When you hear “Cayman Islands,” the words “offshore tax haven” probably come to mind. But the Cayman Islands are so much more than the shelter of unreported income it has come to be recognized for (although, as of last year, the country has eliminated tax loopholes for individuals; this does not apply to corporations - yet).
Held this year in St. Thomas, USVI, the State of the Industry Conference (SOTIC) is the Caribbean’s leading tourism conference, bringing together movers and shakers from the public and private sectors. With the theme “Realizing the Vision: Positioning Caribbean Tourism for Major Change,” the annual event was organized by the Caribbean Tourism Organization (CTO) in collaboration with USVI’s Department of Tourism and was held at Marriott Frenchman’s Reef and Morning Star Beach Resort. “The theme dovetails nicely with the organization’s own vision for Caribbean tourism, which is to position the Caribbean as the most desirable, year round, warm weather destination,” said Hugh Riley, secretary general of the CTO. “If we seriously put our resources together, we could certainly achieve the 30 million visitor goal that we have our eye on.” Last year, the Caribbean received 25 million stay-over visitors with arrivals up by 4.3 percent during the first half of this year. If the pace of growth continues at the current rate, the region would reach the target of 30 million visitors by 2017. www.OneCaribbean.org