George Town is the capital of the Cayman Islands. The Cayman Islands has more registered businesses than people. The majority of the population resides on Grand Cayman, followed by Cayman Brac and Little Cayman. The Cayman Islands is a self-governing British Overseas Territory, the largest by population, in the western Caribbean Sea. The 264-square-kilometre (102-square-mile) territory comprises the three islands of Grand Cayman, Cayman Brac and Little Cayman, which are located to the south of Cuba and north-east of Honduras, between Jamaica and Mexico's Yucatán Peninsula. The capital city is George Town on Grand Cayman, which is the most populous of the three islands.
The Cayman Islands is considered to be part of the geographic Western Caribbean Zone as well as the Greater Antilles. The territory is considered a controversial major world offshore financial haven for international businesses and wealthy individuals, largely as a result of the state not charging taxes on any income earned or stored. The economy of the Cayman Islands is dominated by financial services and tourism, together accounting for 50-60% of Gross Domestic Product. The nation's low tax rates have led to it being used as a tax haven for corporations; there are 100,000 companies registered in the Cayman Islands, more than the population itself. The Cayman Islands have come under criticism for allegations of money laundering and other financial crimes, including a 2016 statement by former US president Barack Obama of a particular building as "tax scam" for housing 12,000 corporations.
Cayman Islands is rated Beta − by the Globalization and World Cities Research Network (GaWC) which evaluates and ranks the relationships between world cities in the context of globalisation. Beta level cities are cities that link moderate economic regions to the world economy.
Cayman Islands is the #78 city in the world according to the Global Financial Centres Index (GFCI) which evaluates and ranks the competitiveness of the major financial centres of the world according to a wide range of criteria – Human Capital, Business, Finance, Infrastructure and Reputation.
Cayman Islands has a population of over 64,174 people. Cayman Islands also forms part of the wider George Town metropolitan area which has a population of over 64,174 people.