A study of the Isle of Man's economy by business service provider Ernst & Young shows that online gambling has played a positive role in bringing several benefits to the island.
The report cites that IoM's world class telecommunications infrastructure as having helped turn it into an “important location for eCommerce and eGaming”.
The Isle's internet gaming industry provides around 645 jobs and grew by 41% in 2010. The growth is expected to continue, as the European Commission estimates that the online gaming sector will double in size globally between 2008-13.
Commenting on his company's survey, John Hopes, a Partner at Ernst and Young said: “This research highlights the Isle of Man’s business friendly environment and modern regulatory framework aligned to international standards, which has proven pivotal in supporting the development of modern infrastructures and a highly skilled workforce, in turn fostering inward investments and entrepreneurial initiatives in high value added sectors with a strong competitive edge.”
The Isle of Man's Chief Minister Allan Bell MHK also commented, saying: “This report provides an objective view of the Isle of Man’s economic strengths and the significant contribution we make to the global economy. It also emphasizes the success we have had in creating an attractive base for a variety of high value non-financial sectors, and the increasing extent to which these sectors contribute to the Island’s growth as a whole.”