Which of the following best describes the first settlement of Bodden Town?

Bodden Town, as the first settlement in the Cayman Islands, primarily developed as a fishing village. This accurately reflects the initial livelihood of its inhabitants, who relied on the abundant marine resources available in the surrounding waters. The establishment of a fishing community provided the foundation for early economic activities in the area, focusing on subsistence living and small-scale trade.

While the other options may describe various historical developments or industries in different locations or contexts, they do not apply to the early character and purpose of Bodden Town. The designation of Bodden Town as a fishing village speaks to the community's roots and the primary source of sustenance and income for its early settlers.