Business
New rules rolled out to regulate crypto assets
(CNS): Phase 2 of the new regulatory framework for virtual asset services such as crypto-currencies in the Cayman Islands came into effect this week with the implementation of several new pieces of legislation. These important technical amendments and new rules are being phased in to give impacted stakeholders time to become compliant with the prudential […]
Critical cruise info still missing 26 days from vote
(CNS): Less than four weeks before Cayman voters will be asked to say ‘yes’ or ‘no’ to the construction of cruise berthing facilities somewhere in Grand Cayman, campaigners advocating for a ‘no’ vote in the referendum say the people still don’t have access to important information. With no specific plan on the table, voters are […]
Beyond the breaking point: carrying capacity exceeded
Michelle Lockwood, CPR Cayman, writes: As the cruise berthing referendum approaches on 30 April 2025, it is crucial for the residents of the Cayman Islands to consider the concept of carrying capacity in evaluating the potential development of a cruise berthing facility. Carrying capacity refers to the maximum number of individuals an area can support […]
2025 sees early peak in cruise and stay-over guests
(CNS): Despite claims by the pro-cruise port lobby and Tourism Minister Kenneth Bryan that Cayman must have cruise berthing facilities to reverse the current decline in the number of ships visiting here, the latest statistics from the Department of Tourism show that cruise arrivals were up 22% in February compared to last year. In the […]
Half of insurance sector jobs held by Caymanians
(CNS): The international insurance sector contributes significantly to the Cayman Islands economy, with an annual impact of over $233 million in direct and indirect spending and the employment of 256 people, half of whom are Caymanians, according to a new report from the local industry body. The Insurance Managers Association of Cayman (IMAC) said the […]
Tourism ‘ideas’ grants given out to 14 applicants
(CNS): A scheme to hand out as much as $50,000 to people who came up with new innovative tourism attractions or businesses has seen 14 of the more than 100 applicants receive a government grant to turn their ideas into a reality. The tourism ministry issued an invitation to the public last September, and a […]
Cayman operators get terrible deals from cruise lines
(CNS): The decline in cruise passenger numbers in the Cayman Islands isn’t the only problem for people working in the sector, according to a new report by regional economist Marla Dukharan. The report shows that, compared to tour operators at most other destinations in the region, those here are getting a smaller slice of the […]
Cruise vote illogical without details, CPR founder argues
(CNS): One of the founders of the non-profit group Cruise Port Referendum Cayman (CPR), which is campaigning for a ‘no’ vote in the upcoming referendum on the development of cruise berthing facilities in the Cayman Islands, said the government’s decision to put the question to voters without giving them any idea of what those facilities […]
Reef expert to present cruise impact on marine life
(CNS): Renowned marine scientist and coral reef expert Dr Tom Goreau will be visiting the Cayman Islands this month to join the line-up of speakers at next week’s Cruise Port Referendum Cayman (CPR) rally to help voters understand the threats associated with the development of cruise berthing facilities on marine environments. Goreau is the president […]
Cruise ship delivers over 500 tourists to Cayman Brac
(CNS): Local businesses on Cayman Brac were given a chance to boost their takings Wednesday with the rare event of a cruise ship call. The MSC Explora I brought 651 passengers to the island and 505 disembarked using the ship’s lifeboats to spend several hours on shore where they shopped, dined, soaked up the charm […]
Regional economist to challenge cruise ‘wisdom’ at rally
(CNS): One of the Cayman Islands’ favourite regional economists will be examining the received economic wisdom about cruise tourism at a rally next week. Marla Dukharan has often praised Cayman’s economic policies, but she has challenged the concept that cruise tourism is a positive for the economy, and when she appears on the CPR platform next […]
