Expat exodus helped protect Cayman from COVID fall-out
Work permit numbers drop by almost 5,000
With double-digit unemployment in parts of the US and Europe, Cayman, despite the total shut down of its tourism industry, has come through the plague year of 2020 in comparatively good shape. Though there have been significant job losses, the majority of those have impacted the expat population. Economists, industry leaders and politicians are looking to 2021 with a sense of cautious optimism.
When waiter James Elchico boarded an emergency evacuation flight from Cayman to Manila in May, it was with a sense of relief.
He had lost his job weeks earlier as restaurants closed and the country locked down to prevent the spread of COVID-19.