Private sector projects create long-term benefits for Cayman Islands economy
Private sector projects “create long-term benefits for the Cayman Islands economy” according to Deloitte study
A newly published financial analysis study from the world’s leading financial advisory firm Deloitte reveals the findings that private sector projects “create long-term benefits for the Cayman Islands economy”, reports Crown World (http://www.crownworld.com/). The news that developments such as the Dart Realty West Bay Corridor Project will significantly stimulate growth in Cayman’s gross domestic product, employment and government revenue will be welcomed by those looking for Cayman land for sale as an investment purchase.
When international real estate investors carry out due diligence into a country’s suitability, the economic stability and future growth of that country are some of the primary factors to consider. If a country shows not only a healthy economy, but also the ability to further strengthen that economy through private sector investment – investment which is clearly forthcoming – that is music to the ears of the real estate investor. This is the case with the Cayman Islands, as the Deloitte study reveals, which goes some way in explaining the great appeal of land investments in the Cayman Islands.
The Deloitte study was commissioned by the Dart Realty group to prove to the public and to the Cayman government that the group’s West Bay Corridor Project will be beneficial to the Islands overall. This ambitious real estate development project includes the renovation of the Courtyard Marriott Hotel, the expansion of the Public Beach on West Bay Road and 20 acres of Dart-owned land being given over to the government to be used for parks and educational facilities. While the Deloitte analysis indeed found this project to be a positive driver of growth and revenue, the study went much further, stating that “significant economic stimulus in the near term” would be created “through private sector participation projects”.
The study concluded that the contributions of the West Bay Corridor Project “are significant in both the stimulus period and the longer-term, with respect to GDP, employment and government revenue” and that the project shows “the importance of private sector participations as significant stimulus programmes that create long-term benefits for the Cayman Islands economy.” According to the report, projects such as these “will better position the Cayman Islands for increasing its share of the tourism market when growth resumes in that industry globally.”
Real estate on the island, including Cayman land investments, can therefore only benefit from the many exciting private sector projects already underway and in the pipeline for the Cayman Islands. For further information on Cayman land for sale, visit http://www.crownworld.com/.
