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macrohistory & world report

Cayman Islands

Location of Cayman Islands

Location of Cayman Islands

World Factbook as of Novembwer 2014: "With no direct taxation, the islands are a thriving offshore financial center. More than 93,000 companies were registered in the Cayman Islands as of 2008, including almost 300 banks, 800 insurers, and 10,000 mutual funds. A stock exchange was opened in 1997. Tourism is also a mainstay, accounting for about 70% of GDP and 75% of foreign currency earnings. The tourist industry is aimed at the luxury market and caters mainly to visitors from North America. Total tourist arrivals exceeded 1.9 million in 2008, with about half from the US. Nearly 90% of the islands' food and consumer goods must be imported. The Caymanians enjoy a standard of living comparable to that of Switzerland."

BBC News: "One of the world's largest financial centres and a well-known tax haven, this British overseas territory in the Caribbean has more registered businesses than it has people."

Per capita GDP
2004: $43,800

The island balances its budget.

Crime has been described as "almost non-existent," attributed to low unemployment and a high standard of living.

One website, with an interest in attracting tourists, states that tourists find no solicitation, rude or pushy street vendors, or beggars. 

The surrounding water is described as crystal clear and the beaches "powdery white.

Wikipedia: "More hurricane or tropical systems have affected the Cayman Islands than any other region in the Atlantic basin."

Infant mortality (deaths before the age of one year per 1,000 live births)
2011: 6.63
2005: 8.19

Average life expectancy at birth

2011: 80.68 years
2007: 80.20 years

People

Population
July 2011: 51,385

Birth Rate
2011: 12.24 per 1,000 population per year.

Density
2005: 169 persons per square kilometer. (2005)

Net migration rate
2011: More people arriving than leaving. A net gain of 15.72 per 1,000 population, down from 18.25 in 2005.

Ethnic groups
Mixed 40%, white 20%, black 20%, expatriates of various ethnic groups 20%

Geography

Three islands south of Cuba: Grand Cayman, about 22 miles long and 5 miles wide, and two other islands, 9 and 12 miles long and about two miles wide.

Air temperatures: from November to April temperatures during the day range from 72 to 86 degrees, at night from 64 to 72; from May to October, 85 to 90 degrees during the day, 73 to 85 at night.

Capital: George Town

Government

Chief of State: Elizabeth II (queen, House of Windsor) since 6 February 1952.

Unicameral parliament with 20 members, 18 of which are popularly elected.

Capital: George Town.

Recent History

1962: Federation of the West Indies dissolves. Jamaica declares independence. Caymans stay under British rule.

1972: A new constitution provides greater autonomy.

SOURCES:
The World Factbook

Copyright © 2009-2013 by Frank E. Smitha. All rights reserved.