Cayman continues decline in global centre rankings

| 26/09/2011

(CNS): Although Cayman has improved its ratings in the Global Financial Centres Index, it has still fallen in the rankings a further eight places. In the 10th edition of the publication which uses peer information to measure and rank all of the centres in the world involved in the financial industry on a variety of indicators, Cayman is now placed at position 46 in the overall table but its ratings score has improved from 587 to 610. The latest report points out that offshore centres have suffered significant reputational damage in the past three years but many are now recovering.

The report said that the recovery was down to respondents to the GFCI questionnaire recognising "the contribution these centres can make to global finance.”

Jersey , Guernsey , Isle of Man , Bermuda and the British Virgin Islands all remain above Cayman in the table but Cayman, along with all the leading offshore centres, achieve higher scores. The report revealed that the improvement in the scores of the offshore centres appeared to be down to the questionnaires supplied by other offshore centres and not coming from onshore jurisdictions.

The report found that once again the top four financial centres were London, New York, Hong Kong and Singapore. The report said this confirmed their strengths in all five areas of competitiveness. “It also confirms our belief that a genuinely top global centre is competitive in all areas – successful people like to live and work in successful centres,” the report stated.

See the full report here

Category: Finance

Comments (11)

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  1. Anonymous says:

    Can't blame the expats. It is only the local idiots that have a say in the running of the country. You vote, you fuel corruption, you embrace the BS, you allow Big Mac to run the island purely for personal gain.

    You've brought it on yourselves by being incompetent, foolish, bigoted and small minded both at home and at work.

    Like most of the other quality expats, I'm winding down the days to get out of here and back to reality in one of the top 45 jurisdictions! And why not, we get treated like dirt by government, immigration etc so like everyone else we'll save our cash and get ready to jump ship.

  2. Anonymous says:

    The report found that once again the top four financial centres were London, New York, Hong Kong and Singapore. The report said this confirmed their strengths in all five areas of competitiveness. “It also confirms our belief that a genuinely top global centre is competitive in all areas – successful people like to live and work in successful centres,” the report stated.

    Cayman has lost it success when it began to import cheap labour and reduce salary to almost slave wages, the decline will continue until this is addressed. 

  3. Anonymous says:

    Hey Bush, you ordered another shipment of failure? It’s here…

  4. Island Prophet says:

    The PPM is to be blamed for this, because they are alwas casing some problem to put us in the lime light of Global movements.  The bloggers is next, those are expatriates who could,nt care less because after 7 years they muct go.  Not one scrap of remorse.

    • Anonymous says:

      Oh be quiet, UDP parrot.

    • Anonymous says:

      Island Prophet.  You're going to need to step up your game if you plan on making a real contribution to the discussion here.

       

  5. EYE ON THE ISLAND says:

    Isn't this what the UK wants?

    • Head in the .. says:

      No.  Its what Caymanians want.  Aren't they the ones in charge?  Good job guys.  All your hard and well payed for work is finally paying off.

  6. Anonymous says:

    It  is a good thing that the folks doing the rankings never heard one of the Premier's rants.

  7. Anonymous says:

    Sharpen those hooks.