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Jersey Chamber of Commerce

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Strategic Overview for Economy

May 06, 2022

A vision for Jersey to become a consistently high-performing, environmentally-sustainable and technologically-advanced small island economy by 2040 has been set out in a strategy which has been published today (Friday 6 May).

The Outline Economic Strategy for Jersey 2022 – 2040 is based on data collection and analysis over the past two years, and presents an economy-wide (rather than sector-specific) direction of the next 20 years.

It presents five missions for Jersey’s economy by 2040:

  • to be a fair economy, with fair access for all Islanders to educational, housing and employment opportunities, collectively benefiting from the green transition and technology revolution
  • to be an international economy, which is outward facing, globally connected and that attracts diverse talent and investment
  • to be skills-led, where people are the key asset which drives competitiveness and socially-cohesive growth
  • to be resilient to economic shocks and agile to change
  • to be a recognised innovation hub, driven by investment in new opportunities and market-making processes, products and services

Senator Lyndon Farnham said: “This strategy will inspire action across the public, private and voluntary sectors to build our future high-performing, resilient economy. It is the culmination of a great deal of background work over this Council of Ministers’ term of office.

“The strategy will enable the activities of the Government of Jersey, arms-length organisations, and the private sector to be coordinated behind a collective vision, milestones and performance indicators.

“I’m pleased to provide this vision and a set of tools to shape and inform the policies of the next Council of Ministers.”

The Assistant Minister, Deputy Kirsten Morel, said: “This outline strategy provides the North Star that we know businesses have been asking for. The vision of an environmentally-sustainable and technologically-advanced island economy is one that all Islanders can now aim for, and which will give strength to the Island in the challenging years ahead.”

Outline Economic Strategy for Jersey - A vision for 2040 

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