Royal Bank of Scotland, Jersey

Economy and trade

Over the centuries the Island’s economy has undergone significant change from a focus on agricultural industry – whether it was cider, cattle or potatoes – through tourism, to the present day where
the financial services industry directly accounts for approximately 40% of the economy. The presence of a successful finance sector enables Jersey to provide high-quality public services and also means that the Island’s standard of living is higher than it might be otherwise: in 2011 gross value added (GVA) was £3.6bn, translating to £37,000 per head, one of the highest in the world. Jersey has a stable and internationally competitive tax regime that meets OECD standards of transparency and information exchange.