The Cayman Islands consist of three islands, Grand Cayman (75 sq. miles), Cayman Brac (15 sq. miles) and Little Cayman (11 sq. miles). The islands are a British Overseas Territory and can be found just 480 miles south of Miami. Grand Cayman is divided into 6 districts: George Town, West Bay, Savannah, Bodden Town, East End and Northside. George Town, the capital of Grand Cayman is the centre of commerce and Government and home to the majority of the work force in Cayman. George Town is also home to the country’s main port where cruise ships dock daily, bringing a large number of visitors to the Island.
Based off of the 2014 Labor Force Survey, the Cayman Islands has an estimated population of 58,238 people of whom 33,447 are Caymanian. Caymanians account for just over 50% of the labor force in Grand Cayman with the rest being comprised of work permit holders from many different parts of the world including the US, the UK, Jamaica, Canada and the Philippines. Overall, more than 100 different nationalities are represented in Cayman
Climate: Cayman is known for its warm tropical climate throughout the year, with temperatures seldom dropping below 70⁰ Fahrenheit. The rainy season is from May through October and although it can rain heavily in spells, typically, showers are of short duration and are often not island wide. Cayman’s hurricane season is from June through November.
Time Zone: The Cayman Islands operate year round on -5 hours Coordinated Universal time (UTC) no adjustment for Daylight Savings Time.
Economy: Boasting a modern first-world economy, Grand Cayman is well known for its booming financial and tourism industries. Grand Cayman holds great appeal as a financial centre for US and other foreign investors and businesses, due to the absence of all major direct taxes and a well developed financial infrastructure.
Service businesses operate Monday-Saturday. Banks operate most commonly Monday-Friday 9am to 4pm however, several branches have extended their hours to open until 6pm during the week and on Saturday mornings through mid-day. Click to learn more about Banking.
Cost of Living: The cost of living in Cayman is comparatively high but much of this is offset by tax free salaries.
If you chose to live inland or away from the downtown area then accommodation prices can be significantly lower as reflected below:
|Typical Rental prices per month – mid range CI$|
|Location||1 Bedroom||2 Bedroom||3 Bedroom||Commute Time*|
|West Bay||$850-1,100||$1,200 - $2,000||$1,800 +||25-35 minutes|
|SMB||$1,000 - $1,650||$1,800 - $2,500||$3,000 +||10-20 minutes|
|Governor/Snug Harbor||$1,250 - $1,650||$1,800 - $2,500||$2,500 +||15-20 minutes|
|George Town/South Sound||$1,000 - $1,500||$1,450 - $2,250||$2,500 +||5 minutes|
|Prospect/Savannah||$900 - $1,200||$1,250 - $2,000||$1,800 +||25-40 minutes|
|Bodden Town/East End||$850 – 1,000||$1,200 - $1,800||$1,600 +||40-60minutes|
* Note: Commute times are based on typical drive time to George Town during rush hour.
Click to learn more about Accommodation.
Typically the majority of apartments come fully furnished and can include dishes, linens, appliances etc. Please note that rental prices rarely include utilities. See below for an idea of the costs involved in setting up and running an apartment*:
|Expenses for:||Deposit||Monthly Bill|
|Electricity||$200.00||$150.00 - $400.00 per month. Can be higher in summer with a/c usage.|
|Water||$100.00||$40.00 + per month|
|Phone Line (land)||$100.00||$50.00 + per month|
|Cable||$90.00||$50.00 + per month depending on package|
|Food||N/A||$500– 900 per month|
|Gas/Petrol||N/A||$100 - $250 per month|
|Medical Insurance||N/A||$100-200 per month|
|Internet||N/A||$100+ per month depending on package|
|Pension||5% of your total income is paid towards Pension.|
*Note: A refundable deposit is generally required for moving into an apartment of a full month’s rent.
The airport in Grand Cayman is Owen Roberts International Airport (GCM). With regular flights to the US, Jamaica, London, Cuba, Honduras and Canada and connecting flights through Miami, New York, Tampa, Kingston and several other main cities, Cayman is easy to reach no matter where you are in the world.