Economy

A Diversified, Resilient Economy that Supports Prosperity and Innovation

The Cayman Islands Government is focused on strengthening and diversifying the economy to support long-term growth, resilience and opportunity for Caymanians. This includes supporting key industries such as financial services and tourism, while also developing emerging sectors like technology, healthcare, reinsurance and education. 

This Broad Outcome brings together efforts to build a resilient and competitive economy that can adapt to global challenges while continuing to create opportunities locally. It focuses on supporting businesses, encouraging entrepreneurship, attracting investment, and ensuring Caymanians can participate in and benefit from economic growth. Strong regulatory frameworks remain central to this approach, protecting investors, maintaining market integrity, and reinforcing Cayman’s position as a leading international financial centre. 

By balancing innovation with strong governance, Government is working to create a dynamic and inclusive economy that supports jobs, strengthens local businesses, and ensures the benefits of economic growth are felt across the community.

How Government Is Delivering This Priority 

  1. Protect and grow established industries: Enhance diversification across key sectors, and foster partnerships to ensure industries remain resilient and competitive.

  2. Strengthen emerging industries: Invest in research, and innovation and training in technology, healthcare and education, to enhance competitiveness.

  3. Robust and adaptable regulatory frameworks: Adapt and maintain high standards of governance that reinforce Cayman’s reputation as a leading financial hub.

Specific Outcomes 

Foster globally competitive financial, maritime and aviation services sectors underpinned by robust, transparent regulatory frameworks. 
Cultivate a resilient, inclusive and diversified economic centre by strengthening local commerce and empowering entrepreneurship. 
Position the Cayman Islands as a centre of excellence for technology and healthcare. 
Grow the reinsurance sector and obtain National Association of Insurance Companies (NAIC) equivalency to enhance our global competitiveness. 
Develop and implement a national tourism strategy to optimise benefits while protecting, growing and diversifying target markets and airline routes. 
Optimise the national flag carrier to support the local economy and international trade and as an air bridge for the Sister Islands. 
Enhance existing trade routes and explore the establishment of new trade partners. 
Facilitate and promote an expanded portfolio of attractions for visitors and residents. 
Advance long-term economic development through a national strategy supported by robust data collection, analysis, and foresight to enable sustainable growth. 
Facilitate a productive, climate-resilient agricultural sector that strengthens food security and supports healthy diets. 

Key Projects and Initiatives

Maintain International Financial Reputation: 
preparing for the Caribbean Financial Action Task Force’s fifth-round mutual evaluation.
 
 
Reform Commerce Legislation: 
modernising and consolidating the legislative framework to ensure its relevance in the current and future business environment. 
 
Launch GENIUS Programme: 
engaging Caymanian graduates in developing sector-specific solutions while building talent to support future government projects. 
Develop Reinsurance Initiatives: 
obtaining National Association of Insurance Commissioners Qualified Jurisdiction Status.
 
 
Establish Made in Cayman Certification: 
promoting Caymanian products and services while boosting consumer confidence, national pride and export potential. 
 
Implement Submarine Cable Modernisation Project: 
enhancing resilience of critical information and communications technology infrastructure. 
 
Update National Tourism Plan: engaging with Department of Tourism stakeholders to update the plan and all tourism development strategies. 
 
Launch Beautification and Enhancement Committee: 
implementing district beautification and enhancement initiatives in collaboration with stakeholders. 
Expand Trade Development: 
establishing a framework for trade development, focused on reducing the cost of imports to help lower the cost of living. 
 
Implement Digital Transformation: 
advancing digital and AI technologies to improve efficiency and data-driven decisions across public and private sectors.
 

Priority in Progress 

National Food Security Policy

The Cayman Islands Food and Nutrition Security Policy (CIFNSP) for 2022-2036 is a strategic path towards enhancing agricultural capabilities, improving food availability, and ensuring the nutritional well-being of the population. 

News

Strategic Priorities 2026-2028

This priority is one of seven strategic areas guiding the Government's work from 2026 to 2028. A strong economy creates the conditions for everything else the Government is working to achieve, from better public services and improved housing to stronger education and healthcare outcomes. Economic prosperity and national wellbeing grow best when they grow together. 

Read the full Strategic Policy Statement 2026-2028
 
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