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World Trade Center has already had a major impact on the Gibraltar economy

  • WTC Gibraltar contributes £65,000,000 to the economy when tax revenue, local spending multipliers and displacement ratios are taken into account

The World Trade Center in Gibraltar opened in February this year and the organisation commissioned the independent international economic consultancy Naime Ltd to study its impact on the local economy. That report was presented to the World Trade Centers Association in New York recently, and the results were extremely positive.

According to the Naime report, WTC Gibraltar contributes £65,000,000 to the economy when tax revenue, local spending multipliers and displacement ratios are taken into account. Up to 40 per cent of occupiers of the WTC are new to Gibraltar, which is higher than expected, and this is seen as a sign of sound confidence in Gibraltar despite the uncertainties of Brexit.