Cayman Islands: New business density (new registrations per 1,000 people ages 15-64)

Key figures

What the numbers say

In 2024, Cayman Islands' new business density (new registrations per 1,000 people ages 15-64) rose 26.47 on 2023 (from 174.54 to 201.01).

Across the 17 yearly changes before that (2007 to 2023), the average change was −9.5 and a typical year strayed about 55.55 from that (the standard deviation). This year's change was 0.6 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 90.29 in 2021 and the biggest yearly fall was 108.69 in 2009. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 there is no clear straight-line trend: a straight line explains 20% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Cayman Islands had the 1st highest value of the 127 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Cayman Islands in the 2024 ranking

• Isle of Man — 2nd of 127: 33.58
• Hong Kong SAR, China — 3rd of 127: 28.85
• Estonia — 4th of 127: 26.76

What this measures

The number of newly registered firms with limited liability per 1,000 working-age people (ages 15-64) per calendar year.

Limitations: The definition of entrepreneurship used is limited to the formal sector. Yet, it should be noted that the exclusion of the informal sector is based on the difficulties of quantifying the number of firms that compose it, rather than on its relevance for developing economies. Data collected from economies categorized as offshore financial centers by Eurostat are excluded from the analysis, because registered entities in these countries may not fit the objective of the Entrepreneurship Database aiming at measuring formally registered companies with actual economic activities.

Regional and income-group figures are computed by the World Bank as a unweighted average.

All 19 values

New business density (new registrations per 1,000 people ages 15-64) in nearby economies

• Antigua and Barbuda — 4.16 (2024)
• Argentina — 0.52 (2024)
• Barbados — 8.11 (2024)
• Belize — 13.01 (2024)
• Brazil — 6.67 (2024)
• Chile — 9.09 (2023)
• Colombia — 2.22 (2024)
• Costa Rica — 6.31 (2024)
• Dominica

More private sector & trade data for Cayman Islands

• International tourism, number of arrivals — 660,000 (2020)
• Import unit value index (2015 = 100) — 137 (2025)
• Export unit value index (2015 = 100) — 108.4 (2025)
• International tourism, receipts (current US$) — US$964 million (2019)
• Merchandise imports (current US$) — US$2.11 billion (2025)
• Merchandise exports (current US$) — US$25 million (2025)
• New businesses registered (number) — 11,197 (2024)
• Merchandise trade (% of GDP) — 26.44% (2024)
• International tourism, expenditures (current US$) — US$299 million (2019)

Every indicator for Cayman Islands is on the Cayman Islands data page.

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Cayman Islands's new business density (new registrations per 1,000 people ages 15-64)?

201.01 in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2006?

It is down 40.18% from 336.04 in 2006 (2.81% a year on average, compounded). The highest value was 377.04 in 2007 and the lowest 174.54 in 2023.

How does Cayman Islands rank?

1st highest of 127 economies with data for 2024.

Is the latest change in new business density (new registrations per 1,000 people ages 15-64) unusual for Cayman Islands?

In 2024, Cayman Islands' new business density (new registrations per 1,000 people ages 15-64) rose 26.47 on 2023 (from 174.54 to 201.01). Across the 17 yearly changes before that (2007 to 2023), the average change was −9.5 and a typical year strayed about 55.55 from that (the standard deviation). This year's change was 0.6 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator IC.BUS.NDNS.ZS, licensed CC BY 4.0. Original source: Entrepreneurship Database, World Bank (WB), uri: https://www.worldbank.org/en/programs/entrepreneurship Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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