The latest report from Cayman Enterprise City estimates that the jurisdiction’s tech-focused special economic zone generated US$152.3 million of positive economic impact in 2025, up from US$135.9 million in 2024.
According to the Cayman Enterprise City Socio-Economic Impact Assessment 2025, which was prepared by regional economist Marla Dukharan, 2025’s contribution took the zone’s total cummulative economic impact to US$1.23 billion since 2012.
The report looks at a broad measure of economic impact which considers local procurement, local salaries, domestic consumption and construction and real estate impact. For example, salary-driven local consumption reached US$51.6 million in 2025, up 25.9% from US$41.0 million in 2024. Cayman Enterprise City local spending also rose, reaching US$10.7 million in 2025, from US$8.3 million in 2024.
It’s a noteworthy journey from a project that was born from crisis. In 2010, with Cayman’s economy reeling from the impact of the great financial crisis, the UK encouraged Cayman to diversify its economy by creating a special economic zone. That led to the passing of the Special Economic Zones Law in 2011.
The growth is being fuelled by a sharp uptick in companies using Cayman Enterprise City. There were 444 active companies in the zone in 2025, up from 375 in 2024. The increase in special economic zone companies resulted in higher revenues for government, which rose to US$4.8 million in 2025, from US$4.5 million in 2024.
Those fees are likely to increase further in the coming years, as in late 2025 the government announced increases to the Special Economic Zone Trade Certificate Fees.
Wider boom
The increase in companies isn’t just down to what’s happening at Cayman Enterprise City. A raft of legislation has also made the jurisdiction more attractive to international tech projects.
In 2017, Cayman passed the Foundation Companies Act. Although originally intended as a tool to help Cayman’s family office offer compete with Swiss foundations, it has since become popular with Web3 companies.
That was followed by another piece of key legislation, the Virtual Asset (Service Providers) Act, which was passed in 2020 and amended in 2024. Cayman Enterprise City is now home to more than 100 virtual asset-focused businesses.
“Tourism and financial services have long been recognised as the Cayman Islands’ two core economic pillars, but the data now shows that this story is incomplete,” said Dukharan.
“Cayman Enterprise City and the Special Economic Zone companies they serve have become a meaningful third economic pillar, one that connects Cayman to high-growth global industries, generating sustained local economic activity, and creating pathways for Caymanians into the knowledge economy of the future,” Dukharan added.
Related Videos
