The Institute of Directors (IoD) Guernsey has released a groundbreaking report on Guernsey’s social capital, detailing its impact on the island’s economic, business and community wellbeing.
The findings of this global first research project were released on 3 October at the IoD Convention, titled "Social Capital: The Key to Economic Growth and Social Wellbeing in Guernsey.” Social capital refers to the networks, relationships, and norms within a business and community that enable collective action and facilitate cooperation and mutual support for achieving shared goals. The report provides a broad examination of social capital in Guernsey, assessing its strengths, identifying its vulnerabilities, and exploring the potential risks and opportunities that lie ahead.
The report was compiled by Tristan Claridge, Director of the Institute of Social Capital, following an extensive research phase which took place on island from June to September this year. This included qualitative aspects such as in-depth interviews with participants from across a range of ages and demographics, and quantitative data collection through a wider survey.
It provides a detailed analysis of Guernsey’s social capital with overarching findings shedding light on the strong sense of community solidarity, identity and interpersonal trust that have long been the bedrock of Guernsey’s societal strength and resilience. The report also tackles a number of themes which if left unchecked could undermine the island’s prospects.
Glen Tonks, IoD Chair said, “This world-leading report is not merely an academic exercise but a practical guide for stakeholders in Guernsey. Whether you are a policymaker, business leader, community organiser, or resident, 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.”
Mr Tonks continued, “Guernsey’s tradition of self-reliance and profound sense of belonging has long been its strength, but we must not take this for granted. Equally, we must be bold and acknowledge the aspects of our culture that are in danger of holding us back. Critically, the report places Guernsey’s social capital in the context of wider global challenges, such as climate change, ageing populations, technological shifts, and the influence of social media. By addressing these factors proactively, the island can maintain its unique identity while adapting to the demands of a rapidly evolving and complex world.”
Tristian Claridge commented, “Social capital is crucial to economic and social wellbeing because it represents the foundation of trust, cooperation, and collective action within a community.
“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. However, there is a widespread perception that not enough is being done to address Guernsey’s evolving challenges. The most significant being inequality, distrust, social isolation, individualism, polarisation and social and generational divides.
“Fortunately, Guernsey is well-placed to tackle these issues. The island's ability to adapt and reinvent itself, coupled with the strong collective identity of its residents, suggests that with the right efforts to address the existing challenges, Guernsey's social capital can be strengthened and better utilised to enhance the overall wellbeing of its community.”
Key findings from the report include:
Strengths: Guernsey’s social capital is distinguished by high levels of interpersonal trust, community solidarity, and a strong sense of belonging. This cohesive social fabric has been instrumental in maintaining a high quality of life and fostering a resilient society.
Challenges: The report identifies growing social divides along generational and socioeconomic lines, rising inequality, social isolation, and declining trust in local institutions. These factors, if left unaddressed, threaten to undermine the island’s social cohesion and lead to both social and economic stagnation.
Threats: A trend towards pessimism and negative viewpoints, perpetuated by social media, which can undermine the traditionally strong social bonds found in Guernsey and lead to stagnation. Rising living costs and a rapidly changing world in which people confront issues such as climate change, also create divides along generational and socioeconomic lines.
Opportunities: The report offers real-world recommendations for enhancing Guernsey’s social capital. These include supporting intergenerational dialogue, promoting volunteerism, improving access to social spaces, and ensuring institutional transparency and responsiveness.
A significant aim of the report is to provide practical, actionable steps for preserving and enhancing Guernsey’s social capital, urging policymakers, business leaders, and the wider community to come together to build a more inclusive and cohesive society. Among the recommendations are encouraging cross-generational and cultural dialogue to bridge social divides, promoting volunteerism to foster stronger community bonds, ensuring institutional transparency to rebuild trust and addressing rising inequality to safeguard social cohesion.
The full report can be found below.