Isle of Man Overview The Isle of Man is a small island, which is 32 miles long and 14 miles wide. It is located in the ...
Isle of Man Overview
The Isle of Man is a small island, which is 32 miles long and 14 miles wide. It is located in the Irish Sea, with its closest neighbour being Scotland. Travel to and from the Isle of Man is by either ferry, usually the Isle of Man Steam Packet, or by air. The Isle of Man has their own government, although they still form part of the United Kingdom. The population on the Isle of Man, as of the last census, showed the island had 84,497 inhabitants, with a quarter of the population living in the island's capital.
The Isle of Man is well known for being a low tax economy. The maximum tax on income is 20%, with no upper tax band such as the 40% tax bracket found in the UK. Residents of the Isle of Man also benefit from no capital gains, inheritance or stamp duty tax. The cost of living is on the same level as the mainland, however, rental prices are slightly higher. A one bed apartment in the city centre costs around £800pcm.
Isle of Man Job Opportunities
The Isle of Man job market thrives in the tourism industry which makes hospitality jobs popular. Offshore banking jobs and jobs in manufacturing industries are common too. A number of opportunities keep arising within the offshore banking sector, and within the postal sector, of which the Isle of Man has their own postal system.
Isle of Man Employment trends
The contribution to the island's economy from agriculture and fishing has been declining over the last ten years. The island has seen an increase in the markets in manufacturing, tourism and offshore banking.
With the Isle of Man being set in the Irish Sea, there are still strong opportunities within the travel sector. With tourism to the island increasing, this is set to continue. A number of Isle of Man jobs still exist within companies such as the Isle of Man Steam Packet (ferry) company and Manx Air.