Gibraltar: Doing business & staying in touch

Doing business in Gibraltar

English is normally used for business, but Spanish may be used for business connected with Spain.

Office hours

Mon-Fri 0900-1700; 0800-1400 in summer.

Government office hours: Generally Mon-Fri 0845-1315 and 1415-1730, but hours vary according to department and season.

Economy

The main sources of income are tourism and offshore financial services, principally banking, insurance and shipping-related services. The industrial economy is based on ship repair, construction and small-scale manufacturing.

The British armed forces (historically the main source of revenue through their base facilities on the Rock) sharply reduced their presence from 1994 onwards and now provide less than 10% of GDP. Since then, concessionary tax and corporate facilities for foreign companies have boosted the financial services sector.

Since 1998, a substantial gambling industry has developed, servicing punters from throughout Europe (again the consequence of a favourable tax regime) and it now makes a significant contribution to employment and government revenue.

The economy as a whole is sensitive to the state of relations with Spain and, in particular, restrictions on border crossings since a significant number of Spaniards have jobs on the Rock.
Europort Gibraltar, an 82,000 sq metre (212,000 sq ft) financial complex, offers extensive office and conference facilities in addition to Gibraltar's recently refurbished hotels. St Michael's Cave (see Top Things To See & Do) offers an absolutely unique and scenic location for meetings.

GDP

£602 million (2009).

Main exports

Petroleum and manufactured goods.

Main imports

Fuels, manufactured goods and food.

Main trading partners

Keeping in Touch in Gibraltar

Mobile phone

Coverage spans the whole of Gibraltar and a large part of the sea around. Handsets can be hired.

Internet

Internet cafés are available.

Post

Airmail within Europe takes one to five days. Airmail flights are usually daily.

Post office hours

Mon-Fri 0900-1630 (0900-1415 in summer), Sat 1000-1300.

Media

Television and radio services are operated by the Gibraltar Broadcasting Corporation (GBC). The broadcaster's services are partly funded by TV licence fee revenues. Radio and TV stations based in Spain, and broadcasts for British forces in the territory, can be received. Newspapers are in English; some have Spanish sections: The New People, Panorama (www.panorama.gi) and Vox are published weekly; The Gibraltar Chronicle (established 1801) is the only daily (www.chronicle.gi). The local radio station is Radio Gibraltar, and BFBS Radio Gibraltar is for British forces.

Edited by Jane Duru
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