The Cayman Islands are located in the western
Caribbean sea. The three islands are situated
about 480 miles south of Miami, 150 miles south
of Cuba, and 180 miles northwest of Jamaica.
Grand Cayman is by far the largest, with an area
of 76 square miles. The two "Sister Islands" of
Cayman Brac and Little Cayman are located about
90 miles east of Grand Cayman and have areas of
14 square miles and 10 square miles
respectively.
The two smaller Cayman
islands were discovered by Columbus in 1503. Sir
Francis Drake explored the area in 1586, but it
was 1670 before the islands came under full
British rule. Grand Cayman was settled from
Jamaica by 1672; Little Cayman and Cayman Brac
were settled some time later and maintained a
separate administration until 1877. The Governor
of Jamaica held administrative responsibility
for the islands until 1962, when Jamaica itself
became independent. Since then the islands have
had their own Governor appointed by the British
crown.
The economy of the Cayman Islands
used to be built around turtling. However, this
industry began to disappear in the 20th century
and tourism and financial services began to
become the economic mainstays during the 1970s.
The United States of America is the Cayman
Islands' largest trading partner.
The
healthy state of the economy has attracted
migrant workers from Jamaica, Europe and North
America who now make up 30 per cent of the
working population.
The per capita income
is the highest with an average income of around
$35,000, Caymanians enjoy the highest standard
of living in the Caribbean.
Tourism
accounts for 70-75% of the annual GDP of the
Cayman Islands and is hence a major part of the
economy. Grand Cayman's major tourist attraction
is the world-famous Seven Mile Beach (SMB) on
which most of the island's hotels and resorts
are located. SMB is regarded by many as one of
the best beaches in the world.
The Cayman
Islands are also world famous as a Scuba Diving
destination because of their crystal- clear
waters and their proximity to the Cayman Wall.
Cayman Brac and Little Cayman are also
considered to be elite dive destinations. There
are several snorkeling locations where tourists
can swim with stingrays.
The Cayman
Islands have no direct taxation and have become
important as an offshore financial center and a
tax haven. The finance industry has grown
rapidly since the late 1980s when many companies
relocated to the islands from Panama, which was
racked by political instability. Good
communications and infrastructure helped to
sustain its growth, to the point where the
islands are now the world’s fifth-largest
banking center.
The island of Grand
Cayman was severely damaged by the Category Five
Hurricane Ivan in September 2004, which
destroyed many buildings and damaged 70% of
them. Power, water and communications were all
disrupted. Ivan was the worst hurricane to hit
the islands in 86 years. The island has made
rapid recovery since Ivan, with most of the
infrastructure now restored.
The Cayman
Islands have observer status at the Caribbean
Common Market, CARICOM, and associate membership
of the European Union.
Grand Cayman
carnival occurs in the last week of April or the
first week of May and is called "Batabano". This
name "Batabano" is the name of the Rotary club
that created Carnival in the Cayman Islands.
There are two days of fun filled excitement and
gay abandonment. Batabano is a weekend when
people there use their talents, imagination and
devise the most colourful beautiful costumes.
There are exotic foods, live steelband music and
hot soca music give the revelers parading the
streets every reason to jump, party and enjoy
themselves. One of the sister islands Cayman
Brac holds their celebration the next Saturday
after Grand Cayman's and it is called
"Brachanal."