Guernsey
(British crown dependency)
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Financial services - banking, fund management, insurance - account for about 23% of employment and about 55% of total income in this tiny, prosperous Channel Island economy. Tourism, manufacturing, and horticulture, mainly tomatoes and cut flowers, have been declining. Financial services, construction, retail, and the public sector have been growing. Light tax and death duties make Guernsey a popular tax haven. The evolving economic integration of the EU nations is changing the environment under which Guernsey operates. Source: The World Factbook, CIA. |
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Places
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Guernsey
and the other Channel Islands represent the last remnants of the medieval
Dukedom of Normandy, which held sway in both France and England. The islands
were the only British soil occupied by German troops in World War II. Guernsey
is a British crown dependency, but is not part of the UK. However, the UK
Government is constitutionally responsible for its defense and international
representation.