Impact of Gibraltar's economy on Campo area
The Chamber of Commerce is to announce the findings of an independent economic study that it has commissioned on the impact of Gibraltar's economy on the Campo area. "This is the first time that such an extensive investigation has been undertaken," said a spokesman.
Timed to coincide with the Chamber's Annual General Meeting next week, the Chamber's board will present the key findings to its members and also to the local media.
The study has been conducted by Bournemouth University led by Professor John Fletcher who has undertaken many similar studies of other regions for international organisations and governments over the last three decades.
Specifically, the study's findings will highlight:
• the value of goods and services bought from Spain by Gibraltar businesses;
• the value of spending by frontier workers employed in Gibraltar who live in the Campo and the effect of their spending on the Campo economy;
• the number of jobs which Gibraltar accounts for as a percentage of the overall jobs in the Campo;
• the amount of money visitors to Gibraltar spend on average each year
• the net direct effect of Gibraltar's economy on the Campo economy
Chamber President, Nicholas Russo, commenting on the study, said: "The study confirms what many in the local business community have probably felt but could not prove irrefutably until now. The results clearly show the real and positive impact that Gibraltar's economy has on the Campo and to an extent the Campo has on Gibraltar.
"As most people in the Campo know and particularly the increasing number of frontier workers coming to work on the Rock, Gibraltar is a significant engine of economic growth and when we present the results to our members next week the extent of Gibraltar's impact will be there for all to see."