Cayman ranks 28th in the latest Global Financial Centers Index, up from 41 in the previous survey.
Cayman’s index score increased from the previous survey 6 months ago by 35 points to 676.
Jude Scott, CEO of Cayman Finance said, “Our reputation as a center of excellence for international financial services continues to go from strength to strength and this latest ranking is proof of that.”
“The Cayman Islands continues to be recognized for its client-centric focus and for delivering excellence in service. Clients are at the center of our financial services industry. They are at the core of everything we do, and this approach has been central to our success as a leading international financial center,” Mr. Scott added.
“The Cayman Islands is now the highest-ranking mainstream international financial services center.” (more…)
November 28, 2016
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The George Town harbor has been nominated and listed as a world Hope Spot by Mission Blue after being vetted by the International Union for Conservation of Nature.
The Harbor is currently at risk of being destroyed by the development of cruise berthing facilities in the Cayman capital.
The Hope Spots are places deemed critical to the health of the ocean. Scientists explained that while around 12% of the earth’s terrestrial regions are currently under some form of protection, less than 4% of the ocean is protected in any way. Leaving it vulnerable to overfishing, pollution, and over-exploitation.
Local environmental activists Save Cayman said the nomination was a victory for thousands of people who are fighting to protect the reef system in the harbor from the cruise project. (more…)
September 26, 2016
BlogCayman Islands, cruise project, Environment
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Local firm Island Recycling and its overseas partner Guernsey Recycling, are to shred the tires in the George Town landfill site, and use them as fill in local construction projects.
The contract was signed on Monday 15th August for $1.25 million from the Environmental Protection Fund, after five previous failed bids to sell or give the tires away.
The work is expected to commence within the next four months, once specialized equipment arrives on the island, and is expected to take around 11 months to shred the stockpile of tires.
The Environmental Protection Fund has been criticized in the past for taking far to long to come to a deal involving the tires.
Premier Alden McLaughlin said “The landfill is an issue and has been an issue for the country for many, many years, and while many people believe we are moving far too slowly, we are absolutely committed to developing a long-term plan that creates a solution that will last the course of the next 50 years.” (more…)
August 22, 2016
BlogEnvironment, Grand Cayman, Land Fill
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The Cayman Islands tourism department is seeking a 5-year plan that will help relieve the key attraction, Seven Mile Beach, and spread growing visitor numbers across Grand Cayman.
George Town has dramatically changed over the past three decades, and Seven Mile Beach is loosing its appeal as more and more people come to the island and overcrowd the iconic beach.
The strategy over the past couple years has been to focus on visitor growth. Now that the 300,000 targets has been met and surpassed that focus now shifts to managing that growth in a sustainable way.
“It is not just about numbers anymore. It is also our ability to handle that volume.” Said Director of Tourism Rosa Harris. “Developers will have their ideas for what they want to do, but we need our own vision for the type of development we want to encourage.” (more…)
May 19, 2016
BlogCayman, Grand Cayman, Seven Mile Beach, tourism
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The ultra-luxury sector of the residential market is really starting to establish itself and confirms that international investors are seeing real value in Cayman real estate product.
There has been remarkable recent activity in the $3 million and higher market in high-end residential homes.
The market in this case appears to be made up of both local buyers and those from overseas looking to have their own space while they live here, either temporarily for a few months of the year, or permanently.
During the last nine months, the market has been extremely buoyant. The buyer’s market of the last few years is giving way to a seller’s.
Growth is centred along Seven Mile Beach for condominiums, and Cayman Kai, on the island’s north, for single-family homes. (more…)
April 21, 2016
BlogCaribbean, Cayman Islands, Cayman Kai, financial services, global transparency, international investors, M&A market, market, property market, real estate, residential, Seven Mile Beach, ultra luxury
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Cayman Airways has announced a new service from the Charles Kirkconnell International Airport to the eastern city of Holguin in Cuba.
The Cayman Brac airport has undergone an extension over the past couple years. The first stage of the project included a 6,816 square foot addition to the east end of the existing building, with a check-in area, restrooms, security room, baggage screening, enlarged departure lounge and relocated café/bar. The second stage included a 4,670 square foot addition to the west end of the existing building and a new baggage claim area.
