International Financial Recruitment Ltd.
Profile - Isle of Man
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Isle of Man
Background - Part of the Norwegian Kingdom of the Hebrides until the 13th century when it
was ceded to Scotland, the isle came under the British crown in 1765. Current concerns
include reviving the almost extinct Manx Gaelic language. Isle of Man is a British crown
dependency but is not part of the UK. However, the UK Government remains constitutionally
responsible for its defense and international representation.
Location/Geography - Western Europe, island in the Irish Sea, between Great Britain and Ireland
Climate - temperate; cool summers and mild winters; overcast about one-third of the time
Size - 572 sq km
Population - 76,220 (July 2008 est.)
National Holiday - Tynwald Day, 5 July
Currency - Isle of Man pound (IMP), also known as the Manx pound; note: the British pound is
also legal tender, but change is given in IMP
Exchange Rate 2008 (est) - euros per US dollar - 0. (2007 - 0.)
Capital - Douglas
time difference: UTC 0 (five hours ahead of Washington, DC during Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
Government/Legal System - parliamentary democracy, the laws of the UK, where applicable,
apply and Manx statutes
Economy - Offshore banking, manufacturing, and tourism are key sectors of the economy. The
government offers incentives to high-technology companies and financial institutions to locate
on the island; this has paid off in expanding employment opportunities in high-income
industries. As a result, agriculture and fishing, once the mainstays of the economy, have
declined in their shares of GDP. The Isle of Man also attracts online gambling sites and the film
industry. Trade is mostly with the UK. The Isle of Man enjoys free access to EU markets.
Background - Part of the Norwegian Kingdom of the Hebrides until the 13th century when it
was ceded to Scotland, the isle came under the British crown in 1765. Current concerns
include reviving the almost extinct Manx Gaelic language. Isle of Man is a British crown
dependency but is not part of the UK. However, the UK Government remains constitutionally
responsible for its defense and international representation.
Location/Geography - Western Europe, island in the Irish Sea, between Great Britain and Ireland
Climate - temperate; cool summers and mild winters; overcast about one-third of the time
Size - 572 sq km
Population - 76,220 (July 2008 est.)
National Holiday - Tynwald Day, 5 July
Currency - Isle of Man pound (IMP), also known as the Manx pound; note: the British pound is
also legal tender, but change is given in IMP
Exchange Rate 2008 (est) - euros per US dollar - 0. (2007 - 0.)
Capital - Douglas
time difference: UTC 0 (five hours ahead of Washington, DC during Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
Government/Legal System - parliamentary democracy, the laws of the UK, where applicable,
apply and Manx statutes
Economy - Offshore banking, manufacturing, and tourism are key sectors of the economy. The
government offers incentives to high-technology companies and financial institutions to locate
on the island; this has paid off in expanding employment opportunities in high-income
industries. As a result, agriculture and fishing, once the mainstays of the economy, have
declined in their shares of GDP. The Isle of Man also attracts online gambling sites and the film
industry. Trade is mostly with the UK. The Isle of Man enjoys free access to EU markets.
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Copyright 2009. All rights reserved. International Financial Recruitment Ltd. Some information on this page obtained through The World Factbook.
