Cayman Islands Profile, Overview and Tourist Information

Cayman Islands

Cayman Islands: Financial Hub and Tourist Hotspot

The Cayman Islands that comprise the Grand Cayman, Little Cayman and Cayman Brac are a popular tax haven with more number of registered companies than people, living on the islands. These islands were earlier part of Jamaica from whom they seceded in 1962 and are now part of British Overseas Territory. The Cayman Islands also are infamous for being the most hurricane-prone islands in the Caribbean Sea. But this has in no way diminished the popularity of the Cayman Islands as a popular vacation destination among the wealthy tourists who travel to Cayman Islands frequently.

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Geographical Info on Cayman Islands:
The Cayman Islands are part of an underwater ridge, known as the Cayman Trench and all the three islands of Grand Cayman, Cayman Brac and Little Cayman are located close to Cuba, little father from Jamaica and 650 km from Miami. Out of the trio the Grand Cayman is far the largest and home to the capital, George Town. The Island is hurricane-prone and Hurricane Ivan struck in 2004, which was the most devastating to strike Cayman Islands in 86 years.

Culture and Demographics of Cayman Islands:
The 52,000 inhabitants of the Cayman Islands represent a mind-boggling mix of over 100 nationalities! This is largely due the Cayman Islands distinction as the biggest financial hub in the Caribbean. Although most Caymanians are exclusively Christians there are also a large proportion of Presbyterian and Catholic population.

Economy and Financial Services Profile of Cayman Islands:
Having one of the lowest tax rates (it has no direct taxes) has made Cayman Islands a popular financial Services Centre, which is attested from the fact that more than 6,000 funds, nearly 100 banks and thousands of companies operate from out of these islands that even exceeds its population. These financial institutions include the likes of UBS and Goldman Sachs. All this has resulted in high affluency among the Caymanians with average income of around $42,000 and GDP that is 12th highest in the world. The islands although a part of the British Overseas territory even print their own currency.

Tourism, Vacations, Seven Mile Beach, Turtles, Travel in Cayman Islands:
Tourism is the mainstay of Cayman Islands and generates about 70-75% of its GDP, however out of the Grand Cayman, Brac Cayman and the Little Cayman, the Grand Cayman attracts more than 90% of the tourists. Most visitors travel to the Grand Cayman Island to soak in the sun and surf on the world famous Seven Mile Beach, which is also one of the world’s best beaches. Tourists can also indulge in Scuba Diving, swim with Sting Rays or visit the National Museum and National Art Gallery. Divers may particularly find two shipwrecks interesting off the shores of Cayman Brac that includes the MV Keith Tibbetts.

Tourists may also travel to the Grand Cayman Island to see the lovely Cayman Turtle Farm on the Boatswain’s Beach or go hiking through the forests. There is also an old lighthouse on Cayman Brac whereas Birdwatchers will find the Red-footed Booby very interesting on the Little Cayman Island.

The top Attractions in the Cayman Islands include:

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