The Cayman Islands Tourism Association has declared 2017 “The Year for Tourism,” a declaration that comes in the wake of improving economies in Cayman’s North American markets and a long-awaited recovery at home, boosting arrivals, room inventories, new flights by Southwest Airlines, a new Ministry of Tourism outreach to South America, a residential building boom and plans for at least five new hotels.
In a briefing to financial services chiefs in New York last month, Cayman Finance CEO Jude Scott offered a modest headline: The jurisdiction is looking at streamlining compliance issues using fintech, a software-based financial-tracking system.
The construction industry has rarely been acknowledged as the third pillar in a market driven by financial services and tourism, but Ian Pairaudeau, general manager at McAlpine Ltd., has little patience with that idea.
Although 2016 was far from a breakout year for hedge funds, performance improved over a lackluster 2015, and managers have a more positive outlook for 2017 as stock markets are boosted by President-elect Donald Trump’s plans to lower taxes, deregulate and spend on infrastructure.
2016 has been a tumultuous year. Democracy itself has faced a crisis, and the political establishment has been shaken. Voters in the U.S. and the U.K. expressed their desire for change, regardless of the form this change is going to take and at times fueled by xenophobic sentiment.
2016 heralded unprecedented shifts in our global political landscape. The watershed moment, it can be argued, was Britain’s vote to abandon the 23-year-old European Union. As news reports of this historic vote surfaced, shock waves ricocheted across global financial markets, sending all the major indices into tailspins.
Thanks to a series of new record highs, the leading U.S. stock market indices had a very successful end of the year. The recent momentum also puts the market in a good position heading into 2017.
The Cayman Islands Court of Appeal has recently confirmed that the proprietors of a strata corporation registered under the Strata Titles Registration Law (STRL) have the power to govern, control and manage the strata through by-laws adopted in accordance with the STRL.
The year 2016 will be remembered for Brexit and for the election of Donald Trump to become the 45th president of the United States, for the media and pollsters getting it wrong, for experts being out of touch with “regular” people and for the establishment being oblivious to the extent of public discontent.
A surge in demand in the most popular segment of Cayman’s rental property market has caused prices to rise by more than 10 percent in the last 12 months, real estate experts say.