Isle of Wight Data

The Isle of Wight has recently experienced economic growth, which reflects the positive feeling on the Island at the moment. 

In recent years there have been a number of business successes and inward investments, along with some major regeneration projects such as Cowes Waterfront. This combined with the buzz that high profile events have created for the Island, for example the Isle of Wight Festival, the Bestival, Skandia Cowes Week and White Air, has attracted huge interest from potential investors.

Employment growth in the past half decade has also been impressive on the Isle of Wight, achieving growth well in excess of the South East and UK average. The non-manufacturing sector provided the bulk of job creation with, again, construction, business services and retailing performing particularly well.

A consequence of recent growth patterns is a change in the industrial composition of the Island’s economy. Business services and retailing have increased the share of the economy, while hotels & catering now accounts for a smaller proportion of the economy than it did in the late 1990’s.