name: "Beloved Isle Cayman"
lyrics/music: Leila E. ROSS
note: adopted 1993; served as an unofficial anthem since 1930; as a territory of the United Kingdom, in addition to the local anthem, "God Save the Queen" is official (see United Kingdom)
Economy ::Cayman Islands
Economy - overview:
With no direct taxation, the islands are a thriving offshore financial center. More than 93,000 companies were registered in the Cayman Islands as of 2008, including almost 300 banks, 800 insurers, and 10,000 mutual funds. A stock exchange was opened in 1997. 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 1.9 million in 2008, with about half from the US. 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):
$2.25 billion (2008 est.) country comparison to the world: 182 $2.23 billion (2003 est.)
GDP (official exchange rate):
$2.25 billion (2008 est.)