Governments are often warned against picking winners when it comes to backing business development, but the Isle of Man’s decision to focus on e-business as an industrial sector appears to be paying off in a big way.
A 2004 study identified e-business as one of the sectors with the most growth potential for the island over the next decade, concluding it could become the second largest after banking by 2014. Today growth in online business is running significantly ahead of projections, employing around 1,000 of the 42,000 workforce.
