Country Report Cayman Islands December 2008
| Publication Date | December 2008 |
|---|---|
| Publisher | EIU |
| Product Type | Report |
| Pages | 15 |
| ISBN Number | not applicable |
| Product Code | EIU00872 |
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Summary
Review
There are local fears that rising political pressure in many OECD economies to tighten international regulations on offshore financial centres (such as the Cayman Islands) could damage one of the main pillars of the economy; any new regulations would likely cover companies operating subsidiary companies offshore. Despite the global economic downturn, the government has expressed cautious optimism about the short-term outlook for tourism, with a good level of advance bookings already secured for the winter season. The main tourism areas, located on Grand Cayman, escaped damage from Hurricane Paloma, a category-four hurricane that hit Cayman Brac and Little Cayman in early November. The government is moving ahead with its port development and airport expansion projects despite the global economic downturn and worsening prospects for international financing.
This report covers the following industry codes:
SIC Code: 10;2834;80;47;70;60
NAICS Code: 212;3254;62;48;72;52
Content
- Summary
- Political structure
- Economic structure: Annual indicators
- Review: Concern rises over impact of world financial crisis
- Review: Hurricane Paloma severely damages Cayman Brac
- Review: Port and airport projects moving ahead
- The region: Summary
- Outlook for 2009-10 : Several Caricom countries have elections ahead
- Outlook for 2009-10: Drug-trafficking will remain a major security concern
- Outlook for 2009-10: Regional integration will advance slowly
- Outlook for 2009-10: Public finances will remain under strong pressure
- Outlook for 2009-10: The tourism sector will be hit by the US downturn
- Outlook for 2009-10: Tighter global liquidity threatens mining investments
- Outlook for 2009-10: Financial sectors' performance will vary across the region
- Recent developments: A new trade framework is agreed with the EU
- Recent developments: Caribbean leaders assess impact of Obama presidency
- Recent developments: Discussions on expanded integration continue
- Recent developments: Overactive hurricane season has lasting economic impact
- Recent developments: The outlook for tourism is bleak
- Recent developments: Airlines adjusting services to reflect changes in demand
- Recent developments: Cruise arrivals performance remains mixed
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