Interview with Mr. Murray Norton, CEO of Chamber of Commerce of Jersey

June 9, 2025
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How would you characterize Jersey’s current economic landscape and what makes the island an attractive base for international business and investment?

Jersey is predominantly an island whose economy is heavily influenced by its financial services sector. To put it in perspective, financial services make up about 50% of all income into Jersey. Yet, that industry only employs around 20% of the working population, about 12,000 people. That really shows the scale and impact the sector has on the island.

It’s also important to highlight Jersey’s political stability. We operate under a ‘Westminster system’ of government, with 49 elected politicians who make policy tailored specifically to and for Jersey. That provides flexibility and an opportunity for nimbleness. For investors and businesses looking for a safe and very politically stable location in the uncertain times we see globally, Jersey is a very good option.

Jersey’s close financial and cultural ties to major centres like London, New York, and Dubai also make it highly connected. We use sterling, which further connects us to the UK’s financial system. For our size, we really do punch above our weight internationally.

But it’s not all about finance. The island has a rich heritage in agriculture, Jersey milk and the Jersey Royal potato are internationally recognized brands. Our tourism industry dates back to the Victorian era, with beautiful beaches, clean seas, and a vibrant hospitality sector that continues to draw visitors.

The combination of political stability, financial strength, international connectivity, and natural beauty makes Jersey a fantastic place both to live and to invest. And with world-class seafood, a great café culture, and high-quality local products, it’s an attractive destination for business and lifestyle alike.

Can you tell us more about the role of the Jersey Chamber of Commerce in supporting local business and shaping the broader economic strategy of the island?

The Jersey Chamber of Commerce is one of the oldest chambers in the world, dating back to 1768. In fact, it’s the oldest English-speaking chamber globally, founded just a short distance from where we’re sitting today.

The Chamber’s history is intertwined with Jersey’s economic development. Originally established by the maritime industry, which was central to trade and transport, the Chamber quickly evolved to represent all aspects of business life on the island. From the very beginning, we’ve played a dual role, both supporting and challenging government, acting as what you might call a ‘critical friend.’

Today, our membership covers more than half of Jersey’s working population, with 600 businesses employing around 35,000 people. Our influence stretches across every sector, from financial services and tourism to agriculture and construction.

We have a very direct line to government; ministers regularly consult with us when developing policy, and we provide practical feedback to help ensure policies are robust and workable. Because Jersey is such a compact community, nine miles by five, it’s very accessible. It’s easy for us to meet the Chief Minister, the Treasury Minister, or other officials, sometimes multiple times a day, to discuss issues ranging from ferry services to tourism to finance.

Our goal is to ensure all sectors have a voice. Government comes to us when it wants to ‘kick the tires’ on a new initiative, and we’re in constant dialogue to make sure the business community’s needs are represented and understood.

Is diversifying Jersey’s economy one of the Chamber’s missions? How do you balance support for both large and small industries?

Diversification is essential. Jersey’s economy is an ecosystem; while it’s fantastic to have such a strong financial services sector, you need a broad range of industries to make an island thrive. Attracting top talent for finance, for example, means we also need great restaurants, excellent education, high-quality homes, and a vibrant cultural scene.

No one would relocate here for work if we didn’t have the lifestyle factors, the beaches, schools, cafés, that make Jersey special. Each sector supports the others, so we have to encourage the survival and growth of smaller industries alongside our larger players. Even within finance, we’ve seen a shift over time from banking to more investment, trust, and fintech activities, so even our major sectors are diversifying.

As a Chamber, we work to make sure government policy supports the whole economic ecosystem, and that small businesses and start-ups can flourish as part of Jersey’s future.

What initiatives are in place to strengthen Jersey’s ties with international markets, especially with the US and Europe?

Building and maintaining international connections is a top priority. Jersey Finance recognized the importance of global outreach some time ago, opening offices not just in London and Europe but also in New York, Dubai, and Shanghai. Having boots on the ground in these key markets means we can promote Jersey directly to investors and partners.

The US is especially important, if you look at global wealth distribution, the US has more billionaires and millionaires than any other country by a significant margin. That’s a market Jersey is well positioned to serve, given our reputation for financial security, political stability, and transparency.

The Chamber supports these international efforts by encouraging best practices, championing high standards, and fostering trust in Jersey’s business environment. We want people around the world to see Jersey not as a hidden backwater, but as a world-class, internationally recognized financial centre.

What opportunities do you see for Jersey businesses to embrace innovation and digital transformation? How is the Chamber encouraging this evolution?

Innovation is absolutely key for Jersey’s continued competitiveness. We were very supportive when the government established Digital Jersey, our tech business hub, about twenty years ago. Digital Jersey has helped foster a community of tech businesses and drive digital transformation across sectors.

One of the best investments the island made was the rollout of full fibre broadband to every home and office. Today, we have 100% coverage with some of the fastest broadband speeds in the world. That’s critical, not only for finance but for every business operating here.

Looking forward, there’s excitement about the rollout of 5G and further developments in infrastructure, including renewable energy like offshore wind farms and major investments in public spaces, waterfront areas, and sports facilities. All of these projects make Jersey a more dynamic place to live and do business.

The Chamber works closely with both government and industry to keep Jersey at the cutting edge and ensure the benefits of digital innovation are felt across all sectors.

You mentioned it’s difficult to bring in or retain skilled talent. What is the Chamber doing to address this challenge?

Talent attraction and retention is always a challenge for a small island, particularly when space is limited and housing costs are high. While Jersey is very much open for business, we know that relocating here is a significant decision. That means we need to provide not only high-quality jobs, but also great homes, education, transport, and lifestyle options.

Fortunately, we have excellent air and sea links, regular flights to London and other UK cities, and strong shipping routes. Policy-wise, it’s important we keep working with government to ensure that people who move here can settle, build their lives, and see a future for themselves and their families.

The Chamber advocates for policies that keep Jersey competitive, whether that’s more housing, better schools, or improved connectivity. Like many places, Jersey is also facing demographic shifts, with an aging population and fewer young people entering the workforce. Planning for that is a key part of our work.

Maybe a final message to Newsweek readers considering Jersey as a destination for business or leisure. What would you tell them?

Jersey is incredibly accessible, it’s just a 45-minute flight from London, and once you’re here you’ll find an island that combines natural beauty with world-class business opportunities. The beaches, the seafood, the friendly community, these are just the beginning.

But Jersey is also a serious, stable, and innovative place to do business, invest, or set up home. Our history is matched by our forward-looking approach, and I think there are a myriad of good reasons for anyone who considers visiting, relocating or investing here.