Draft Local Economy Strategy

Supporting vibrant retail, hospitality, and leisure sectors in the Isle of Man

 Our Vision

To ensure the Island remains a great place to live by increasing the vibrancy of our retail, leisure, and hospitality sectors

We will achieve this by community led decision-making and the empowerment of Local Authorities, enabling initiatives that rejuvenate our Island’s urban centres. We will develop financial support mechanisms and policies that reduce business risk, lower barriers to growth, and drive entrepreneurship.

Our Local Economy

Developed by Business Isle of Man, an Executive Agency within the Department for Enterprise, the draft Local Economy Strategy provides a blueprint for strengthening the retail, hospitality, and leisure sectors in the Isle of Man.

While the local economy constitutes a broad range of sectors, this Strategy is focused on three specifically; retail, hospitality and leisure, recognising that they play an integral role in the wellbeing of all residents and are essential to facilitating strong and lively communities.

The Local Economy Strategy includes goals, objectives, and actions that have been devised with the aim of driving entrepreneurship, encouraging diversification, and reducing barriers to growth and investment. 

Give us your feedback!

Business Isle of Man, on behalf of the Department for Enterprise, is keen to receive your feedback on this Strategy. Your views and feedback are crucial to ensure that the Strategy effectively meets the needs and expectations of our community. You can provide us with your feedback in person by attending one of our feedback sessions, or assist us by completing the online survey. We will continue to collect feedback until the end of September 2024, after which we will publish the final version of the Strategy. We appreciate your contribution and look forward to your insights.

Click below to attend one of our Feedback Sessions!

North

Ramsey Townhall 13 August 6 pm- 8 pm

East

Launchpad (Hillary House) Event Space 5 September 6 pm- 8 pm

West

The Fairway at Peel Golf Club 11 September 6 pm- 8 pm

South

Falcon's Nest Hotel 12 September 6 pm- 8 pm

A 3-Pillar approach to Strategy Delivery

This strategy encompasses twenty strategic goals that address the challenges and capitalise on the strengths and opportunities the research and consultation process has determined. These strategic goals have been categorised under one of three policy pillars: Infrastructure & Place Management, Enterprise & Consumer Experience, and Local Empowerment & Partnerships along with associated actions that will assist in the achievement of each goal. Six strategic goals have been prioritised due to the significance of the opportunity or challenge they address, the accuracy with which their impact can be measured and the likelihood of the initiatives to catalyse positive change.

01. Infrastructure & Place Management
0.2 Enterprise & Consumer Experience
0.3 Local Empowerment & Partnerships

Listening to the Manx public and working with the business community

Extensive research, consultation and stakeholder engagement was undertaken to determine the vibrancy and economic health of the Island’s retail, hospitality, and leisure sectors.

This Strategy was informed by:

  • A Local Economy and High Street Survey which
    generated over 1,250 responses from Manx residents.
  • Consultation with representatives from over 90 businesses.
  • Comprehensive Town Audits which graded urban areas according to quality of place metrics.
  • Built environment surveys that categorised units and determined vacancy rates.
  • Considerable engagement and consultation with Local Commissioners.

"I am confident that this Local Economy Strategy will serve as a catalyst for positive change over the coming decade. It is a call to action for Local Authorities, businesses, and residents to work towards the vision they have for their communities, and for the Government to show equal dedication in facilitating their efforts. Together, we can ensure that our city, towns and villages are not only places of economic activity but also centres of community life, creativity, and opportunity."

Tim Johnston MHK, Minister for Enterprise

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