The report raises the following questions - how are island communities coping with the effects of the recent global economic and financial turmoil? What are island governments doing to sustain and/or develop their economies? In seeking answers to these questions, twenty island government economic development strategies/plans are reviewed.
A variety of islands were selected based on economic characteristics, size of population and size of landmass providing a spread of economies which included Bermuda, Singapore, Prince Edward Island, Jersey, Isle of Man, Tasmania and the Cayman Islands.
A review of each of the twenty islands economic development strategies and plans was undertaken together profiling and identifying government funding and target sectors for support.
Development strategies and plans for three islands are used as case studies providing a more in-depth insight into how these island authorities are seeking to enhance their economies. The research has sought to identify innovative ways of sustaining economic activity and what Governments and stakeholders are doing to improve market share in certain sectors. As a result of the global economic and financial crisis some Governments have shifted their focus geographically either at a global level, ‘tapping into’ world markets or at a more localised/regional level.
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