You are here

Warning message

The subscription service is currently unavailable. Please try again later.

Cayman Islands: Paradise Awaits

Accordion Content

Overview

Introduction

Nestled away amidst calm, aqua-colored waters of the Western Caribbean, sits the peaceful British Overseas Territory known as the Cayman Islands. Consisting of only three islands less than 500 miles south of Miami, Grand Cayman, Cayman Brac, and Little Cayman are known by many as “little pieces of paradise.”  The push to preserve its marine ecosystem have resulted in some of the most pristine waters for snorkelers and scuba divers, who enjoy visibilities of up to 150 feet.  The tropical climate, luxurious accommodations, and amenities continue to make the Cayman Islands an exceptional vacation destination for individuals and for families with children.

Geography

Located in the Caribbean Sea, the Cayman Islands comprise a three-island group of Grand Cayman, Cayman Brac, and Little Cayman.  The Cayman Islands are located 240 km south of Cuba and 268 km northwest of Jamaica.  The Caymans occupy about 100 square miles in total. The population of less than 50,000 people is comprised of half Caymanians; the other half of its populations have immigrated to the Cayman Islands or are of other birth nationality.

History

The Cayman Islands were dependencies of Jamaica until 1959, when they became a unit territory within the Federation of the West Indies. In 1962, upon the dissolution of the Federation, the Cayman Islands became a British dependency.  A new constitution approved in 1972 provided for a greater degree of autonomy for Caymanians.

Economy

The beaches of the Cayman Islands, most notably Seven Miles Beach on Grand Cayman, are world renowned luxurious tourist destinations and considered by some to be the most attractive in the Caribbean. Crystal clear waters and an abundance of dive sites contribute to the popularity of the Caymans, which is a marshy and tropical land and home to rare and endangered flora and wildlife. Each year, the Cayman Islands attract over a million tourists. Although the Caymans enjoy one of the highest standards of living in the world, 90 per cent of all consumer goods and foods must to be imported to the islands. The main attraction and the biggest industry in the Cayman Islands, however, is not tourism.  Corporate finance dominates the economy, in large part to the fact that there are no taxes whatsoever in the Cayman Islands and the government does not require businesses to submit reports. There are over 600 banking institutions with combined assets surpassing $500 billion, an active stock exchange, and the local registration of some 50,000 offshore companies because of the lack of regulation.  The relative economic stability contributes to relatively lower rates of crime and a safe and easy-going atmosphere, which makes it inviting for tourists and fuels the tourism industry.

Location:
  • Caribbean
  • Cayman Islands
Keywords: cayman islands, grand cayman, little cayman, cayman brac, stingray city, Devils Grotto, Georgetown, Turtle Farm, seven mile beach Author: Related Tags: Diving Guides