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Latest Indicators

Estimated Gross Domestic Product:
3.8%, Jan - Mar 2022 / Jan - Mar 2021
Gross Domestic Product Actual:
4.0%, Dec 2021
Average Consumer Price Index (CPI):
9.5%, Dec 2022 / Dec 2021
Census Population:
71,105, as of Oct 2021
2021 Life Expectancy at birth:
2021 Life Expectancy at birth - Male:
2021 Life Expectancy at birth - Female:
Estimated Population:
81,546, Year-End December 2022
Unemployment Rate:
2.1%, as at December 2022
Merchandise Imports ($):
17.8% Jul - Sep 2022 / Jul - Sep 2021
Balance of Payments Current Account Deficit % GDP:
13.6% of GDP, Dec 2021
Home / News / Tourism recovery drives 3.8% growth in Caymans’ economy for the first quarter of 2022

Tourism recovery drives 3.8% growth in Caymans’ economy for the first quarter of 2022

Economic activity in the Cayman Islands, as measured by the gross domestic product (GDP) in real terms, is estimated to have increased by 3.8% in the first three months of 2022.

Indicators suggest that the growth in economic activity was broad-based and largely driven by growth in tourism and transport-related sectors. The hotels and restaurants sector had an estimated growth of 27.8 percent, while transport and communication expanded by an estimated 14.3 percent. The ‘other services’ sector also showed a notable expansion of 9.1 percent. The financing and insurance services sector, which remains the largest contributor to GDP, grew by an estimated 2.5% for the quarter.

Despite rising price pressures, robust demand both locally and internationally continues to spur economic activities in the Islands.

The central government recorded an overall surplus of CI$215.9 million in the first three months of the year. This resulted from revenue of $446.9 million and expenditure of $231.0 million.

The central government’s outstanding debt fell anew and settled at $218.0 million as at March 2022, lower than the $243.9 million recorded as at March 2021.

For more information on the The Cayman Islands’ First Quarter Economic Report 2022,” please visit