The Outlook for OFCs

This final chapter considers two issues that arise from the preceding analysis: whether the Jersey example is relevant for other jurisdictions wishing to host an OFC; and the outlook for OFCs. As we saw in Chapter 4, many Caribbean islands are currently OFCs of one type or another. Other jurisdictions have considered establishing an OFC as a development strategy, but will hosting an offshore centre result in effective economic development for a small territory or is it an unrealistic option? In short, do the benefits of hosting an OFC outweigh the costs, and even if a jurisdiction establishes one, is there room on the global playing field for such new players? First, we focus specifically on hosting OFC activities and return to the Jersey case and ask whether others can copy this example, questioning whether the key factors are replicable by other territories. The analysis then shifts to the question of whether other places should copy Jersey. We then discuss the impact of hosting a functional OFC.