Careers, Jobs and Education Resources for: Cayman Islands

The Cayman Islands were colonized from Jamaica by the British during the 18th and 19th centuries, and were administered by Jamaica after 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. (from the CIA)
 
 
 

Economic Overview

With no direct taxation, the islands are a thriving offshore financial center. more than 68,000 companies were registered in the cayman islands as of 2003, including almost 500 banks, 800 insurers, and 5,000 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 2.1 million in 2003, with about half from the us. about 90% of the islands' food and consumer goods must be imported. the caymanians enjoy one of the highest outputs per capita and one of the highest standards of living in the world.

Environmental Issues

No natural fresh water resources; drinking water supplies must be met by rainwater catchments

Government Type

British crown colony

Population

47,862 note: most of the population lives on grand cayman (july 2008 est.)

Location

Caribbean, three-island group (grand cayman, cayman brac, little cayman) in caribbean sea, 240 km south of cuba and 268 km northwest of jamaica

Area

Total: 262 sq km land: 262 sq km water: 0 sq km

1.5 times the size of washington, dc

Country Aliases

Conventional long form: none conventional short form: cayman islands

Capital

Name: george town (on grand cayman) geographic coordinates: 19 18 n, 81 23 w time difference: utc-5 (same time as washington, dc during standard time)

International Disputes

None

Sources: Central Intelligence Agency (CIA)