What is a primary focus of the Cayman Islands’ economy today?

The primary focus of the Cayman Islands’ economy today is tourism and financial services. This dual focus has significantly shaped the islands' economic landscape, making them a global hub for tourism and a key player in the offshore financial services sector.

Tourism is a major driver of the economy, attracting millions of visitors each year who come to enjoy the islands’ stunning beaches, resorts, and recreational activities like diving and snorkeling. This influx of tourists helps support a wide range of related businesses, from hospitality services to retail.

At the same time, the Cayman Islands is renowned for its robust financial services sector, offering various offshore banking, investment funds, and insurance services. The jurisdiction benefits from a stable political climate, a strong legal system, and tax neutrality, making it an attractive destination for international businesses and wealthy individuals seeking to manage their investments.

In contrast, agriculture, manufacturing, and textile production are not significant contributors to the Cayman Islands’ economy today. Agriculture is limited due to the islands' small land area and focus on tourism; manufacturing and textile production have not developed to a comparable level, given the competitive landscapes and economic incentives that favor services like tourism and finance.