CAYMAN ISLANDS – The mainstay of Caribbean businesses are usually tourism, remittances and some other, but lesser, industries. The tiny tax havens overwhelmingly rely on the financial sector and their underwhelmingly supported tourism pillar. Jamaica was even called Summerland on some postage stamps that are fast becoming obsolete like competent economic thought.
Caribbean Tourist Destinations
In recent times, events have revealed attempts to kill the golden goose that reliably laid eggs every year. This supported the nations and even provided an opportunity to recklessly increase budgets massively every year.
For Jamaica and other tourist destinations, crime and murder are the greatest evils to tourism. They also impact foreign pensioners who have found great acceptance in Central America from Panama to Belize. The missing goose.
In Belize and other tourist stops, there have been instances of tourists being run over by watercraft, Cayman included. Additionally, hotel guests have been asphyxiated by carbon monoxide, such as in the Bahamas and Belize. Cayman is even reluctant to post life guards on public beaches, which have been shown to reduce drownings in Jamaica. In some cases, there have been murders and kidnappings, or both.
Foreign visitors not only expect safety, but a vigilant law enforcement system applied to careless deaths.
Mass killings, once unknown, are becoming a regular feature of Caribbean tourist destinations. This is only exceeded by the American program of targeted assassinations. To the unaware, this is not a novelty. It is given the Colombian decapitation of guerrilla leadership in the past decades by air, land, and river, even until recently.
The lady does protest too much, methinks.
Jamaican returning residents could have provided a greater and more sustainable pillar of the economy than remittances. However, this opportunity was washed away by crime, bureaucracy, and simple-minded political incompetence. They are not alone compared to the Caribbean islands and CARICOM members also beset by joblessness, gang warfare, poor electricity grids, and lack of economic diversification. The crime platforms.
Tax Haven
It is the same in the tax haven mono economies. One of which recently began to pull in the welcome mat for successors to the same people who invented and grew their tax-light economies. The Cayman Islands is a tax haven, invented, developed, and maintained by mostly British legal professionals.
These professionals came to Cayman in the independence years and convinced local politicians that a golden goose awaited them. This was until recently, when massive increases have been announced for their most precious sector.
There are many other, cheaper tax havens who have quietly come off the grey list but recognize the real offshore source of this business.
The tax haven economies can disappear at the stroke of the American president’s pen.
Tax haven or flight capital is notoriously sensitive to poorly run countries and can disappear overnight by simply pressing enter.
A dead goose cannot lay eggs.