The first flight is scheduled to leave at the end of November, Saturday 28th. The schedule will see flights leaving Cayman Brac every Saturday, and will be the first international route since the airport expanded. Cayman Airways Express will provide connecting flights to and from Grand Cayman. (more…)
October 20, 2015
BlogCanadian, Cayman Airways, Cayman Brac, Cayman Islands, Charles Kirkconnell International Airport, Cuba, European, Holguin, resort
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Cayman Brac has seen a twenty percent rise in air arrivals from this time last year.
The increased numbers are the outcome of the upgrades Charles Kirkconnel International Airport underwent during the past year, which were only officially opened in February 2015.
The upgrades included the construction of a Hold Baggage Screening (HBS) Room, which is a necessity for international travel to the United States, an In-transit lounge, and an arrivals hall. The run way also has the capability to accommodate all of the aircraft that can land at the Owen Roberts International airport, on Grand Cayman, apart from the British Airways Boeing 767. (more…)
August 7, 2015
Blogair arrivals, arrival growth, arrivals hall, business, Cayman Brac, Cayman Brac Businesses, Cayman Government, Cayman Island, Charles Kirkconnell International Airport, development, economy, entrepreneurs, Hold Baggage Screening, In-transit lounge, investors, land, Owen Roberts International Airport, property, real estate, tourism
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Brac Reef Beach Resort on Cayman Brac is set to start to renovate in a few weeks time.
At present, the family-owned resort has 40 beach view rooms, dining, swimming pool with poolside bar, day spa, fitness center, tennis and volleyball courts and gift shop, all on a four and a half acre privately owned beach on the Southwest end of Cayman Brac.
Upgrades will include a new multi-level bar, freeform resort pool, upgrades to all of its 40 rooms, and resort-wide renovations.
Brac Reef Beach Resort is one of the newly crowned Trip Advisor’s Hall of Fame winner, a new award that recognise recipients that have consistently received positive ratings and have earned Certificates of Excellence over a five year period.
Brac Reef Beach Resort boasts the best resort diving experience in Cayman Brac, and treats divers to a one-of-a-kind valet diving experience to explore unique reef, wall and wreck dive sites.
Once the upgrades are complete the resort, that will be renamed to Cayman Brac Beach Resort, will truly be the ultimate divers’ paradise, which will also be ideal for travellers seeking a relaxing Caribbean retreat where the adventures of the sea is enhanced by the experience of the resort.
Completion of the project is aimed for November, the start of Cayman Islands tourism high season.
July 17, 2015
BlogBrac Reef Beach Resort, Caribbean, Cayman Brac, Cayman Brac Beach Resort, Cayman Islands, diving, property, renovation, resort, retreat, Trip Advisor, Trip Advisor Hall of Fame
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IHS Global Insight’s new report for the U.S. Conference of Mayors has named Ocala in their top 10 list of metropolitan areas that are expected to see the most economic growth next year.
The forecast is that there is to be a large shift from the high performing energy areas that did so well in 2014 to the retirement and baby boomer areas of the South East.
Nowhere supports this better than Midland, Texas, the best economic growth in 2014, which grew 11.9%, is estimated to finish last in the list with only a 3.2% rise. (more…)
June 29, 2015
Blogeconomic, growth, IHS Global Insight, metropolitan areas, Ocala, U.S. Conference of Mayors
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When people think of the Cayman Islands, most people think of no direct taxation, great weather, beautiful beaches, amazing diving and stunning Caribbean natural beauty. What people don’t necessarily think of is Cayman’s fantastic world-class food scene that has exploded over the last couple of years.
International and local chefs continue to open fantastic restaurants in Cayman bringing a fantastic mix of Caribbean and European influences to the Islands, and with many Cayman eateries adopting the farm-to-table movement its not only high quality seafood on offer.
The farm-to-table movement not only brings healthy, fresh and local produce to Cayman plates but also keeps money in local pockets. When dining in Cayman you can be eating the fish from its waters and the vegetables from its land. (more…)
May 11, 2015
BlogBestofCayman.com, Blue Restaurant, Camana Bay, Capt. Herman East Side Fish Fry, Caribbean, Cayman Islands, Cindy Huston, Eric Ripert, farm-to-table, farmers, food, healthy, Le Soleil d'Or, local produce, Michael Schwartz, Michael's Genuine Food & Drink, Ortanique, Ritz-Carlton, Seven Mile Beach, Sunshine Grill, Taste of Cayman, The Brasserie Restaurant & Market
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