Editorial

The contents of this Handbook have always mirrored the progress of Gibraltar´s Finance Centre and its concomitant activities.

During the past year the Rock commenced a second phase of physical expansion, driven by the need for more office, commercial and domestic footage. As a result the Handbook highlights those organisations which are associated with such expansion.

For the first time a Property Development section is included showing the extent and size of this thriving real estate market. This is especially necessary in view of the easing of restrictions at the frontier, the flights to Madrid and the liberation of telecommunications, European Union money is underpinning air, land and maritime infrastructural projects in Gibraltar, Spain and Morocco.

The Handbook welcomes the fact that "overall global financial conditions are still very supportive of growth, and global growth, particularly in emerging market countries is strong". Apart from China, India is the second fastest growing economy with 9.1% growth in the first quarter of 2007. Gibraltar with its well established Hindu community is well placed to benefit from some of the financial activities this wealth engenders; hopefully the newly opened Gibraltar Stock Exchange will attract a small part of the 16% direct flow of investment that now goes through London, as well as other inflows.

I would like to thank all those in the Finance Centre who over the years have supported with information and advertising the production of the Handbook and would wish them success in 2008.

Dr. D.M. Sloma
Managing Editor
November 2007