Economy of Cayman Islands

Economy of Cayman Islands

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 70-80 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.

The emergence of what are now considered the Cayman Islands' "twin pillars of economic development" (tourism and international finance) started in the 1950s with the introduction of modern transportation and telecommunications.

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