Cayman Jobs - Finding employment in the Cayman Islands

The Cayman Islands economy revolves around the financial services sector and tourism. Unemployment is virtually non-existent and the average income is US$35K annually (based on 2002 estimates). Living expenses in the Cayman Islands are higher than on many other Caribbean destinations, but since there is no income tax you should be able to save quite a bit. Grand Cayman is the largest island, thus where the majority of jobs are found. Tourism accounts for 70-75% of the annual GDP of the Cayman Islands and is hence a major part of the economy. Of the millions of tourists that visit the islands annually, 99% of the them stay on Grand Cayman. The tourism sector supplies thousands of jobs in the hotel and resort field, from managerial positions to simple room services and in all facets of the water sports industry, from dive instructors to submarine pilots.

Due to tremendous growth in the last few decades in offshore banking and tourism, the population is now approximately 50% local, 50% overseas workers. The Cayman Islands offers an outstanding quality of life as well as excellent career opportunities in international finance.  Because the Cayman Islands are not subject to direct taxation by the British government, nor is there a local income tax, they serve as an international offshore banking hub and tax haven for millions of people and corporations. As of July 2000, almost 40,000 companies were incorporated on the Cayman Islands including 600 banking and trust companies with assets in excess of $500 billion. Approximately 6,000 out of the world's 8,000 hedge funds are also registered in the Cayman Islands.