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Caricom Associate Members3 

Cayman Islands 

Caricom Associate Members3 - Cayman Islands' Motto is  "He Hath Founded it Upon the Seas"

Location: Caribbean, three-island group (Grand Cayman, Cayman Brac, Little Cayman) in the Caribbean Sea, 240 km south of Cuba and 268 km northwest of Jamaica

Brief History

The Cayman Islands were colonized from Jamaica by the British during the 18th and 19th centuries and were administered by Jamaica from 1863.   In 1959 the islands became a territory within the Federation of the West Indies, but when the Federation dissolved in 1962, the Cayman Islands chose to remain a British dependency.

Economic summary

With no direct taxation, the islands are a thriving offshore financial centre. With no direct taxation, the islands are a thriving offshore financial center. Some 83,532 companies were registered in the Cayman Islands as of 2006. As of March 2008, there were 9,681 Mutual Funds, 788 insurers, and 277 banks. A stock exchange was opened in 1997.

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 Tourism is also a mainstay, accounting for about 35 % of GDP but this figure is based on estimates. The tourist industry is aimed at the luxury market and caters mainly to visitors from North America. Total tourist arrivals exceeded 2.0 million by year-end 2008, with some 79.6 of stay-over arrivals coming from the US.

About 90% of the islands' food and consumer goods must be imported. Caymanians enjoy one of the highest outputs per capita and one of the highest standards of living in the world. 

Airports: Grand Cayman Airport - Owen Roberts International Airport 

Cayman Brac Airport - Gerard Smith Airport 

Little Cayman Airport - Edward Bodden Airport

Thomson Flights

Status: Overseas Territory of the United Kingdom

Capital: George Town (on Grand Cayman)

Area: 122.23 sq km (75.97 sq mls)

Population: 55,456 (2010)

Currency: Cayman dollar (KYD)

Business Hours

Business Hours: Commercial: 8:00 a.m. to 5:00 p.m. Monday to Saturday;

Government: 8:00 a.m. to 5:00 p.m. Monday to Friday

National Holidays

New Years Day (01 January); National Heroes Day (Fourth Monday in January); Ash Wednesday, Good Friday,; Easter Monday,; Queens Official Birthday (mid June); Constitution Day (first Monday in July); Remembrance Day (10 November, 2008); Christmas Day (25 December); Boxing Day (26 December)

Favourite Dish: Turtle Stew

Government website: http://www.gov.ky

Source: Courtesy of caricum.org

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