Presently, more than thirty per cent of the world's working population is unemployed. Additionally, the world's population is increasingly expecting higher standards of living and improved work opportunities.

These radically changing patterns in expectations, population and wealth will continue to create political and economic instabilities. Governments in both the developed and the developing world will have no option but to continue to levy high taxes to meet these expectations and the associated costs of providing new and improved infrastructure.

Thus the offshore industry will continue with its rapid development and growth.

The following political and economic trends will influence the development of the offshore industry, not only in Europe but world-wide:

• The spectacular growth in South East Asia.
• The after-effects of the collapse of the Soviet Union.
• The emergence of South America, India and China as economic power houses.
• Volatility in currency markets.

South East Asia is becoming the world's paramount market, not only for consumer goods but also for financial services.

The users of International Financial Service Centers are becoming increasingly demanding. They expect high quality service at a reasonable cost, and access to sophisticated investment services - as well as confidentiality.

Tomorrow's offshore users will be looking for International Financial Service Centers that can compete with today's onshore financial centers in the areas of regulation, communications, specialization, credibility, infrastructure, stability, expertise and flexibility.