Guernsey's economic heritage is long and varied. The Island's strategic position between England and France has
meant that it has a long military heritage which in itself has brought income into the Island and led to the creation of much
of the infrastructure we take for granted today.
Many of the major roads on the Island were built to allow for the movement of troops and the fact that the Island is
one land mass in itself is a creation of military expediancy as the filling of the Braye was constituted necessary to
enable the direct movement of troops quickly and easily to the North of the Island.
The building works led to the creation of a quarrying industry which culminated in the export of granite to the UK and
beyond. The Island still quarries granite from a single works but in its heyday 268 quarries were actively being worked, most
in the north of the Island.
Prior to that a substantial boat building industry was established on the Island with Guernsey made ships sailing the
globe in pursuit of wealth. The mast at the bottom of St Julians Avenue is modelled on a mast from a Guernsey built vessel
and pays testimony to our ship building heritage. Guernsey still makes boats but now they are of the leisure variety.
As the era of sail gave way to ships of iron and steam the boatbuilders turned their skills to the building of greenhouse.
These "vineries" initially were designed for the growing of grapes but over the best part of a century turned into the home
of the famous Guernsey tomato and then to the production of flowers - which still goes on today.
Alongside growing, a small but incredibly advanced Electronics Manufacturing Industry was also established. That still
continues today, alongside plastics, pharmaceuticals and the growing Mail Order, fulfilment and Franchise sector.
Tourism had become established in the late 1800's as the
various steam powered vessels raced to deliver their "trippers" to the Islands. That Industry has continued ever since
and despite the decline in available beds still forms an important part of the local economy, helping to keep the vitally
important boats and planes flying back and forth to the Island.
As the tomato Industry began its decline a small but promising Industry began to grow which would eventually dominate
the Guernsey economy as we know it today. That Industry is collectively known as Finance. Based on Banking,
Insurance, Funds and Trusts, the sector now accounts for about 70% of the Islands GDP.
The Finance Industry has changed the landscape of the Island and brought much needed income to Guernsey.
This mix of Finance and Tourism, with several large companies in the Mail Order, Fulfilment and Franchise sectors
is driving the Island forward into the 21st century.
