Introduction: Cayman Islands Download PDF

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.

Capital City: George Town (-5 GMT)  
Chief of State: Queen Elizabeth II  
Head of Govt.: Leader of Government Business Kurt Tibbetts  
Currency: Caymanian dollar  
Major Languages: English 95%, Spanish 3.2%, other 1.8%  
Calling Code: 1-345  
Voltage: 120  
Stock Exchanges: Cayman Islands Stock Exchange  
Primary Religions: Church of God 26%, United Church 11.8% (Presbyterian and Congregational), Roman Catholic 11%, Baptist 8.7%, Seventh Day Adventist 8.2%, Anglican 5.7%, Pentecostal 5.3%, other Christian 2.7%, non-denominational 5.8%, other 3.8%, none 9.8%, unspecified 1.1%  

Main Airports

Cayman Brac (CYB), Grand Cayman (GCM)

U.S. Embassy

Part of the consular district administered by the U.S. Embassy in Kingston, Jamaica
142 Old Hope Road, Kingston 6, Jamaica
tel: (876) 702-6000

Corporations

Seagate Technology (Technology Hardware & Equip)
$11.31 Billion USD
Garmin (Technology Hardware & Equip)
$3.49 Billion USD
Noble (Oil & Gas Operations)
$3.45 Billion USD

Key Facts

GDP (ppp) per CAPITA
$43,800 (2004 est.)
Inflation Rate
4.4% (2004)
Population
49,035
Country Risk Ratings
-
Ease of Doing Business
-/181
Global Competitiveness
-/134

Statistics

Labor force:
23,450 (2004)
Exports:
$2.52 million (2004)
Exports - partners:
NA
Imports:
$866.9 million (2004)
Imports - partners:
NA
Major Industries:
tourism, banking, insurance and finance, construction, construction materials, furniture

Rankings

Corruption Perceptions Index
0 out of 180
 
The Corruptions Perception Index (CPI) is reported annually by Transparency International, an international civil society organization. The CPI ranks countries in terms of the degree to which corruption exists in the misuse of public power for private benefit among public officials and politicians. CPI is a composite index determined by expert assessments and opinion surveys. The highest ranked country is the country with the least amount of perceived corruption. Index units, 10=least corrupt, 0=most corrupt.

Data collected in 2002

Source: Transparency International

E-readiness Rankings
-
 
The E-readiness Ranking is reported yearly by the Economist Intelligence Unit, a research and advisory firm. The E-readiness Ranking evaluates the technological, economic, political and social assets of countries to assess the information and communications technology infrastructure, and the infrastructures benefits on the country's consumers, businesses and governments. The higher ranked countries have a better ability to leverage digital channels for communication, commerce, and government in order to further development.

Data collected in 2007

Source: EIU

Freedom of the Press
63 out of 194
 
The Freedom of the Press Survey is an annual report by The Freedom House, an organization that promotes and researches advocacy of freedom across countries. The Press Survey assesses the degree of print, broadcast, and internet freedom in every country in the world. Ratings are determined by examining three broad categories: the legal environment in which media operate (0-30 points), political influences on reporting and access to information (0-40 points), and economic pressures on content and the dissemination of news (0-30 points). The highest ranked country has the greatest degree of press freedom. Index units, 1-30: Free, 31-60: Partly Free, 61-100: Not Free.

Data collected in 2005

Source: Freedom House

Global Services Location Index
-
 
The Global Services Location Index is published annually by A.T. Kearney, a global management consulting firm. The Global Services Location Index measures the viability of countries as a potential offshore destination for services, based on their financial attractiveness (0-4 points), people and skills availability (0-3 points), and business environment (0-3 points). The highest ranked country is the most attractive as a potential offshoring destination. Index units, 0=location does not provide offshore support, 10=location does provide offshore support.

Data collected in 2007

Source: A.T. Kearney

Index of Economic Freedom
-
 
The Index of Economic Freedom is reported annually by the Heritage Foundation, a research and educational institute. The Index of Economic Freedom analyzes a wide range of issues including trade barriers, corruption, government expenditures, property rights, and tax rates to generate an overall ranking of economic freedom. The highest ranked country is the country with the least number of restrictions and constraints on businesses.

Data collected in 2007

Source: Heritage Foundation

Tax Misery & Reform Index
-
 
The Forbes Tax Misery Index is annually compiled by Forbes, an American publishing and media company. The Tax Misery Index reflects the sum of corporate income, personal income and wealth taxes plus employer social security, employee social security and VAT/sales taxes at the highest marginal rate in each locale. The highest ranked countries impose the harshest taxes while those at the bottom are the most tax friendly.

Data collected in 2007

Source: Forbes

The Globalization Index
-
 
The Globalization Index is compiled annually by A.T. Kearney and Foreign Policy. The Globalization Index ranks the major developed and developing countries in the world by analyzing key components of global integration, such as economic, personal, technological, and political integration. The highest ranked country is the most globalized.

Data collected in 2007

Source: Foreign Policy