A maritime industry expert told Cayman 27 investing in marinas and yacht infrastructure could help the country harness an untapped market for growth.
Karen Kokabi, founder or OreCoal and here for Cayman Maritime Week, suggests Cayman could make George Town Harbour more friendly and accessible to yachts and mega-yachts by moving the existing cargo facilities to an entirely different location.
He said the economic opportunities that could stem from a world-class yachting marina in George Town are practically limitless.
“Something which also definitely needs to happen here on island is for more dredging to happen for larger yachts and super yachts to come to the Cayman Islands. That’s a completely untapped market too. They can’t come here because they have nowhere to park their yachts,” said Mr. Kokabi.
Mr. Kokabi also told Cayman 27 a cruise berthing facility would be beneficial to lure more passengers off the ships and onto the island.