The Cayman Economy
One of the main economic activities of the early settlers was turtling. The abundant sea turtles provided not only food for the settlers but were also sold alive to passing ships as a source of fresh meat on long voyages.
Unsurprisingly, the turtles dwindled in number and mainstay of the Cayman economy shifted towards boat building and seafaring.
In the 1970’s, with the advent of modern transportation and communications, tourism and financial services became the predominant drivers of the economy. Grand Cayman is now the home of around 400 banks and thousands of offshore companies. Attractions such as Seven Mile Beach and world-class diving attract over a million tourists annually.