So much more than a hedge fund hideaway for the rich

On the Caribbean island of Grand Cayman, Robin McKelvie discovers low-key resorts, affordable dining and rare wildlife

- Robin McKelvie

It's hard to resist a dish of 10 chunks of fried fresh mahi mahi, especially when it costs just $10 (£7.30) and comes served with fries at a table in the sands overlooking the Caribbean Sea.

Forget hedge funds and offshore accounts, Grand Cayman is the savvy traveller's Caribbean isle of choice.

Think topnotch food. Think low-key resorts and superb snorkelling. Think a famous cocktail invented here and hulking blue iguanas you'll find nowhere else in the world. It's no surprise that many people dismiss Grand Cayman as just a financial hideaway not within reach of mere mortals. Over 500 banks and other financial institutions and trusts have a presence, including many of the world's top 50 banks.

The big money is here, but what instantly strikes me is how little you see of those financial big guns, bar the odd plaque on a building.

“People do associate us with finance,” beams Hermes Cuello, manager of the Grand Cayman Marriott Resort, a swimming pool behind him sparkling with “Endless Summer” emblazoned across its tiles. “Grand Cayman is a magical island that offers so much more and the finance industry brings a lot of benefits, with facilities that holidaymakers can enjoy, too.”

Cuello makes a good point. Grand Cayman's expat community (who, like locals, enjoy zero income tax, though indirect taxes and import duties are high) make up around 50 per cent of the population and hail from over 150 different countries, which engenders a demand for airlift, with British Airways offering London flights, and a choice of US airlines (including both American Airlines and United) and the highly rated Cayman Airlines serving Denver, Miami, New York and Tampa.