Tag: Chamber of Commerce Economic Forum
Minister hedges over tourism recovery for 2024
(CNS): The total number of visitors to the Cayman Islands by air and sea in 2023 easily exceeded the tourism ministry’s original target of 80% of the figures for 2019, the last full year before the borders were closed as a result of the pandemic. Last year, 429,284 stayover visitors arrived, which is 85% of […]
Premier U-turns on luxury property duty increase
(CNS): Plans to increase stamp duty on luxury properties appear to have been dropped just a few weeks after it was suggested by Premier Julianna O’Connor-Connolly. The possibility of increasing stamp duty was raised in parliament in the UPM leader’s budget address in December, with the implication that the new government was considering raising the […]
UPM ‘playing catch-up’ on public project spending
(CNS): Premier Juliana O’Connor-Connolly defended the UPM’s first budget, once again, on Friday when she told the business community that public spending on capital projects over the next two years was about “playing catch-up” with local infrastructure, which is necessary because of the significant population spike over the last few years. The premier, who has […]
Hew: ICT and transport weakness are priorities
(CNS): The state of Cayman’s information and communications technology (ICT) infrastructure and public transport are priorities that government must address now to help business rebound in the wake of the COVID-19 pandemic, Commerce Minister Joey Hew has said. The minister said that tackling these issues had already been on government’s agenda but it had to […]
Cayman tourism to depend on rich for early recovery
(CNS): Visitors to the Cayman Islands in the near future can expect their trip here to be more expensive than ever, given the increase in the cost of flights, health protection measures and general operations. As a result, the destination will be dependent on vacationers with deep pockets and those looking for a safe, but […]
Minister optimistic about 2021 recovery
(CNS): Finance Minister Roy McTaggart has predicted that the Cayman Islands’ economy will grow by 6.4% next year after the expected 7.2% decline in 2020, creating a v-shaped recovery. Speaking at the Chamber of Commerce 2020 Economic Forum on Friday, he said the growth estimates for 2021 were based on measures implemented by government to […]
Local economic forum to plot ‘better future’
(CNS): The Chamber of Commerce will be holding this year’s economic forum online as a result of the COVID-19 health crisis, the impact of which will be at the heart of the agenda. The central topic will be how Cayman can emerge better after this unprecedented situation. Finance Minister Roy McTaggart will deliver an address […]
