Earlier this year Chamber council members met with the Sister Islands Tourism Association in an effort to establish a consistent and long-term partnership that will help to drive investment to Cayman Brac and Little Cayman. It was felt that with the support of the Chamber members, businesses could be encouraged to think of the Sister Islands as a destination for conferences, retreats and board meetings as well as a possible home for outsourcing with Internet and communications technologies at a click of a mouse.
In response to these discussions, a Brac Business Weekend was developed to connect Grand Cayman residents interested in investment and business opportunities with Cayman Brac business leaders. This event, taking place over the weekend of 29-31 October, will prove to highlight the economic strengths and innovative possibilities available for local and overseas investors to these Islands.
The Brac has recently seen the refurbishment and rebuilding of many of its hotel accommodations and these will feature as part of the weekend with a Trade Show being held at the Alexander Hotel and a BBQ and reception at the Brac Reef Resort. Special tours and dive packages will also be available. The whole weekend will be dedicated to showcasing what both Islands have to offer the would-be investor and visitor.
Poised for growth and economic development these tranquil Islands bring exciting opportunities for anyone looking to rethink how and where they do business. With reliable, state-of-the-art communications and solid infrastructure, tourism is no longer the only economic option for the Sister Islands. With Government initiatives that include up to 75 per cent off work permit fees, 50 per cent reduction in Trade & Business License fees, duty concession of 100 per cent on building materials, concessions on stamp duty for land transfers and concession on specific licenses, it’s a wonderful opportunity for investors to take advantage of a door wide open.
With careful legislation and proper planning our neighbouring Isles can reap the benefits of inward investment and the joys of a booming economy. Tourism is an obvious industry to be explored but there are other avenues to be considered in the Information, technology and communication industries, film production, photo shoots, ecotourism and healthcare to name a few.
The Chamber is pleased to have SITA as a member and looks forward to working with them to promote both the Brac and Little Cayman as a tourism destination and exciting investment opportunity. The Brac Business Weekend is only the beginning of a number of initiatives that we hope will inform Grand Cayman business owners and other external investors to the possibilities and innovative qualities of economic development in these beautiful ocean jewels.
For those Chamber members
interested in finding out more about this and other Sister Islands growth initiatives contact [email protected] or call 9498090 ext. 122