Introduction
Cayman islands as the name suggests is an island that is just the way that islands
are described They are beautiful full of greenery and life. They are the best
place if you want to celebrate your freedom from the boredom that one experiences
in the city life that gets the better out of you and demands a secluded and
peaceful place. It's hard to resist getting in the ocean in the Cayman Islands.
The water is warm, clear and often calm.The beaches will just take your breadth
away and take you to another world apart from the present one. The submarine
scenery is among the best in the Caribbean. And frankly, there's not too much
to hold your attention on shore but a lot to enjoy and explore.
Business and Economy
It is a surprise when you see the business and economy of the Cayman islands
and it is a proud feeling amongst the folks of Cayman when they say that they
are financially sound and are doing good. Though it may be a small island they
are quite good at what they do economically.With no direct taxation, the islands
are a thriving offshore financial center. More than 40,000 companies were registered
in the Cayman Islands as of 1998, including almost 600 banks and trust companies;
banking assets exceed $500 billion. Isn’t that a good figure to start off
with A stock exchange was opened in 1997. Tourism is also a great contributor
apart from the rest of the things. It accounts for about 70% of GDP and 75%
of foreign currency earnings.
Major Cities
The major cities in the Cayman islands are very few though there are a number
of small cities that form the country as an island but the ones that are worth
traveling to and exploring are quite a few and the tourism industry has given
them a boost by beautifying them and making them quite popular so as to make
their visitors enjoy and be satisfied.However there are four major cities in
Cayman islands and they are Little cayman, Grand Cayman island , George town
, Cayman Brac.
Fact Sheet
Population: 43,103 (July 2005e)
Capital George Town
Pop. Growth Rate: 2.71% (July 2005)
Total Area: 260 km2
Currency: C$1= 0.63 CI $ (average 2005)
Language: English (official)
Literacy: 98% (98%M/98%F)
Life Expectancy: 79: 76M/81F
National Holiday: First Monday in July (Constitution Day)
GDP: C$2.6 billion (2002)
Real GDP Growth Rate: 1.74% (2002)
GDP per Capita: C$49,000 (2003 est)
Inflation Rate: 2.8% (2003)
Unemployment Rate: 4.1% (2002 est)
Total External Debt: $76 mn (latest available figures)
