Social links vital for Guernsey economy

A new report has highlighted the importance of social links and relationships in ensuring the continued economic health of Guernsey.

The study, published by the island's Institute of Directors (IoD) looked at how these links, known as social capital, are helping the economy and what can be done to make them stronger.

The report found Guernsey's social capital is strong due in part to a "deep sense of connection" among islanders.

However, researchers said more needs to be done to address inequality and social isolation.

The project defined social capital as "the networks, relationships within a business and community that enable collective action, cooperation and support for achieving shared goals."

Research took place in Guernsey over the summer and involved surveys and interviews with islanders of all ages.

"The report reveals Guernsey has exceptionally strong social capital, characterised by strong social trust, community solidarity, and a deep sense of connection among its residents," said the report's author Tristian Claridge.

"However, there is a widespread perception that not enough is being done to address Guernsey’s evolving challenges," he added.

"The most significant being inequality, distrust, social isolation, individualism, polarisation and social and generational divides."

"Fortunately, Guernsey is well-placed to tackle these issues," Mr Claridge said.

Glen Tonks, IoD Chair said, “This world-leading report is not merely an academic exercise but a practical guide for stakeholders in Guernsey. "

"The insights provided here are intended to inform and inspire actions that will strengthen Guernsey’s social capital. and position the island for continued success in an increasingly complex and interconnected world.”

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