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Cayman Economic Growth and Balance

Cayman Economic Growth and Balance

It’s no wonder why the Cayman Islands has seen such amazing growth and prosperity just within the last few years. Gorgeous beaches, beautiful islands, a simplistic, beachy way of life. What more could one possibly ask for?! In just the early part of 2018, the Cayman Islands Gross Domestic Product has grown by 4 percent. Rapid Growth can have pros and cons like most things. This growth is buoyed by an increase in tourism, construction, and an exceptional number in new company registrations on the island. The Cayman Islands First Quarter Economic report records economic expansion across all sectors of the economy! However, this has driven the price of the cost of living on the Islands. Although an increase of the price of living sounds like a bad thing, this is ultimately how the island is keeping financial stability, and the trend is expected to continue into the foreseeable future.

Overall,the economic picture for the Cayman Islands is good, with the estimated 4 percent growth eclipsing the 2.9 percent recorded for the same period a year ago.In the first three months of 2018, the ESO report states, tourist arrivals grew 20.6 percent, new company registrations went up 41.7 percent, and partnership recordings rose by 28.7 percent. This is awesome news for companies like EightPoint Technologies! If the island life and cool company perks sound right for you, reach out to us! We are currently relocating candidates from all over the world to come join the Eightpoint team! Send your resume to recruiting@eightpoint.ky and follow us on FacebookInstagramLinkedin and Twitter. Be sure to check out our blog to never miss out on the Eightpoint lifestyle!