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Tag Archive: government

Immigration Good for Caymans Growth

Premier Alden McLaughlin believes that immigration in Cayman has been an important and positive factor that has contributed to the growth of the islands.

The opposition benches expressed sentiments about refusing work permits and stopping the grant of status. The premier said the jurisdiction was the envy of the region because it had not been a victim of ‘insular thinking and prejudice’ and that Cayman owed its success to immigration.

While he agrees that immigration needs to be properly managed ‘it is immigration that has allowed these islands and all of us to develop the way we have’. By saying that nobody should be granted status was the kind of thinking that had set other places in the region, such ass the Bahamas, far behind.

‘Properly managed, immigration provides opportunities for our people,’ the premier stated, adding that this belief was the major difference between his administration and the policy position of the opposition. The premier said he believed that immigration has provided the current economic foundation that Cayman now enjoys. (more…)

November 7, 2017 Blog, , Read more >

New Cruise Port ‘Full Steam Ahead’

Plans for a new cruise port in George Town are going ‘full steam ahead’, according to the Cayman Island Government.

Premier Hon. Alden McLaughlin made the announcement at the Chamber of Commerce Legislative Luncheon on Wednesday (30th of September).

The Cruise berthing has been the most controversial and divisive issue to face Cayman in recent years. Do the concerns over the damage to the coral reefs outweigh the many hundreds of people and families who rely on jobs created as a result of cruise tourism, and continue to rely on them for years to come ?

Eighty-five percent of tourists arrive to the islands by sea. At the moment the cruise ships must anchor offshore and taxi passengers to the shore. The new port includes docking and direct access to the shore.

Plans for a cable car style ‘Cayman’s Sky Bridge’ were proposed in August by the GreenTech Group, which would have seen passengers transported to the shore from two piers fixed to the sea bed outside the reef line. It would appear however, that the Cayman Government has dismissed that proposal for its original, more traditional one. (more…)

October 7, 2015 Blog, , , , , , , , , , , , , Read more >

Cayman’s economy hits highest growth for seven years

The Economics and Statistics office announced a 2.1 percent growth in Caymans estimated Gross Domestic Product during 2014, the highest since 2007.

It has been the second consecutive year that the central government has recorded overall fiscal surplus which has amounted to CI$93.2 million attributed to improved revenue collection.

The strong fiscal position the government has found itself in has enabled them to reduce its outstanding debt by $25.9 million to $534.0 million at the end of 2014.

It was also noted that the average income in the Cayman Islands raised from CI$47,170 in 2013 to CI$48,095 in 2014, an increase of just under 2 percent.

The increase of tourism arrivals from both air and sea is believed to have had a strong impact on the Gross Domestic Product with growth in areas such as hotels and restaurants, transport, storage and communications, wholesale and retail trade. Air arrivals in 2014 were up 10.8 percent on the previous year and Cruise ship arrivals up a massive 17 percent on 2013. (more…)

July 20, 2015 Blog, , , , , , , , , Read more >