Cruise tourism: an economic engine to exploit in the Cayman Islands

Often dismissed as a low-spending sector, cruise tourism, if leveraged properly, can be a crucial source of revenue, especially in high-value destinations like the Cayman Islands.

Stephen challenged the idea that cruise ship visitors contribute little to the economy, emphasizing that strategies to capture their spending can generate significant benefits. "Increased numbers of tourists have been traveling to the Caribbean, especially on some of the newer and larger ships," he noted, underscoring the importance of offering seamless and engaging land experiences to maximize visitor spending.

Stephen also highlighted the growing presence of superyachts, such as those operated by Four Seasons and the luxury experiences endorsed by the Ritz-Carlton, as a key factor for the region. Attracting premium vessels, both large and small, to the Cayman Islands opens the door to long-term financial benefits. "These are potential long-term partners in Grand Cayman's financial sector," Stephen stated, highlighting the untapped potential of cruisers, not only as repeat visitors but also as future investors in the island's business and financial services sectors.

Crucially, Stephen emphasized the need for dedicated piers, comparing their importance to that of roads and highways in facilitating economic growth. He expressed surprise that Grand Cayman remains one of the few major cruise ports in the world without such infrastructure, but he was not surprised that its absence has contributed to a sharp decline in arrivals and land-based spending. "Installing piers under the guidance of robust environmental assessments is a no-brainer today," he stated. "It's not just about economic benefits, but also about the environment and safety. A well-designed pier is much safer than having cruise ships at anchor with propellers running continuously in the harbor."

Stephen, who is also a commercial pilot and has advised several Caribbean governments on economic development and infrastructure, reiterated the urgency of action. “Cruise tourism is not a second-tier industry, but an economic opportunity waiting to be fully exploited. With strategic planning, the Cayman Islands can transform its relationship with cruise visitors, ensuring the destination fully reaps the benefits of this lucrative market.”

Elliot Solomon, Executive Program Manager for the Cayman Islands Cruise Tourism Association, welcomed Stephen's ideas, calling them "common sense and practical economic reasoning." He added, "We must take note: ignoring the potential of cruise tourism could mean losing millions in untapped revenue and further disrupting the lives of Caymanian business owners."

Caymanians will go to the polls on April 30 to elect a new government and vote in a referendum to support or reject cruise ship docking infrastructure.

Source: Cruise Tourism Association (ACT) in the Cayman Islands.