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Cayman Islands

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A proportional representation of Cayman Islands exports, 2019

With an average income of US$71,549, Caymanians have the highest standard of living in the Caribbean. According to the CIA World Factbook, the Cayman Islands real GDP per capita is the 10th highest in the world, but the CIA’s data for Cayman dates to 2018 and is likely to be lower than present-day values. The territory prints its own currency, the Cayman Islands dollar (KYD), which is pegged to the US dollar US$1.227 to 1 KYD. However, in many retail stores throughout the islands, the KYD is typically traded at US$1.25. The government has established a Needs Assessment Unit to relieve poverty in the islands. Despite this, the Cayman Islands holds a relatively low unemployment rate of about 4.24% as of 2015, lower than the value of 4.7% that was recorded in 2014.

The government’s primary source of income is indirect taxation: there is no income taxcapital gains tax, or corporation tax. An import duty of 5% to 22% (automobiles 29.5% to 100%) is levied against goods imported into the islands. Few goods are exempt; notable exemptions include books, cameras, gold, and perfume.


Local transportation is on mostly paved roads via taxi, private car, or bicycle.

George Town is the port capital of Grand Cayman. There are no berthing facilities for cruise ships, but up to four cruise ships can anchor in designated anchorages. There are three cruise terminals in George Town, the North, South, and Royal Watler Terminals. The ride from the ship to the terminal is about 5 minutes.

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Observation Deck at the Owen Roberts International Airport

Cayman Airways is the national airline.  The international airport is Owen Roberts International located near Georgetown. Local flights to the outlying islands are also available.

Flag of the Cayman Islands:

The flag of the Cayman Islands consists of a Blue Ensign defaced with the British overseas territory’s coat of arms. Adopted in 1959 to supplement the Union Jack and to replace the flag of the Colony of Jamaica, it has been the flag of the Cayman Islands since the territory was granted self-government that year. The design of the present flag entailed removing the white disc and outlining the coat of arms with a white trim, although the previous version is often used in an official capacity. The Cayman Islands’ flag is similar to the flags of eight other British Overseas Territories, which are also Blue Ensigns with their respective coats of arms.

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Flag of the Cayman Islands

The Cayman Islands were granted their own coat of arms on 14 May 1958. It was consequently utilized on the Blue Ensign, with a white disc as its background. This was adopted as a proxy national flag in 1959, after authorization was granted by the Admiralty. The territory was given self-government in July of the same year, around the time that they joined the West Indies Federation. They remained a British territory after the federation was dissolved in 1962. The usage of both the Blue Ensign and the Red Ensign – a courtesy flag flown unofficially on private ships – was ultimately authorized in 1988. The flag was redesigned eleven years later, with the size of the coat of arms increased, and the white disc removed and replaced with a white outline. The Union Jack remains the state flag of the Cayman Islands.

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