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Currency Guide for the Cayman Islands (ISO Code: KY)

Travelers seeking a mid-range experience in the beautiful Cayman Islands should budget approximately $2,000 to $2,500 for a one-week stay. This estimate considers accommodation, meals, activities, and transportation. Typical daily expenses you might encounter in the Cayman Islands include:

• 🍽️ Meal at a local restaurant: CI$15–CI$25

• ☕ Coffee: CI$3–CI$5

• 🚌 Public transport fare: CI$2-3

• 📱 Prepaid SIM card: CI$30

• 🏨 Budget hotel or Airbnb: CI$100–CI$150 per night

Overall, the Cayman Islands can be considered expensive compared to many global destinations. In comparison, a similar trip in the United States may run roughly the same or slightly less depending on the region. Conversely, travelers from the UK may find that the Cayman Islands are noticeably pricier, owing to the strength of their currency and higher costs of local goods and services.

Insights for Expats in the Cayman Islands

For expatriates planning to settle in the Cayman Islands, typical monthly living costs can range from CI$3,500 to CI$5,000, depending on lifestyle choices and accommodation standards. This budget would cover rent, utilities, groceries, and occasional dining out. It’s essential to have a plan in place for banking and money transfers. Many locals and expats prefer using local banks, which provide easy access to the Cayman dollar (CI$), the island’s official currency, while international services like Wise and OFX can offer more competitive exchange rates for sending and receiving funds.

Regarding the use of cards, most establishments accept major credit cards, but it is wise to keep some cash on hand for small purchases or local markets. When it comes to exchanging money, local currency exchange offices may offer less favorable rates than online transfer services, making platforms like Wise or OFX a more cost-effective option for larger transfers. By being strategic about banking, expats can better manage their finances while enjoying the perks of island living.