About Gibraltar

     Gibraltar (IPA: /dʒɨˈbrɒltər/) is a British overseas territory located near the southernmost tip of the Iberian Peninsula overlooking the Strait of Gibraltar. The territory shares a border with Spain to the north. Gibraltar has historically been an important base for the British Armed Forces and is the site of a Royal Navy base.

     The name of the territory is derived from the Arabic name Jabal Tāriq (جبل طارق), meaning "mountain of Tariq", or from Gibel Tāriq, meaning "rock of Tariq". It refers to the geological formation, the Rock of Gibraltar, and the Berber Umayyad general Tariq ibn-Ziyad, who led the initial incursion into Iberia in advance of the main Moorish force in 711. Earlier, it was known as Mons Calpe, one of the Pillars of Hercules. Today, Gibraltar is known colloquially as Gib or The Rock.

    The sovereignty of Gibraltar is a major issue of contention in Anglo-Spanish relations. Spain requests the return of sovereignty, ceded by Spain in perpetuity in 1713 under the Treaty of Utrecht. The overwhelming majority of Gibraltarians strongly oppose this, along with any proposal of shared sovereignty.

     The British military traditionally dominated the economy of Gibraltar, with the naval dockyard providing the bulk of economic activity. This has however diminished in the last twenty years, and it is estimated to account for only 7% of the local economy, compared to over 60% in 1984. Today, Gibraltar has an extensive service-based economy, dominated by financial services and tourism.

     A number of British and international banks have operations based in Gibraltar. Recently, many bookmakers and online gaming operators have relocated to Gibraltar, to benefit from operating in a regulated jurisdiction with a favourable corporate tax regime. However, this corporate tax regime for non-resident controlled companies is due to be phased out by 2010.

     Tourism is also a significant industry. Gibraltar is a popular stop for cruise ships and attracts day visitors from resorts in Spain. The Rock is a popular tourist attraction, particularly among British tourists and residents in the southern coast of Spain. It is also a popular shopping destination, and all goods and services are VAT free. Many of the large British high street chains have branches in Gibraltar, including Marks and Spencer, BHS, Dorothy Perkins, and the supermarket Morrisons.

About Gibraltar

     Gibraltar (IPA: /dʒɨˈbrɒltər/) is a British overseas territory located near the southernmost tip of the Iberian Peninsula overlooking the Strait of Gibraltar. The territory shares a border with Spain to the north. Gibraltar has historically been an important base for the British Armed Forces and is the site of a Royal Navy base.

     The name of the territory is derived from the Arabic name Jabal Tāriq (جبل طارق), meaning "mountain of Tariq", or from Gibel Tāriq, meaning "rock of Tariq".  It refers to the geological formation, the Rock of Gibraltar, and the Berber Umayyad general Tariq ibn-Ziyad, who led the initial incursion into Iberia in advance of the main Moorish force in 711. Earlier, it was known as Mons Calpe, one of the Pillars of Hercules. Today, Gibraltar is known colloquially as Gib or The Rock.

     The sovereignty of Gibraltar is a major issue of contention in Anglo-Spanish relations. Spain requests the return of sovereignty, ceded by Spain in perpetuity in 1713 under the Treaty of Utrecht. The overwhelming majority of Gibraltarians strongly oppose this, along with any proposal of shared sovereignty