Country explorer: Cayman Islands
EXPERIMENTAL
2024
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Overview
Cayman Islands is a tropical, high-income country in North America with a tiny population. Its economy has declined in recent decades, and is based on financial services, tourism and real estate.
The Cayman Islands is a major international financial center.
Economy
The Cayman Islands have experienced significant economic growth with a marked increase in GDP per capita, positioning them distinctively as a high-income jurisdiction within the Caribbean and reflecting substantial financial and societal advancements.
Demographics
The Cayman Islands have seen substantial population growth primarily fueled by robust net migration, reflecting a demographic trend distinct from many high-income countries which face stagnation or decline, alongside modest fertility rate reductions and an increase in life expectancy indicative of improving health and economic conditions.
Basic needs
The Cayman Islands have consistently ensured universal access to electricity for their population, mirroring the trends seen in high-income countries, and highlighting its standing as a region with stable and high-standard infrastructural development.
Human development
The Cayman Islands have maintained a high literacy rate comparable to high-income countries, reflecting the nation's robust focus on education amidst its societal development.
Environment & energy
The Cayman Islands have demonstrated stability in their forest area, while simultaneously showing a gradual increase in electricity production from oil, yet lacking data on renewable energy contributions and CO2 emissions, positioning it distinctively in comparison to broader trends of increasing renewable energy reliance observed in many high-income countries.
Technology & innovation
The Cayman Islands have demonstrated significant technological advancements, with a remarkable increase in internet usage that has placed it on a competitive footing with high-income countries and an explosive growth in mobile phone subscriptions, indicating a deep integration of mobile technology into its society.
Culture & society
The Cayman Islands have experienced a high influx of foreign-born residents, distinguishing it from its peers with a significantly larger proportion of its population born abroad, amidst a steady age dependency ratio indicative of a balanced demographic structure.
Governance
Due to a lack of specific governance data for the Cayman Islands, insights into its rule of law, corruption perception, political civil liberties, or press freedom indices over the past two decades cannot be accurately compared to its peers or highlighted for distinctive transformations.