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Gibraltar's economy one of world's fastest growing

Published 02/08/2015

Average annual earnings in Gibraltar have grown to £28,000, new figures show
Average annual earnings in Gibraltar have grown to £28,000, new figures show
The Rock of Gibraltar

Britons are being told to be wary when travelling to debt-ridden Greece - but figures show that another Mediterranean tourist destination is thriving.

Gibraltar continues to rank among the fastest growing economies in the world, statistics show.

Detail outlined in ministers' latest budget reports show that average annual earnings in Gibraltar have grown to £28,000 - an increase of nearly 20% in the past four years - and that fewer than 200 people are unemployed.

Chief Minister Fabian Picardo has announced a public sector pay rise of 2.75% a year over three years and a national minimum wage increase from £6.15 to £6.25.

Ministers say the main drivers of growth are rises in employment in online gaming and financial services industries.

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