Economic Strategy Board

The Economic Strategy Board is a subcommittee of the Council of Ministers and has been established to ensure that the utmost priority is given to the three strategic objectives within the Island Plan, which is for the Isle of Man to be: Secure, Vibrant and Sustainable.

This sub-committee leads on the Island Plan theme of ‘A Strong and Diverse Economy’. As outlined in the Island Plan, a key project which the Economic Strategy Board will be responsible for progressing and delivering is the long-term Economic Strategy for the Island, commissioned in 2021. In addition to this, the Economic Strategy Board is responsible for ensuring the delivery of the relevant economic priorities, targets and objectives within the Island Plan, and will undertake detailed policy development on strategically important issues, identifying and drafting economic policies to recommend to the Council of Ministers.

The Isle of Man's Economic Strategy

In 2021, the Isle of Man Government commissioned KPMG as strategic partners to assist with the development of a five to ten year economic strategy for the Island. They set out to deliver a five-phase report to develop a fundamental review and understanding of the Isle of Man’s current economy, looking at the wider global opportunities and threats, developing strategic direction and finally providing a monitoring and delivery framework. This report has informed and guided the Isle of Man Government’s overarching Economic Strategy.

In November 2022, Tynwald approved the Economic Strategy, an ambitious, wide-reaching 10-15 year strategy to build a secure, vibrant and sustainable future for the Isle of Man.

Economic Strategy Annual Report 2023

In December 2023 the Isle of Man Government published the first annual report for the Isle of Man’s Economic Strategy, indicating progress towards the 10-15 year vision to ensure the future security, sustainability and vibrancy of the economy.


The 2023 Annual Report provides an overarching view of the Isle of Man’s current economic indicators and early progress towards the long-term ambitions detailed in the Economic Strategy, alongside example initiatives which have been funded by the Economic Strategy Board throughout the year in support of these ambitions.


The Economic Strategy Annual Report 2023 will be presented to Tynwald at the January 2024 sitting and is publically available on the Tynwald Register of Business.

Isle of Man Government Draft Economic Strategy 2022

In 2021, the Isle of Man Government commissioned KPMG as strategic partners to assist with the development of a five to ten year economic strategy for the Island. They set out to deliver a five-phase report to develop a fundamental review and understanding of the Isle of Man’s current economy, looking at the wider global opportunities and threats, developing strategic direction and finally providing a monitoring and delivery framework. This report has informed and guided the Isle of Man Government’s overarching Economic Strategy. The ‘Our Island, Our Future: Draft Isle of Man Economic Strategy’ brings to life a clear vision to develop a strong and diverse economy, which is sustainable, ambitious and built on firm foundations to provide economic success, rewarding career opportunities and prosperity which positively impacts all residents on the Isle of Man.