A recent survey conducted by Island Global Research (IGR) reveals that more than 80% of households in Guernsey and Jersey are feeling the strain of increasing living costs. The study indicates that 10% of respondents in Jersey and 7% in Guernsey struggle to cover their essential expenses, often having to forgo basic necessities.
The findings are based on an online questionnaire completed by 2,660 residents, including 672 from Jersey, 744 from Guernsey, 1,013 from the Isle of Man, and 231 from Gibraltar. The survey explored participants’ financial situations, recent changes in expenditures, and their views on inequality in living standards both currently and in the future.
Key Insights from the Channel Islands Survey
- In Jersey, 49% of respondents reported challenges in managing their living expenses over the past year.
- A significant 88% of those surveyed in Jersey and 86% in Guernsey acknowledged that the rising cost of living is affecting their households.
- In Jersey, 36% of participants found it difficult to afford food, marking a six-point increase since the 2022 survey.
- In Guernsey, 37% reported difficulties in covering home maintenance costs, which reflects a 10-point rise compared to last year.
- Notably, 13% of Jersey respondents indicated they could not manage an unforeseen necessary expense of £100.
- Approximately one-third of respondents in Jersey expressed extreme concern regarding the potential future impacts of cost of living changes on their households.
IGR noted that the survey findings indicate a consistent impact of living costs on a significant portion of the population. “We hope that the insights from this survey will empower our communities to make informed decisions, especially as concerns and uncertainties surrounding the future cost of living persist,” the organization stated.
