Ministry finds additional $4.9M to prop up tour operators

Cayman News Service


Stingray City, Grand Cayman

(CNS): The government is continuing to prop up tourism-related businesses until visitor numbers return to more sustainable levels, according to a release from the Ministry of Investment, Innovation and Social Development. As well as maintaining the direct stipend payments to over 2,000 displaced workers, the ministry has found money from the current budget to keep tourism-related businesses afloat.

During a Finance Committee meeting in March, MPs approved funds for the March payments to people on the Displaced Tourism Employees Stipend Programme and the Tourism Recovery Grant Programme.

According to the release, the committee also approved additional funding of $4.9 million for the business stipend and asset grant programme for Wildlife Interaction Zone (WIZ) land and watersports operators, and the other tourism-related micro and small businesses. 

The new money will be paid out by the Cayman Islands Centre for Business Development…