An economic study carried out by Capital Economics last year found that our financial services industry employed around 6,700 people — just 7.5% of the population. While the financial industry has added only 1,000 jobs in 18 years, it has added even fewer work permit holders and permanent residents — just 750 according to the same studies — in a period during which the non-Caymanian labour force increased by a staggering 31,000. And in a jurisdiction without income tax, it comes overwhelmingly from financial services, which contributed CI$510 million in direct government revenue in 2024 alone, with another CI$225 million supported indirectly through the spending of our member firms, their employees and the families they support.