Major tourist development planned for Gibraltar
According to the leading article published in this morning's edition of Spanish newspaper La Razon under the headline "Gibraltar, from tax haven to real estate business", the governing authorities in Gibraltar aim to convert the rock into a major tourist destination.
The paper claims that British architect Norman Foster has designed a macro marina project with 500 berths for yachts and cruisers of all sizes, hotels, leisure complexes with cinemas, a museum and a shopping center, and 15 buildings including 4 high-rise apartment blocks the largest of which has 26 floors.
La Razon (one of Spain's right-wing papers, never known to mince its words) writes "Peter Caruana (Chief Minister in Gibraltar) intends to leave a pharaonic proyect as his legacy to the colony so that he will be remembered by future generations".
According to the paper which claims to have seen the plans of the project, the size of the complex is 308,000 sq. metres and its cost is 2,500 million euros.
If the story is true, there will be much protest in Spain where political and business leaders are fiercely critical of the the fiscal status of Gibraltar where the VAT tax is still not applied. Such are the tax advantages of having a business in Gibraltar that there are more offshore companies registered on the rock than inhabitants.
Meanwhile, tourism is a key sector of the Spanish economy, especially in southern Spain, and Gibraltar is located right in the middle of the Costa del Sol, one of Spain's most popular tourist destinations. The marina project in Gibraltar will be seen as unfair competition by the Spanish tourism industry and is bound to become yet another divisive issue be be included in the agenda of future meetings planned between Britain, Spain and Gibraltar.
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The paper claims that British architect Norman Foster has designed a macro marina project with 500 berths for yachts and cruisers of all sizes, hotels, leisure complexes with cinemas, a museum and a shopping center, and 15 buildings including 4 high-rise apartment blocks the largest of which has 26 floors.
La Razon (one of Spain's right-wing papers, never known to mince its words) writes "Peter Caruana (Chief Minister in Gibraltar) intends to leave a pharaonic proyect as his legacy to the colony so that he will be remembered by future generations".
According to the paper which claims to have seen the plans of the project, the size of the complex is 308,000 sq. metres and its cost is 2,500 million euros.
If the story is true, there will be much protest in Spain where political and business leaders are fiercely critical of the the fiscal status of Gibraltar where the VAT tax is still not applied. Such are the tax advantages of having a business in Gibraltar that there are more offshore companies registered on the rock than inhabitants.
Meanwhile, tourism is a key sector of the Spanish economy, especially in southern Spain, and Gibraltar is located right in the middle of the Costa del Sol, one of Spain's most popular tourist destinations. The marina project in Gibraltar will be seen as unfair competition by the Spanish tourism industry and is bound to become yet another divisive issue be be included in the agenda of future meetings planned between Britain, Spain and Gibraltar.
Related entries
The future of Gibraltar
British nuclear submarine in Gibraltar
Gibraltans vote in European elections
6 Comments:
The project was announced months ago. The plans are in the public domain.
This is a private consortium behind this, not Peter Caruana.
Mr Caruana by the way is the Chief Minister of the Gibraltar government, not the Govenor. The govenor is currently Sir Francis Richards, he is the representative of the head of state (The Queen).
Why should Gibraltar apply VAT? What about the Canary Islands, Ceuta and Melilla in Spain? Why do they not apply VAT? - they are apparently 'integral to the spanish state'.
Gibraltar is outside the customs union, as such import and export duty is charged on all movements of goods between such countries and Gibraltar.
If gibraltar charged VAT, all that would happen is a loss of revenue to the spanish exchequer.
Gibraltar already has marinas, so does spain, both are building new ones. This project had a press launch months ago, it's in the public domain.
- This must go down as one of the most innaccurate non-stories ever!
Surely the fact that the story in La Razon carried so many inaccuracies yesterday is the news story in this case? Not the project itself.
I read La Razon story yesterday (only because someone left a copy on the train - I would never pay money for it) and this blog is a true reflection of what was published for thousands of Spanish readers to read.
La Razon is a very biased paper unlikely to approve of anything the British do in Gibraltar or the present Government does in Spain. But is also very popular - the 4th biggest newspaper I think, but I'm not sure. It may be 3rd or 5th.
I have a holiday home near Gibraltar, and I think it's important for us to be aware of what is printed in Spanish papers. I was aware of the marina project too, but most Spaniards weren't and La Razon yesterday gave their story the status of a leading scoop. It was their main headline and inside there were two extensive articles with pictures and photos. They even criticised the fact that Norman Foster had designed the project, implying that British governments tended to treat him with favouritism.
You should direct your criticism at their editors.
Errrr. Gibraltar is at the southern most tip of the costa del sol not in the middle.(this being the least of a host inacurate "facts" already covered by another posting).
Errrr, no you are the wrong. La Costa del Sol does not finish at Gibraltar at all. Once you get down to Gibraltar and start going north again, the Costa del Sol continues, all the way up to Cadiz. Gibraltar is in the center. Because of your arrogant tone, you probably live in Gibraltar and think the world starts and ends in the rock.
Mario.
Well, mate, actually...........the one who said "la costa del sol " ends at gibraltar is almoust wrong...as it stops at Tarifa...,from Tarifa up north is The Costa de la Luz, which ends at Algarve(portugal).
Best regards and Viva Gibraltar, sea británico, Español o Independiente, me encanta!
Bravo Gibraltar ! Set a new standard for development in Gibraltar that is higher than anywhere on La Costa. Bravo !
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