The Cayman Islands economy has continued to grow at a steady
pace since its economic recovery began in 2011.
Real GDP grew by 2% in 2015, which is a slight decline compared
to the 2.4% growth in 2014. The government expects growth in the
medium term to be driven by the construction, legal, accounting,
finance and insurance services.
KEY INDUSTRIES
The main economic sectors are financial services and
tourism.
Various economic impact studies puts the financial services
sector at approximately 50 to 60% of GDP. Other sectors include
construction, real estate and other business activities.
Like many of the smaller islands in the Caribbean, the
Cayman Islands economy is a service based economy. The
natural resources of the Cayman Islands have not enabled it to
pursue traditional industrial development. Historically the economy
was relatively small until four decades ago when the country began
to pursue tourism and financial services as a path to
