IoD Isle of Man releases results of second Policy Voice survey
The Institute of Directors (IoD) Isle of Man has published the results of its second Policy Voice survey in which members are invited to provide their views on a range of issues pertinent to the business community and the economy.
With the continued focus of the Isle of Man Government on the Economic Plan, this survey has sought views and comments from IoD members on the challenges of employment and skills; on their future recruitment, training plans and immigration matters.
Highlighted results
How optimistic are you about the Isle of Man’s economy over the remainder of 2024?
- 41.5% of respondents were pessimistic about the Isle of Man economy for the 12 months ahead. This compared to 60% of respondents in the May 2024 survey.
- 20.5% of respondents were Quite Optimistic, 4% were Very Optimistic.
The Isle of Man Government engages well with my sector if it is considering policies that would affect it
- 11.5% of respondents considered that IOM Govt engages well with our members’ respective business sectors (on par with 12.5% of respondents from the first survey)
Do you believe the Isle of Man Government’s inward migration target of 5,000 new workers and 15,000 new residents is the correct ambition with the Economic Strategy?
- 32% of respondents consider this to be the right ambition, with 38% believing this to be too ambitious with concern over infrastructure being cited.
Steve Billinghurst, Chair, IoD Isle of Man, said:
“The shift in optimism for the Island’s economy is pleasing and we hope that we will see further improvement through 2025, notwithstanding the level of global uncertainty that’s risen in recent weeks.
The IoD greatly values the views of its members and our Policy Voice surveys are a key part of our engagement with members and with Government in respect of issues that matter to the Island’s business leaders. We see the monitoring of business confidence over time provides those setting Island policy a strong bell weather of the health of the economy from those facing the day to day challenges.
We will continue with this important tool to understand what our members are experiencing and how they feel about the economy and Government policy. Our next Policy Voice will seek response to the recent Isle of Man budget, the longer term Island Plan and Treasury’s fiscal strategy. We heard last week from the Treasury Minster that some of his Tynwald colleagues are already on the electioneering trail and its vital that the IoD continues to represent its members through this important period.
The third Policy Voice Survey will be issued by close of February, with a focus on the 2025 Manx Budget and the machinery of Government”
Download the full survey by clicking on the available documents (on the right). Alternatively contact [email protected]
