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Vacation rentals can also negatively affect local communities in a number of ways. While not the major cause of limited affordable housing, vacation rentals negatively affect the long-term housing market in local communities, especially tourism communities. As more short-term rentals increase, the availability of long-term units decreases.
The Cayman Islands (/ ˈ k eɪ m ən /) is a self-governing British Overseas Territory, and the largest by population.The 264-square-kilometre (102-square-mile) territory comprises the three islands of Grand Cayman, Cayman Brac and Little Cayman, which are located south of Cuba and north-east of Honduras, between Jamaica and Mexico's Yucatán Peninsula.
Camana Bay is a small town north of George Town, Cayman Islands. It has a transient daily population of around 2,500; and has many amenities, including restaurants, cafés, shops, a cinema, a gym, and many office blocks with a few banks. There are also a few blocks of apartments with terraced views, as well as healthcare centers and a supermarket.
The Cayman Islands' tax-free status has attracted numerous banks and other companies to its shores. More than 92,000 companies were registered in the Cayman Islands as of 2014, [13] including almost 600 banks and trust companies, with banking assets exceeding $500 billion.
The Ritz-Carlton Grand Cayman is a luxury hotel in Georgetown, Cayman Islands, operated by the Ritz-Carlton Hotel Company.It lies on Seven Mile Beach.The hotel was nominated for the Caribbean's Leading Hotel Residences and the Caribbean's Leading Hotel Suite in 2013 at the 20th World Travel Awards.
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