Travel services in Cayman Islands
Cayman Islands: Travel services was 17.8% in 2024. ▼ Falling
Travel services in Cayman Islands, 2016–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service exports, BoP.
Analysis
The most recent figure for travel services in Cayman Islands is 17.8%, measured in 2024.
The figure is down 4.6% on the previous year and down 22.7% over ten years.
Over the whole period, travel services in Cayman Islands peaked at 24.4% in 2019 and was at its lowest, 1.1%, in 2021.
That places Cayman Islands 145th out of 198 countries with data for 2024, putting it in the middle of the range.
Travel services in Cayman Islands, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 2016 | 23.0% | — |
| 2017 | 23.0% | -0.3% |
| 2018 | 23.9% | +4.0% |
| 2019 | 24.4% | +2.1% |
| 2020 | 7.5% | -69.2% |
| 2021 | 1.1% | -84.9% |
| 2022 | 15.8% | +1287.1% |
| 2023 | 18.6% | +18.3% |
| 2024 | 17.8% | -4.6% |
Cayman Islands compared with similar countries
- Cayman Islands's 17.8% is below the median for high income countries, which is 26.8%, 66% of the median. (72 countries reporting)
- Cayman Islands's 17.8% is below the median for Latin America & Caribbean, which is 54.7%, 33% of the median. (37 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 23.6% | 23.0% | 24.4% | 4 |
| 2020s | 12.2% | 1.1% | 18.6% | 5 |
Countries ranked near Cayman Islands
- 142 Serbia 19.0% compare
- 143 Tajikistan 18.6% compare
- 144 Mozambique 18.1% compare
- 146 United States of America 17.3% compare
- 147 Latvia 17.0% compare
- 148 Philippines 16.9% compare
More economy & growth data for Cayman Islands
- Foreign direct investment, net inflows (BoP, current US$), annual -73.72 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 3.18 billion BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita -23,390 BoP, current US$ per person (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.2243 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), gaps -1.74 billion BoP, current US$ (2024)
- Inflation, GDP deflator 2.4% (2024)
- Total reserves 252.10 million includes gold, current US$ (2024)
- Services, value added 6.72 billion current US$ (2024)
- Services, value added 5.60 billion current LCU (2024)
- Services, value added 5.48 billion constant 2015 US$ (2024)
Frequently asked questions
- What is travel services in Cayman Islands?
- Travel services in Cayman Islands was 17.8% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest travel services recorded in Cayman Islands?
- The highest recorded value was 24.4% in 2019.
- What is the lowest travel services recorded in Cayman Islands?
- The lowest recorded value was 1.1% in 2021.
- How does Cayman Islands rank for travel services?
- Cayman Islands ranks 145th out of 198 countries with data for 2024.
- Is travel services rising or falling in Cayman Islands?
- Over the last ten years it is down 22.7%. The long-run trend across the full record is falling.
- Where does this Cayman Islands data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Travel services (% of service exports, BoP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 9 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Travel services cover goods and services for own use or to give away acquired from an economy by nonresidents during visits to that economy, or acquired from other economies by residents during visits to these other economies. This indicator is expressed as a percentage of service exports which are services provided by residents to non-residents.