RF Cayman Economic Outlook Forum - Future Forces: World Changing Ideas

Updated: Jun 15

The RF Cayman Economic Outlook was launched in 2003 as the Cayman Business Outlook. The event, which began as a half-day lunch, grew in popularity and eventually morphed into an all-day event attracting over 400 participants each year. In 2014, the conference rebranded as the Cayman Economic Outlook (CEO) and the following year, RF introduced the event to the Bahamian market and to Barbados in 2021.

This now regional event serves as the platform for predicting significant business trends and took place this year on June 8th with global and local experts coming together to provide a forecast of the key social, economic and political & environmental issues that impact the respective economies.

Each year, a new theme is strategically chosen in line with the prevailing global forces of the day and how those forces impact the Caribbean region, with the 2022 theme set as, Future Forces: World Changing Ideas

RFEO 2022

This year's conference was a hybrid event, giving delegates the option to attend in-person or online. Addressing the audience via a video message, Premier Wayne Panton expressed that the Cayman Islands must expect and prepare for disruption when he addressed the RF Economic Outlook Conference. He said that the history of fiscal prudence by the government also helped the country navigate this disruption and that Cayman withstood the storm of COVID-19 and is beginning to recover, helped significantly by the financial services sector, which the premier described as the lynchpin of the economy.

With a strong and resilient economy, which is set to grow, the fiscal prudence, which has provided an income buffer without increasing debt, will continue he explained. “We are committed to maintaining a buffer to mitigate any shocks. As leaders, we should expect disruption and prepare for it.”

He went on to address plans to sustainably grow Cayman’s existing economic pillars and developing new ones in the technology arena. He said Cayman was positively positioned to build a tech-friendly corporate environment and that the government was working on the necessary regulatory framework.

“We are seeking to build virtual assets around pre-existing finance,” he added, as he delivered his message. Panton went on to note ongoing issues relating to the pandemic, the war in Ukraine, supply chain problems, inflation and rising interest rates, as well as the risks of climate change and the inevitability of stronger and more frequent storms ahead.

The format of the 2022 event was a reflection of the disruptions that have occurred in the past decade worldwide that have forced governments, business leaders and individuals to rethink their futures and strategize for the potential opportunities and risks ahead. Along with internationally renowned presenters and regional leaders, the forum explored the future of work, finance, healthcare, technology, energy and more during what was an exciting and thought-provoking event.