More than 20 per cent of males earn more than CI$3,000 per month while only nine per cent of females are in the same income bracket.
On the other hand, the survey shows that females tend to be more highly educated than men on average. Almost 40 per cent of women had achieved an education at the college/University level compared to only 33 per cent for men.
Those interesting titbits were learned during a Tower Omnibus Survey, the largest consumer research survey ever conducted in the Cayman Islands.
The survey, which was carried out by Tower Marketing achieved a milestone target of 1,000 respondents.
The survey provides results for a set of over 30 core demographic questions focusing on topics ranging from age groups, Internet usage, lifestyle habits, and education levels among others. It also included privately purchased questions from some of Cayman’s biggest companies.
‘With over 30 questions and over 300 options there is a wealth of information gathered through this survey,’ said Carolyn Lawe Smith of Tower Marketing. ‘The questions in the core section were intended to maximize the value of information to businesses for their own marketing purposes’, Smith adds.
One of the key features of the Tower Omnibus is the extent to which it ensured random sampling to gain maximum representation of the Cayman Islands population, said Paul Byles local economist and consultant who managed the survey.
‘We used a computer program to create a randomly generated list of over 30,000 telephone numbers to choose from. These numbers included every prefix issued by the local telecoms authority to capture both fixed lines as well mobile phones in the Cayman Islands.
‘This approach also ensured that respondents with telephone numbers from every telecoms company licensed in the Cayman Islands had an equal chance of being contacted’.
The results of the survey are confidential to clients.
Tower also revealed a number of impressive statistics relating to the workings behind the survey exercise as well. The exercise entailed eight market researchers, more than 300 hours of interviewing, 55 questions encompassing more than 750 options and over 426 charts and tables showing the results of the data.
‘We believe that this is arguably the most powerful set of market intelligence information available in the Cayman Islands at this stage’, said Byles.
Anyone interested in a confidential copy of the Tower Omnibus Survey results should contact Simon Fenn or Carolyn Smith at Tower Marketing 946 6000 or via email at [email protected]. Both standard and customized reports are available. The survey will be conducted every six months.