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Meet the Cayman Islands: our History Part II

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In 1863, the British parliament officially made the Cayman Islands a dependency of Jamaica. When Jamaica achieved independence in 1962, the Islands opted to remain under the British Crown, and an administrator (in 1971 the title became Governor) appointed from London assumed the responsibilities previously held by the governor of Jamaica. 

Often referred to as "the islands time forgot," Cayman Islanders have evolved into hardy, independent souls who have always been involved with the sea. Many earned a living as fishermen, or crew members on foreign-owned ships, or migrated to Central America and areas in Florida - specifically Tampa and Port Arthur. GoCayman states, "In 1906 more than a fifth of the population of 5,000 was estimated to be at sea, and even as late as the 1950s the government annual report said that the main "export" was seamen whose remittances were the mainstay of the economy." 

After a devastating hurricane hit in 1932, few homes were left standing on Cayman Brac and Little Cayman, and many lost at sea. From this low point in Cayman history, a remarkably successful small island economy grew. After WWII and up to the early 1980s, the majority of Caymanian men, renowned for their seamanship, found work in the shipping industry, working on the large cargo ships and tankers criss-crossing the world. 

"Since those days the economy has grown in remarkable fashion, to be a model envied in other parts of the region. Over the last 30 years, governments have pursued policies aimed at developing the infrastructure, education, health and social services of the Islands, fostering the stability which is an important factor in the continued growth of Cayman's two main industries, tourism and financial services," according to Go Cayman. 

In 1950, an Englishman built the first hotel on Seven Mile Beach. Cruise ships came in the late 1960's, and by the 1990's, the cruise industry became a major contributor to the Islands' economy. 

By remaining a Crown Colony, the Islands obtained political stability and a foundation for offshore financial services. In 1966, the Cayman Legislative Assembly passed the Banks and Trust Companies Law. Much of the initial success of its financial services sector is attributable to Vassel G. Johnson, since knighted by Queen Elizabeth. 

Many thanks to Cayman.Com for help with this post. 

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