The Big Picture: Development of an Economic Strategy for the Isle of Man
Global changes and macroeconomic challenges have accelerated the need for the Isle of Man to focus on its economic strategy. The COVID-19 pandemic and associated impact on our society and economy has reinforced this and gives us the unique opportunity to progress this work under the Economic Recovery Programme.
An important element of the Economic Recovery Programme is the production of a five to ten year Economic Strategy for the Isle of Man.
The Economic strategy will look at macro trends and develop a strong, evidence based approach for the next stage in the Isle of Man’s growth.
Isle of Man Government have announced the appointment of KPMG as strategic partner to develop a five to ten year Economic Strategy for the Island, following a competitive process that attracted international responses for tender.
The KPMG Economic Strategy, ‘Our Big Picture’, will be constructed across five key phases; the Economic Vision, Macro Economic Research and Review, Development of Policy Levers, formulate a Strategic Framework and Establish a Monitoring Program. The first three phases of the project will analyse the Island’s current economy, consider models for policy change, and assess the Island’s strengths, weaknesses, opportunities and threats within a global context.
The KPMG team will be co-led by Dr Nicola Mazzarotto, Global Head of Economics for KPMG and Simon Nicholas, Partner at KPMG Isle of Man.
To contact the 'Big Picture' team at KPMG, email them here.
To learn more about the strategy shaping our Island's economy, click here, or watch the presentation below.
Project update: Your opportunity to shape the Isle of Man's economic strategy
- To help to build upon the information we have gathered in these workshops, we also need to gather a range of financial and operational data from businesses across all sectors of our economy. The Isle of Man Government has released two surveys to gather further information to help us build a picture of the Island’s economy as part of a project to produce a 5-10 year economic strategy.
- If your business has not yet responded please take the time to visit https://www.gov.im/ourbigpicture and follow the two survey links.
- You can complete either or both surveys, but we would urge you to complete both if possible (please note the data collected is aggregated and anonymised).
- We recognise it can be tricky pulling everything together and finding the time, therefore please proceed even if you don’t have all the information to hand, a partial response partial is better than none and the more responses we receive the clearer the picture will be.