Jersey, Saint Helier Parish

Economy

🇯🇪 Jersey, officially the Bailiwick of Jersey, is an island and self-governing Crown Dependency near the coast of north-west France. It is the largest of the Channel Islands and is 22 km (14 mi) from the Cotentin Peninsula in Normandy. The Bailiwick consists of the main island of Jersey and some surrounding uninhabited islands and rocks including Les Dirouilles, Les Écréhous, Les Minquiers, and Les Pierres de Lecq.

Jersey was part of the Duchy of Normandy, whose dukes became kings of England from 1066. After Normandy was lost by the kings of England in the 13th century, and the ducal title surrendered to France, Jersey remained loyal to the English Crown, though it never became part of the Kingdom of England.

Jersey is a self-governing parliamentary democracy under a constitutional monarchy, with its own financial, legal and judicial systems, and the power of self-determination. The island has a separate relationship with the Crown than the other Crown Dependencies and the Lieutenant Governor represents the Queen there. Jersey is not part of the United Kingdom, and has an international identity separate from that of the UK, but the UK is constitutionally responsible for the defence of Jersey.

The island has a large financial services industry, which generates 40% of its GVA. British cultural influence on the island is evident in its use of English as the main language and Pound sterling as its primary currency. Additional British cultural similarities include: driving on the left, access to British television and newspapers, a school curriculum following that of England, and the popularity of British sports, including cricket. The island also has a strong Norman-French culture, such as its ancient Norman language Jèrriais and place names with French or Norman origins. The island has close cultural links with its neighbouring islands in the Bailiwick of Guernsey. Jersey and its people have been described as a nation.

Economy Jersey's economy is highly developed and services-focused, with a GDP per capita of £45,320 in 2019. It is a mixed market economy, with free market principles and an advanced social security infrastructure. It is based on financial services (40% of GVA in 2012), tourism and hospitality (hotels, restaurants, bars, transport and communications totalling 8.4% of GVA in 2012), retail and wholesale (7% of GVA in 2012), construction (6.2% of GVA in 2012) and agriculture (1.3% of GVA in 2012). 53,460 people were employed in Jersey as of December 2010: 24% in financial and legal services; 16% in wholesale and retail trades; 16% in the public sector; 10% in education, health and other private sector services; 10% in construction and quarrying; 9% in hotels, restaurants and bars.

Thanks to specialisation in a few high-return sectors, at purchasing power parity Jersey has high economic output per capita, substantially ahead of all of the world's large developed economies. Gross national income in 2009 was £3.7 billion (approximately £40,000 per head of population). However, this is not indicative of each individual resident's purchasing power and the actual standard of living in Jersey is comparable to that in the UK outside central London.

Jersey is most notable for being one of the world's largest offshore finance centres. The UK acts as a conduit for financial services between European countries and the island. The growth of this sector however has not been without its controversies as Jersey has been characterised by critics and detractors as a place in which the "leadership has essentially been captured by global finance, and whose members will threaten and intimidate anyone who dissents". In June 2005 the States introduced the Competition (Jersey) Law 2005, a competition law based on those of other jurisdictions, to regulate competition and stimulate economic growth.

Tourism is an important economic sector for the island. Hospitality (hotels, restaurants and bars) made up 4.2% of Jersey's GVA in 2019. It is estimated that the wider contribution of tourism in particular is 8.3% (2017). Travel to Jersey is very seasonal. Accommodation occupancy is much higher in the summer months, especially August, than in the winter months (with a low in November). The majority of visitors to the island arrive by air from the UK.

In 2017, 52% of the Island's area was agricultural land (a decrease since 2009). Major agricultural products are potatoes and dairy produce; agriculture's share of GVA increased 5% in 2009, a fifth successive year of growth. Jersey cattle are a small breed of cow widely known for its rich milk and cream; the quality of its meat is also appreciated on a small scale. The herd total in 2009 was 5,090 animals.

Fisheries and aquaculture make use of Jersey's marine resources to a total value of over £6 million in 2009. Farmers and growers often sell surplus food and flowers in boxes on the roadside, relying on the honesty of customers to drop the correct change into the money box and take what they want.

In the 21st century, diversification of agriculture and amendments in planning strategy have led to farm shops replacing many of the roadside stalls.

Along with Guernsey, Jersey has its own lottery called the Channel Islands Lottery, which was launched in 1975.

On 18 February 2005, Jersey was granted Fairtrade Island status.

Europe/Jersey/St_Helier 
<b>Europe/Jersey/St_Helier</b>
Image: Adobe Stock Lux #317593993

Jersey is the #57 city in the world according to the Global Financial Centres Index (GFCI) which evaluates and ranks the competitiveness of the major financial centres of the world according to a wide range of criteria – Human Capital, Business, Finance, Infrastructure and Reputation.

The Jersey Bailiwick has a population of over 107,800 people. For the location of Jersey see: Saint Helier.

To set up a UBI Lab for Jersey see: https://www.ubilabnetwork.org Twitter: https://twitter.com/UBILabNetwork

Text Atribution: Wikipedia Text under CC-BY-SA license | GFCI

Antipodal to Jersey is: 177.891,-49.185

Locations Near: Jersey -2.10913,49.1852

🇯🇪 St Helier -2.1,49.183 d: 0.7  

🇯🇪 Saint Helier -2.1,49.183 d: 0.7  

🇬🇬 St Peter Port -2.537,49.456 d: 43.2  

🇫🇷 Saint Malo -2.007,48.649 d: 60.1  

🇫🇷 Saint-Malo -2.008,48.648 d: 60.2  

🇫🇷 Cherbourg -1.62,49.63 d: 60.8  

🇫🇷 Cherbourg-en-Cotentin -1.625,49.639 d: 61.4  

🇫🇷 Coutances -1.444,49.049 d: 50.7  

🇫🇷 Dinan -2.048,48.454 d: 81.4  

🇫🇷 Avranches -1.361,48.681 d: 78.3  

Antipodal to: Jersey 177.891,-49.185

🇳🇿 Christchurch 172.617,-43.517 d: 19266.4  

🇳🇿 Dunedin 170.474,-45.884 d: 19348.6  

🇳🇿 Canterbury 171.58,-43.543 d: 19223.2  

🇳🇿 Wellington 174.767,-41.283 d: 19103.2  

🇳🇿 Hutt 174.917,-41.217 d: 19099.1  

🇳🇿 Lower Hutt 174.917,-41.217 d: 19099.1  

🇳🇿 Masterton 175.664,-40.95 d: 19082.9  

🇳🇿 Upper Hutt 175.05,-41.133 d: 19092.6  

🇳🇿 Porirua 174.84,-41.131 d: 19088.4  

🇳🇿 Palmerston North 175.61,-40.357 d: 19017.2  

Bing Map

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