But over the years, the number of tourists has declined, as has the price difference in alcohol because of rising import duties.
Now, with licensing liberation on the cards in the UK, it looks as if Jersey's own licensing laws will be seen as draconian and even restrictive.
Yet despite this, Jersey still has a high number of pubs more than 300 mostly of a high quality, with the vast majority offering food cooked on the premises.
For an island with a population of around 85,000, spread over 45 square miles, there are certainly enough outlets to go around.
Jersey's pub industry has undergone a radical overhaul in recent times, with two major pub chains selling off their businesses.
Bass unloaded its local pubs, nine in total, and Le Masurier also sold its 28 outlets.
This has left two major players in the island Randalls Vautier and Ann Street.
Randalls Vautier snapped up Le Masurier and Ann Street took over the Bass outlets.
There is also a fairly healthy community of free bars that provide plenty of competition.
Mike Tate of Jersey Tourism, comments: "Jersey differs from many UK resorts in that its pubs do not face the same sort of seasonal adjustments that many tourist resorts face.
It is probably more accurate to compare the market that Jersey pubs face to that of London than anywhere else.
The successful financial sector on the island helps flatten out seasonal distortions that resorts often face, and brings about a healthy demand throughout the year."
But there are still many issues facing the licensed trade in Jersey.
Problematic times There has been a high level of staff being poached, both within the trade itself and by other industries on the island, especially to the finance industry, which has suffered a skills shortage.
It is difficult for the pub industry to compete with the finance industry in terms of working conditions and wages, but this trend is now slowing.
David Le Quesne, Randalls Vautier's chief executive officer, comments: "Chefs are hard to attract at present and often act like prima donnas especially so since the rise in demand for them in the UK and Dublin."
There is also the problem of affordable and accessible accommodation.
Only people possessing residential qualifications can rent or buy.
Incomers to the island have to rely on shared accommodation, tied accommodation or lodging houses.
All types of accommodation are expensive, with property prices comparable to or slightly higher than those of London.
The duty on alcohol is becoming more and more important to Jersey's equivalent to the Treasury, the Finance and Economics Committee, in raising revenue.
Last year, further taxation on all alcoholic beverages lessened the margin between costs in Jersey and the UK.
Drink-driving is taken very seriously in Jersey.
Statistics show that islanders are twice as likely to be caught drink-driving than they are in the UK.
Public transport is not good and, as a result, many country pubs have seen a downturn in trade over the years many of which have closed.
Recently, Ann Street sold the Windmill, a largish country pub in the west of the island, to a jewellery designer to be converted into a tourist attraction.
Licensing in Jersey, once thought to be very liberal, has failed to keep up with the "revolution" in the UK.
How-ever, UK moves to relax licensing laws will be discussed by the Economic Development Com-mittee to see if they could be extended to the island.
High building costs The actual costs of building or refurbishment are around 20% higher than those of central London.
In addition, Ann Street and Randalls Vautier have found that planning permission for alterations is an extremely slow and laborious process, with plans often taking up to 18 months to be passed often with strict restrictions on what can be done.
Visions for the future Ann Street and Randalls Vautier's chief executives remain positive about the future.
Ann Street's Paul Smith says his pubco will continue to look at new business opportunities in the Channel Islands.
He also wants to open new Bluebeckers establishments in the Home Counties at a rate of around two to three a year.
It is also awaiting the decision in Guernsey on a tender to provide a casino and associated facilities this would be the first casino in the Channel Islands.
Smith doesn't think that the UK mainland's desire for theme pubs will catch on in Jersey.
"A large number of themed bars is not appropriate for the Channel Islands, we need a different, more continental influence.
There is room for one or two but certainly not every other bar.
We definitely have a different market with different expectations," says Smith.
Randalls Vautier's Le Quesne questioned whether the large UK-style attractions, which are currently in the process of opening on the island's new waterfront, would be successful as they were reliant on a constant, very high footfall.
He says: "Despite a change in lifestyles and trends over the past 30 years, disposable income that our customers have remains very much static.
The early opening for the World Cup demonstrated this, as there was a demand in the morning that was compensated for by a subsequent drop in demand later in the day."
Le Quesne thinks that Randalls Vautier will remain in private hands and feels the pubco isn't in any real danger of being taken over by mainland predators.
He says: "This would be a decision of the owners, although personally I doubt that a Punch or a Wetherspoon would require our complete estate my feeling is that they would like certain larger outlets on a cherry-picking basis.
I doubt that any owner would be happy to part with the cream of their estate.
"In relation to a flotation, again this would be a decision of the owners.
However, as head of the company, I can see no reason for our needing to float and more importantly subjecting oneself to the mercy of The City', which currently appears to be out of favour with pubcos and multiple operators.
In a nutshell: Stay private, stay sane'."
Randalls Vautier factfile History:
Randalls Vautier evolved out of a combination of two Jersey breweries, the Clare Street Brewery and the Minden Place Brewery, both dating back to the early 19th century.
Both were owned by Robert Randall during the late 19th century and eventually bought by the Hon Edward Greenall in the 1960s.
During the past few years, wine and spirits merchants have been added, although the company no longer brews its own beers.
The company is in the process of modernising the Le Masurier pubs, which it bought recently, and putting more emphasis on food.
The pubs that have just been modernised have shown a marked upturn in lunchtime trade.
Owner:
Randalls remains a privately-held company owned by the widow of Edward Greenall.
Chief Executive: David Le Quesne joined Randalls in 1983 as a free-trade sales executive; he became CEO designate in 1998 and took over as CEO in 2000.
The Business: At present, the pubco has 60 outlets following the acquisition of the 28 units from Le Masurier.
The pubs, of which 17 are tenanted, vary from traditional working men's style outlets to food-driven destination houses, family-type houses and entertainment-led venues.
At present, the company is based solely in Jersey, although Le Quesne says: "We are always looking at expansion and the right opportunity that will deliver our required return.
"Although we have no immediate plans, we do eventually see ourselves moving into other islands and maybe the UK."
Ann Street factfile Owner:
Ann Street Brewery recently merged with a Channel Islands retail group, Le Riche Group, to form the London Stock Exchange-listed company CI Traders.
Chief Executive: Paul Smith is a qualified accountant.
He spent 15 years with JA Devenish, where he was group managing director for the last five years, and six years with Discovery Inns, where he was chairman and managing director.
He was appointed to the Ann Street board in September 1999 and made chief executive on 1 January 2001.
The Business: In Jersey Ann Street's 57 pubs comprise eating and drinking establishments, chameleon pubs, brasseries, family