Political parties and leaders: no formal political parties
International organization participation: Caricom (observer), CDB,
Interpol (subbureau), IOC
Diplomatic representation in the US: none (dependent territory of the
UK)
Diplomatic representation from the US: none (dependent territory of the UK)
Flag description: blue, with the flag of the UK in the upper hoist-side quadrant and the Caymanian coat of arms on a white disk centered on the outer half of the flag; the coat of arms includes a pineapple and turtle above a shield with three stars (representing the three islands) and a scroll at the bottom bearing the motto HE HATH FOUNDED IT UPON THE SEAS
@Cayman Islands:Economy
Economy-overview: With no direct taxation, the Islands are a thriving offshore financial center; 28,000 foreign companies do business with the 600 registered banks and trust companies; banking assets exceed $500 billion. Tourism is also a mainstay, accounting for about 70% of GDP and 75% of foreign currency earnings. The tourist industry is aimed at the luxury market and caters mainly to visitors from North America. Total tourist arrivals exceeded 1 million visitors in 1995 and again in 1996. About 90% of the islands' food and consumer goods must be imported. The Caymanians enjoy one of the highest outputs per capita and one of the highest standards of living in the world.
GDP: purchasing power parity-$860 million (1996 est.)
GDP-real growth rate: 4.5% (1996 est.)
GDP-per capita: purchasing power parity-$23,800 (1996 est.)