Cayman Island’s Historical Facts & Information |
|
 |
Cayman is considered as the one of most fascinating and ideal vacation destination for the people looking for relaxing and enjoying every minute of their vacation. This place is known for its world class scuba diving spots, Bloody bay wall and many other attractions.
Christopher Columbus was the first to find the island in 1503; he provided the island with its first official name – Las Tortugas, but he did not land. It is assumed that the people from Sir Francis Dreke’s were the first to land on Cayman Island in 1585-86 while their expedition to the West Indies. British were the first arrivals when they acquired the island from Spain under the Treaty of Madrid, then the name of the island changed to Cayman, which was the name of the local crocodile species. The economy of the island largely depends on the tourism and financial sector which together represent around 70-80 percent of the total GDP of the island. As it sports a tax free status which has attracted numerous banks and companies. It is estimated that the population of the island is 47,900 in 2008. The currency of the island is Dollar and the code of the currency is KYD. It is subdivided into 100 cents. |
 |
