I think it’s because it combines 2 factors. First, those islands hadn’t other ressources to sell. So to attract money in their banks they started no tax laws

I think it’s because it combines 2 factors. First, those islands hadn’t other ressources to sell. So to attract money in their banks they started no tax laws And then it’s a nice place to spend a couple of days since they build hotels with the money they won on getting the no tax regulation.