Guernsey Overview The economy of Guernsey is reasonably varied given that it is an island which is not (officially at ...
The economy of Guernsey is reasonably varied given that it is an island which is not (officially at least) a member of the European Union. Tourism, manufacturing and horticulture are all mainstays of the economy on the island and jobs in Guernsey reflect this. However, one of the most important sectors of the economy is in financial services. Financial sector jobs in Guernsey are usually in the fields of banking, fund management and insurance which – on their own – account for well over a third of the island's economy. Guernsey has a zero rated corporation tax rate for most companies that choose to have their headquarters there, so there are jobs available in administrative roles even if much of the work conducted by these companies is carried out elsewhere.
Guernsey Job Opportunities
Many of the jobs available in Guernsey will be for professional people with a track record in financial services. Investment managers and fund managers are in demand but so too are company secretaries and roles in the legal and para-legal professions. Given the demands of the blue chip companies that operate from the island, many jobs in Guernsey are in support roles, so IT professionals and people with a background in operations can usually find positions to suit them. Manufacturing jobs tend to be in light industry and electronics. Horticultural jobs revolve around Guernsey's cut flower industry. Despite all of the private sector jobs in Guernsey, it is the Health and Social Services Department which employs most people in a single organisation, with about 2,000 staff on its books. There are also a number of sales jobs available on the island, as these are found across all industries.
Guernsey Employment Trends
Guernsey's attractive tax regime is undergoing change which will make it compliant with European standards, but little change is expected in the financial services sector which makes up so much of the island's economic life. In 2014, the island authorities identified a skills gap between islanders and those needed for the future, particularly in IT, where demand is high. Unemployment is low on the island and in the first quarter of 2015 was fewer than 400 people.