The Economic Recovery Group has announced a new incentive which will encourage spending within the domestic economy, and provide more than £0.55 million in direct consumer-based incentives to Isle of Man based businesses.
The LoveIOM Gift Card will be launched in the ‘shoulder season’, which typically sees a decline in footfall within some domestic facing sectors. The gift card, aimed at both residents and those visiting the Island, will be similar to a high street gift card, but it can be used island wide in a range of businesses and will promote the benefits of spending within the local Economy.
Government will also have the ability to deliver targeted support to sectors that require additional stimulation through bonus incentives. To celebrate the launch of the LoveIOM Gift Card a limited number of cards will be available to purchase with additional credit from Government, providing consumers with greater value for their money.
£0.5 million funding is earmarked specifically for a hospitality campaign to encourage diners to eat out mid-week in the autumn months. Further details will follow once the project is officially launched this September.
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