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From Sagar Chakraverty, Opalesque Asia:

The Isle of Man, a tiny place whose history dates back to the neolithic era and the geography enshrouded with natural beauty, and known for its tourism, is ramping up its booming economy into a fund destination. This small island lies between Great Britain and Ireland in the Irish Sea. Financial and related services, manufacturing and tourism are key sectors of the island's economy. The Manx Government that runs this island believes in showering incentives to attract high-technology companies and financial institutions to open offices here. This policy of incentives has been well-rewarded; the island has seen rising employment opportunities in high-income industries.

According to the island Government (here) the key sector has been financial services which has grown by around two-thirds in the last six years. Banking contributes around one-fifth of the Island's gross domestic product, with the rest of the finance industry adding another 15% to 20%. In the last few years new economic activities have been developed, such as with aircraft registration and most significantly, e-gaming and other areas of e-commerce.

The financial sector is primarily into - deposit-taking, asset protection and management, packaged investments such as unit trusts, life assurance and also corporate management. Markets for these services are world-wide.

Why ......................

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