, which accounted for 4.5% during the year.
Allan Bell, Chief Minister, said that the figures prove the diversification of the economy away from finance was successful. Mr Bell also said this allowed the island to stop going into recession. “This was the biggest increase in annual GDP since 2008, the year of the credit crunch”, he further comments.
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