Household Income and Expenditure Survey 2013 – On and off Island spending analysis

| July 22, 2014 | 0 Comments

Following on from the publication of the Household Income and Expenditure Survey 2013 the Economic Affairs unit of the Cabinet Office has produced a breakdown of weekly household expenditure into spending that has occurred on the Isle of Man and that incurred off Island.

The voluntary survey was run for a year and collected data from over 900 households. The results will help to clarify the Island’s future share of VAT revenue under the Customs and Excise Agreement with the United Kingdom, and will also be used to update the Consumer Price Index (CPI) and Retail Price Index (RPI).

Off Island spending is defined as spending where the household indicated the item was purchased off island in the case of regular spending. Spending recorded in a 14-day diary kept by households was classified as off Island where either the household member indicated that either the item was brought and/or consumed outside of the Isle of Man, or where any goods or services were purchased over the internet.

Two exceptions apply to this categorisation: all Isle of Man Steam Packet Company travel was classified as on Island spending, regardless of whether it was purchased over the internet or in person and also all domestic air travel (UK,  excluding air travel to the Republic of Ireland) was classified as on Island.  International air travel and package holidays were classified as off-Island expenditure.

The results showed that:

Households spend 18% of their weekly expenditure on off Island goods and services.
Spending on recreation and culture (including holidays) showed the largest proportion of off Island spend, with 50% of all spending in this category being classified as off Island.

This document can be downloaded along with the original full report and a copy of the survey forms from the Isle of Man Government website (http://www.gov.im/about-the-government/offices/cabinet-office/economic-affairs-division/).

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Category: Events, Finance & Business

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