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On Friday October 1st, EnergyFM reported:

A new business report shows while retail and hospitality is “still depressed”, the broader economy is “turning a corner”.

The statement comes from a new report into the island’s economy which also found that most sectors are hopeful for increased turnover in the coming year.

IoM businesses “turning a corner”

Also on Friday, taxes were increased on hospitality businesses on the Isle of Man (and the United Kingdom).

Increasing taxes on hospitality will harm businesses, workers and customers across the Isle of Man – hardly the cure for an industry which is “still depressed”.

The underlying KPMG report is available online here.