He Hath Founded it Upon the Seas. The economy of the Cayman Islands is one of the strongest in the Caribbean and residents enjoy one of the highest standards of living in the world. The popularity of the islands continues to rise, and the most recent figures show 1,144,313 visitors. Just over 373,000 arrive by air and 771,000 by cruise ship. Those figures are up by 100,000 from the previous year.
Most visitors come from the United States.
Offshore financial services play an integral role. Banking secrecy laws passed in 1966 laid the groundwork for this profitable industry that today puts the small island in the same league as financial giants such as Zurich and Tokyo. Some are, as might be expected, multi-million dollar accounts, while others are on a much smaller scale. There is no exchange control and money can be moved in and out of the country freely and privately. Banks normally don't accept huge amounts of cash.