🇬🇮 Gibraltar

Gibraltar is a British Overseas Territory of 34,000 people on a 6.7-square-kilometer peninsula at the southern tip of Spain. The Rock of Gibraltar — a 426-meter limestone monolith — is one of the most recognizable landmarks in the Mediterranean. The territory controls the western entrance to the Mediterranean, making it one of the most strategically important locations in the world. Spain has claimed Gibraltar since Britain took it in 1704, and the border relationship has been complicated by Brexit. Gibraltar has one of the highest population densities in the world and has expanded its territory by about 10% through land reclamation.

Online gambling (Gibraltar licenses major operators like Bet365, 888, and William Hill), financial services, shipping, and tourism are the main sectors. The iGaming sector accounts for about 25% of GDP. Gibraltar's port is a major bunkering (ship refueling) hub. The territory has no VAT or sales tax, and corporate tax is 12.5%. About 15,000 workers commute daily from Spain, making the cross-border relationship economically critical. The Gibraltar pound is pegged to the British pound.

Gibraltar's Barbary macaques are the only wild monkey population in Europe — legend says that if the monkeys ever leave, the British will too. The Rock contains over 30 km of tunnels, mostly dug during WWII, that could shelter the entire population. Gibraltar's airport runway crosses the main road into Spain — traffic stops for planes, making it one of the most unusual airports in the world.

Gibraltar's post-Brexit relationship with Spain and the EU is the defining issue — a treaty is needed to maintain the cross-border worker flow that the economy depends on. The iGaming and financial services sectors are well-established, but the territory's future hinges on that border deal.