Isle of Man News - POSTED Fri 18-07-2014

Off island spending

by Joanne Clague

Off island spending - picture

Households spend 18 per cent of their weekly expenditure on goods and services from off the island, according to a survey.

The government has issued a breakdown of weekly household expenditure, identifying spending patterns on the Isle of Man and off island. It's part of the Household Income and Expenditure Survey that is being used to help determine the Isle of Man's future share of VAT revenue.

The results also show that spending on recreation and culture, including holidays, account for the largest proportion of off island spend, with 50 per cent of all spending in this category being classed as off island.

Off island spending includes items bought/consumed outside the Isle of Man and internet shopping. Ferry travel and domestic air travel was classed as on island spending and international air travel and package holidays as off island expenditure.

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