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.
George Town, Grand Cayman, is the capital of the Cayman Islands, in the British West Indies. 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.
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.
The latest cost of living rank for each of the 13 Basket Groups is now available.