Cayman Islands business ventures thrive in an environment void of direct taxation. The affluent offshore financial center and high-end tourism hot spot has the highest standard of living in the Caribbean, one roughly equal to that of Switzerland. More than 93,000 companies were registered in the Cayman Islands as of 2008, including almost 300 banks, 800 insurers, and 10,000 mutual funds. The tourist industry, which accounts for roughly 75% of the territory’s GDP, is largely aimed at the luxury market, with most guests arriving from North America. Since roughly 90% of the islands’ food and consumer goods are imported, opportunities exist for distributors of niche, high-end products.