Economy Of The 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 Island 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.
Read more about Economy Of The Cayman Islands: History, International Finance and Tourism, Standard of Living, Statistics
Famous quotes containing the words economy of, economy and/or islands:
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“What are the islands to me
if you are lost
what is Naxos, Tinos, Andros,
and Delos, the clasp
of the white necklace?”
—Hilda Doolittle (1886–1961)