Thursday, May 6, 2010

Cayman Islands, George Town Cost of Living April 2010

Country Full Name: Cayman Islands.

Location: The Cayman Islands (Overseas Territory of the UK) are a three-island group (Grand Cayman, Cayman Brac, Little Cayman) in Caribbean Sea, 240 km south of Cuba and 268 km northwest of Jamaica.

Country Climate: Tropical marine; warm, rainy summers (May to October) and cool, relatively dry winters (November to April).

Country Terrain: Low-lying limestone base surrounded by coral reefs.

Major Languages: English.

Major Religions: Christianity.

Country Population: 0.056 million (2008 est.) 0.056 million (2009 est.).

Country Economy: The economy of the Cayman Islands is mainly fueled by the tourism sector and by the financial services sector, together representing 70-80 percent of the country's gross domestic product (GDP). Caymanians enjoy one of the highest standards of living in the Caribbean.

Currency: Cayman Islands Dollar (KYD).

Country Inflation: 4.1% (2008 est.) 0.0% (2009 est.).

City: George Town, Grand Cayman, is the capital of the Cayman Islands, in the British West Indies.

City Economy: George Town is the heart of the Cayman Islands financial industry, with over 600 banks located there. Most of these are small one room operations, some having no physical location on the island at all. It also has cruise ship facilities and several shopping plazas.
Cost of Living: George Town has an overall cost of living index which equates it with middle cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups. George Town is currently ranked 112 overall, most expensive place in the world for expatriates to live, out of 282 international locations.

For more cost of living information on Cayman Islands, George Town