It may come as a surprise to many who know our streets aren’t paved with gold.
But the Isle of Man has been placed in the top 10 by the World Bank out of 214 international economies in terms of Gross National Income (GNI) per head of population.
We are listed in eighth place ahead of the UK and US and beaten only by top-placed Monaco, Liechtenstein, Bermuda, Norway, Switzerland, Qatar and Luxembourg.
And as the Examiner revealed last week, figures for gross domestic product show the Manx economy has outgrown that of Jersey for the first time.
However, the World Bank statistics are not a ranking of personal income, ie the wages in our pockets. And while the economy as a whole is showing strong growth, the domestic economy is struggling.
The strong economic performance has been underpinned by continued growth in a number of business sectors, including e-gaming and engineering.
But while e-gaming showed strong growth of 16.6 per cent in real terms, and engineering up 10.9 per cent, other sectors have fared far less well, with construction down 5 per cent and retailing down nearly 20 per cent.
Latest figures are for the year 2011-12, which show it was the 29th successive year of growth for the Manx economy.
Growth was actually lower than expected at 2 per cent in real terms. But indications are that the economy has grown again since then, with a 3 to 4 per cent increase forecast.
Our GDP - the sum of salaries and company profits - was £3.79bn in 2011-12, equating to a GDP per head of population of £44,600. This compares with £3.61bn (£36,700 per head) in Jersey and £2.01bn (£31,846) in Guernsey.
The World Bank Index also ranks the Isle of Man ahead of the Channel Islands which comes in at ninth position.
Chief Minister Allan Bell said people didn’t appreciate the astonishing success of the Manx economy over the last 30 years, our national income having been half that of the UK’s in the early 1980s.
He said: ‘This is extremely positive news and reflects the efforts made over many years to develop the Isle of Man economy. The success of our established industries and diversification into high-value emerging sectors has provided the resilience to weather the worst of the recent downturn.
‘Where the Isle of Man was once considered the poor relation of the three Crown Dependencies, it has continued to grow steadily to outperform both Jersey and Guernsey.’
He said the island is looking to build on these solid foundations by winning more business and jobs from countries across the globe, including China and the Middle East.
But sounding a note of caution, he said: ‘Against this positive backdrop is recognition that key parts of the domestic economy such as construction and retailing are still struggling.’