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Interest in moving to Guernsey swells

Business | Published:

THERE has been a surge in wealthy people relocating or looking to move to Guernsey, amid political uncertainty in the UK.

Promotional agency Locate Guernsey is tasked with attracting high net worth individuals to the island and it has seen dozens of relocations and more enquiries than during the whole of 2018 so far this year.

Political turmoil in the UK has been identified as a factor as Boris Johnson and Jeremy Corbyn slug it out over the outcome of Brexit and the keys to Number 10 Downing Street. Guernsey’s top politician, Gavin St Pier, has also been active on social media, highlighting Guernsey’s stability in contrast to the political uncertainty in the UK.

‘We have actually had the busiest July and August for a while. We have had a lot of people who are looking at their plan B depending on the outcome of any election result,’ said Jo Stoddart, director of Locate Guernsey. ‘Anyone who has come because of Brexit has already come. It’s now just the political uncertainty.’

Asked what was attracting people to Guernsey in particular, she added: ‘It’s the stability, it’s the safety. It’s the security.’

Her comments come after Deputy Charles Parkinson, president of the Committee for Economic Development, gave an update to the States Assembly on the work of Locate Guernsey.

‘Locate Guernsey has been working hard to attract high net worth individuals to relocate to the island and in 2018 it directly saw 24 relocations and 49 jobs created, with a total financial benefit of at least £1.15m.

‘In the year to date there have already been more new enquiries than during the whole of 2018 and there have already been 24 actual relocations by mid-August – as many as during the whole of 2018. This demonstrates the growing interest and confidence in Guernsey, as well as the growing presence and performance of the Locate Guernsey brand.’

Earlier this year, British cabinet minister and Brexiteer Jacob Rees-Mogg said a ‘flood of people’ may be heading towards Guernsey if Labour leader Jeremy Corbyn wins power in the UK.

Will Green

By Will Green
Business Editor

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