Gibraltar

Gibraltar
Overseas Territory of the ‌United Kingdom


Motto Nulli Expugnabilis Hosti Conquerable by no enemy
Anthem Gibraltar Anthem God Save the Queen


Capital	Gibraltar

Government	British Overseas Territory
Head of state
- From 1952	Elizabeth II
Governor
- From 2009	Adrian Johns
Chief Minister
- From 1996	Peter Caruana

Legislature	Parliament

History
- August 4, 1704	Captured
- July 13, 1713	Treaty of Utrecht

Area	6.8 km²

Population
- 2009	29,431
Density	4,328/km²

GDP	2009 (PPP)
- Total	US$ 0.8 billion
- Per capita	US$ 27,468

Currency	Pound Sterling

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Gibraltar is an Overseas Territory of the United Kingdom on the Iberian peninsula.

Background

Strategically important, Gibraltar was reluctantly ceded to Great Britain by Spain in the 1713 Treaty of Utrecht; the British garrison was formally declared a colony in 1830. In a referendum held in 1967, Gibraltarians voted overwhelmingly to remain a British dependency. The subsequent granting of autonomy in 1969 by the UK led to Spain closing the border and severing all communication links. A series of talks were held by the UK and Spain between 1997 and 2002 on establishing temporary joint sovereignty over Gibraltar. In response to these talks, the Gibraltar Government called a referendum in late 2002 in which the majority of citizens voted overwhelmingly against any sharing of sovereignty with Spain. Since late 2004, tripartite talks among Spain, the UK, and Gibraltar have been held with the aim of cooperatively resolving problems that affect the local population, and work continues on cooperation agreements in areas such as taxation and financial services; communications and maritime security; policy, legal and customs services; environmental protection; and education and visa services. Throughout 2009, a dispute over Gibraltar's claim to territorial waters extending out three miles gave rise to periodic non-violent maritime confrontations between Spanish and UK naval patrols. A new noncolonial constitution came into effect in 2007, and the European Court of First Instance recognized Gibraltar's right to regulate its own tax regime in December 2008, but the UK retains responsibility for defense, foreign relations, internal security, and financial stability.^[1]

Economy

Self-sufficient Gibraltar benefits from an extensive shipping trade, offshore banking, and its position as an international conference center. Tax rates are low to attract foreign investment. The British military presence has been sharply reduced and now contributes about 7% to the local economy, compared with 60% in 1984. The financial sector, tourism (almost 5 million visitors in 1998), gaming revenues, shipping services fees, and duties on consumer goods also generate revenue. The financial sector, tourism, and the shipping sector contribute 30%, 30%, and 25%, respectively, of GDP. Telecommunications, e-commerce, and e-gaming account for the remaining 15%. In recent years, Gibraltar has seen major structural change from a public to a private sector economy, but changes in government spending still have a major impact on the level of employment.^[2]