Economic Impact
A 2020 economic impact report has put the special economic zone’s economic impact during the first 10 years of its operation at US$502 million. [4] Cayman Enterprise City has been able to innovate and diversify its economic base, providing companies to work with and engage in emerging Tech sectors adding new skills and jobs to the Caymanian workforce. Aside from the direct impact, over 100 local vendors provide services and supplies to CEC’s special economic zones and thereby create economic activity and employment in adjacent and complementary local industries. In 2020, just under 15% of jobs at special economic zone companies were filled by Caymanians. The employment of expats, in turn, meant more local spending and consumption, the report said. [5]
In September 2018, its 250th company came on board, and targets to have 500 sponsored companies here within the next five years, directly impacting the economy. To date, Enterprise City’s contribution to the local economy has been US$155 million from 2012 to the end of 2017. [6]
It has been reported that the economic impact of Cayman Enterprise City in the Cayman Islands was US$41.56 million in 2017. [7]
The CaymanIslands is a self-governing British Overseas Territory, and the largest by population. The 264-square-kilometre (102-square-mile) territory comprises the three islands of Grand Cayman, Cayman Brac and Little Cayman, which are located south of Cuba and north-east of Honduras, between Jamaica and Mexico's Yucatán Peninsula. The capital city is George Town on Grand Cayman, which is the most populous of the three islands.
The Cayman Islands are a British overseas territory located in the Caribbean that have been under various governments since their discovery by Europeans. Christopher Columbus sighted the Cayman Islands on May 10, 1503, and named them Las Tortugas after the numerous sea turtles seen swimming in the surrounding waters. Columbus had found the two smaller sister islands and it was these two islands that he named "Las Tortugas".
This is a demography of the population of the Cayman Islands including population density, ethnicity, religious affiliations and other aspects of the population.
The economy of the Cayman Islands, a British overseas territory located in the western Caribbean Sea, is mainly fueled by the tourism sector and by the financial services sector, together representing 50–60 percent of the country's gross domestic product (GDP). The Cayman Islands Investment Bureau, a government agency, has been established with the mandate of promoting investment and economic development in the territory. Because of the territory’s strong economy and it being a popular banking destination for wealthy individuals and businesses, it is often dubbed the ‘financial capital’ of the Caribbean.
A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increasing trade balance, employment, increased investment, job creation and effective administration. To encourage businesses to set up in the zone, financial policies are introduced. These policies typically encompass investing, taxation, trading, quotas, customs and labour regulations. Additionally, companies may be offered tax holidays, where upon establishing themselves in a zone, they are granted a period of lower taxation.
The People's Progressive Movement is a political party in the Cayman Islands currently headed by Roy McTaggart.
An urban enterprise zone is an area in which policies to encourage economic growth and development are implemented. Urban enterprise zone policies generally offer tax concessions, infrastructure incentives, and reduced regulations to attract investments and private companies into the zones. They are a type of special economic zone where companies can locate free of certain local, state, and federal taxes and restrictions. Urban enterprise zones are intended to encourage development in deprived neighborhoods through tax and regulatory relief to entrepreneurs and investors who launch businesses in the area.
The International College of the Cayman Islands (ICCI) is a non-profit, private, four-year independent institution of higher education which opened in the fall of 1970. It is the oldest college in the Cayman Islands and is located in Newlands in the district of Bodden Town on the island of Grand Cayman.
Lesbian, gay, bisexual, and transgender (LGBT) people in the Cayman Islands may face legal challenges not experienced by non-LGBT residents. Both male and female types of same-sex sexual activity are legal in the Cayman Islands. Despite anti-gay attitudes expressed by certain members of the government, social acceptance by the Caymanian public has been known to be some of the best in the Caribbean. Some have attributed this to the strong British influence in the territory.
The Cayman Islands Society of Professional Accountants (CISPA) is a professional association of accountants in the Cayman Islands, a British Overseas Territory in the Caribbean. CISPA is responsible for licensing accounting practitioners, supports education of accountants and participates in decisions about the financial industry in the offshore financial centre.
The Miss Cayman Islands is a national beauty pageant in Cayman Islands. It selects the territory's entrants in the Miss Universe, Miss World and Miss Supranational pageants.
Cayman Islands–India relations refers to the international relations that exist between the Cayman Islands and India. The foreign relations of the Cayman Islands are handled by the British Foreign Office. Therefore, India's foreign policy has focused on economic relations with the Cayman Islands, as well providing consular services to Indians and Caymanians. The High Commission of India in Kingston, Jamaica is concurrently accredited to the Cayman Islands.
Richard Collett is a freediver and national record holder for the Cayman Islands in the sport of freediving. Collett started his training in apnea and freediving in August 2016 with the goal of being the first Caymanian to set and hold national records in all competitive freediving disciplines.
The Cayman Islands competed at the 2018 Commonwealth Games in the Gold Coast, Australia from April 4 to April 15, 2018. The Cayman Islands announced a team of 22 athletes. However, Jamal Walton did not compete. It was The Cayman Islands's 11th appearance at the Commonwealth Games.
The Cayman Islands Regiment is the home defence unit of the British Overseas Territory of the Cayman Islands. It is a single territorial infantry and engineer reserve unit of the British Armed Forces that was formed in 2020. The regiment has an authorized strength level objective of 175 personnel, akin to that of a company-sized unit.
The defence of the Cayman Islands has been and currently remains the responsibility of the United Kingdom.
John Reno Jackson is a Caymanian interdisciplinary artist, known for his continued exploration with multimedia through a series of works made interpreting themes such as migration, isolation and identity. His works interlace ideas in multiple narratives drawn from current and historical situations within the Cayman Islands and the Caribbean region.
Elijah Gregory Seymour is a Caymanian footballer who plays as a midfielder for the Cayman Islands national team.
Olive Wright Miller OBE was a British missionary, journalist and philanthropist. Known as "Cayman's own Mother Teresa", she was the Cayman Islands' first paid journalist and established its first retirement home.
