Three year plan aims to strengthen Guernsey’s economy

Economic Development has set out eight priority areas for Guernsey's economy over the next three years.

Economic Development Committee Work Plan for 2026–2029, is focused on "strengthening Guernsey’s economy, improving competitiveness and supporting long-term growth."

The Committee says it will spend the majority of its time and resources on eight priority areas:

• Improving air and sea connectivity: including reviewing the Air Policy Framework and Air Transport Licensing Policy, developing new air routes and enhancing inter-Bailiwick links.
• Increasing visitor numbers and visitor satisfaction through the Visitor Economy strategy, tourism product improvements and consideration of a visitor levy.
• Strengthening trade links: including France and the Commonwealth, and supporting the extension of international trade agreements such as CPTPP and the GCC.
• Supporting the finance sector: delivering and implementing the Finance Sector Growth Strategy, supported by the Finance Sector Growth Forum.
• Accelerating digital adoption, AI and innovation through an updated Digital and AI Framework and an Innovation Plan.
• Completing the review of competition and regulation legislation and taking forward electricity regulation workstreams.
• Maximising the economic value of the Guernsey Registry and Aircraft Registry.
• Developing a new Economic Development Strategy to set a longer-term vision for growth, investment, skills, productivity and workforce participation.

The plan was shaped by feedback from local business, and the Committee says it will continue to engage regularly with industry groups.

President of Economic Development Deputy Sasha Kazantseva-Miller says that government and industry cooperation is vital in delivering economic development.

"Guernsey has strong economic foundations, but we are operating in an increasingly challenging demographic and global economic environment.

"Years of under-investment in productive infrastructure have also constrained our ability to grow, and we cannot assume that past success alone will secure future prosperity.

“Our Work Plan sets out the Committee's priorities within its mandate, focusing on the areas where we believe we can make the greatest difference across the economy.

"Priorities including improving connectivity, strengthening tourism and trade, supporting the continued growth 
of our finance sector, accelerating digital adoption and innovation, ensuring proportionate regulation and developing a long-term Economic Strategy for the Bailiwick.

“Many of the drivers of economic success sit beyond the Committee's direct responsibilities, making a joined-up approach across government, industry and the community more important than ever. 

“We also wanted to take the time to engage with industry before publishing the Work Plan, and the feedback we received has strengthened the final document. 

"A consistent theme was the importance of measurable outcomes, and this will be a key theme as we progress the delivery of the workstreams under the eight priority areas."

Progress will be reported throughout the year, in Work Plan reports and Committee statements to the States in March and September.