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Business
ESO says Cayman residents spend $3B on consumption in 2023
The most recent Household Budget Survey 2023 report issued by the Economics and Statistics Office shows that Cayman Islands residents spent $3 billion on consumption expenditure. Breaking down the figures in this report is Compass News’ Philipp Richter.
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Cayman Compass
Half of government’s revenue comes from financial services
Fees from Cayman’s growing financial services sector accounted for roughly half of all government revenue in the first six months of 2025.
Government raked in more than $350 million from a mix of company fees, mutual and private fund fees, partnership fees, and bank, trust, insurance and securities licences.
That’s an increase of $51.5 million compared with the same period last year.
Rate hikes, which came into force in January, and solid business growth in the sector have helped swell government’s coffers in the first half of the year.
The influx of cash is a welcome shot in the arm at a time when government is spending more than ever and is forecast to be in a deficit position by the end of the year.
