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. The Cayman Islands (Overseas Territory of the UK) are a three-island group (Grand Cayman, Cayman Brac, Little Cayman) in Caribbean Sea, 240 km south of Cuba and 268 km northwest of Jamaica. The climate is tropical marine with warm, rainy summers and cool, relatively dry winters. The official language is English. The main religion is Christianity. The economy of the Cayman Islands is mainly fuelled 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. Business dress is generally conservative, comprising a lightweight suit for business meetings. Business meetings are generally conducted in English. Women hold position at the highest levels. The security risk for expatriates in the Cayman Islands is low. The risk of crime is low. Other risks include hurricanes and tropical storms. The currency of the Cayman Islands is the Cayman Islands Dollar (KYD) which is fixed to the US Dollar. All major credit cards are accepted in hotels, restaurants and local shops. Medical facilities are good, however the cost of treatment for expatriates can be high. Serious or complex medical treatment may require evacuation which can be expensive. Cases of Chikungunya virus have been reported. The population of George Town is 31,000 (2019 est.), while the inflation rate (CPI) is 3.5% for the Cayman Islands as at September 2018. Xpatulator Hypothetical Tax for the Cayman Islands is based on the current personal income tax rate of 0% as there is currently no personal income tax.
Cost Of Living
The cost of living for expatriates / professional migrants in In George Town, the cost of each basket, based on local prices, compared to the international average, is categorized follows (Exact cost of living percentages only available in personalised reports): George Town as at 1 April 2019 is very high in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: High 2) Clothing: Very High 3) Communication: Very High 4) Education: Very High 5) Furniture & Appliances: Average 6) Groceries: Very High 7) Healthcare: High 8) Household Accommodation: Very High 9) Miscellaneous: Average 10) Personal Care: High 11) Recreation & Culture: High 12) Restaurants Meals Out and Hotels: Very High 13) Transport: Very High George Town is for example 66.4% more expensive than Houston TX for groceries, 87.1% more expensive for household costs than Kuala Lumpur, and 173% more expensive for transport costs than Dubai. The hardship premium for George Town for an expat from Perth, is for example 10%, i.e. host location (George Town) premium of 20% minus home (Perth) location premium of 10%. George Town is ranked as a some hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in George Town? Register subscribe to your home location and George Town and run your personalised reports.