Guernsey's chief minister says another global economic crisis and the damage it could do the island is his greatest fear for 2011.
Deputy Lyndon Trott said another event, similar to the credit crisis, may put even more focus on to the island.
He said: "It could distract us from being able to deal with our, if you like, day-to-day business.
"Instead we may have to increase our international efforts to break down the misconceptions that exist."
Previously Deputy Trott has said common misconceptions include the island being thought of as part of the UK to it being thought of as a "tax haven", with the connotations the name brings.