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1. Nations and Territories

 Phone Code:  001345
Root-level Domain Code: .ky
CIA Info
Background: The Cayman Islands were colonized from Jamaica by the British during the 18th and 19th centuries, and were administered by Jamaica after 1863. In 1959, the islands became a territory within the Federation of the West Indies, but when the Federation dissolved in 1962, the Cayman Islands chose to remain a British dependency.

Economy Overview: With no direct taxation, the islands are a thriving offshore financial center. More than 68,000 companies were registered in the Cayman Islands as of 2003, including almost 500 banks, 800 insurers, and 5000 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 2.1 million in 2003, 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.

Geography Note: important location between Cuba and Central America

Location: Caribbean, three island (Grand Cayman, Cayman Brac, Little Cayman) group in Caribbean Sea, 240 km south of Cuba and 268 km northwest of Jamaica

Natural Resources: fish, climate and beaches that foster tourism

Geographic Coordinates: 19 30 N, 80 30 W

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