Introduction: Bermuda Download PDF

Bermuda was first settled in 1609 by shipwrecked English colonists headed for Virginia. Tourism to the island to escape North American winters first developed in Victorian times. Tourism continues to be important to the island's economy, although international business has overtaken it in recent years. Bermuda has developed into a highly successful offshore financial center. Although a referendum on independence from the UK was soundly defeated in 1995, the present government has reopened debate on the issue.

Capital City: Hamilton (-4 GMT)  
Chief of State: Queen Elizabeth II  
Head of Govt.: Premier Ewart Brown  
Currency: Bermudian dollar  
Main Cities: St. George  
Major Languages: English (official), Portuguese  
Calling Code: 1-441  
Voltage: 120  
Stock Exchanges: Bermuda Stock Exchange  
Primary Religions: Anglican 23%, Roman Catholic 15%, African Methodist Episcopal 11%, other Protestant 18%, other 12%, unaffiliated 6%, unspecified 1%, none 14%  

Main Airports

Bermuda International (BDA)

U.S. Embassy

The U.S. Consulate General can be found at "Crown Hill," 16 Middle Road, Devonshire
tel: 441-295-1342

Corporations

Bunge (Food, Drink & Tobacco)
$52.57 Billion USD
Accenture (Software & Services)
$25.68 Billion USD
Tyco International (Conglomerates)
$19.79 Billion USD
Tyco Electronics (Technology Hardware & Equip)
$14.09 Billion USD

Key Facts

GDP (ppp) per CAPITA
$69,900 (2004 est.)
Inflation Rate
2.8% (November 2005)
Population
67,837 (July 2009 est.)
Country Risk Ratings
-
Ease of Doing Business
-/181
Global Competitiveness
-/134

Statistics

Labor force:
38,360 (2004)
Exports:
$763 million (2006)
Exports - partners:
Brazil 22.4%, US 14.6%, Germany 11%, South Africa 8.4%, Switzerland 6% (2008)
Imports:
$1.162 billion (2006)
Imports - partners:
South Korea 31.7%, Italy 21.7%, US 14.9%, UK 6.8%, Singapore 4.4%, France 4.2% (2008)
Major Industries:
international business, tourism, light manufacturing

Rankings

E-readiness Rankings
17 out of 70
 
The E-readiness Ranking is reported yearly by the Economist Intelligence Unit, a research and advisory firm. The E-readiness Ranking evaluates the technological, economic, political and social assets of countries to assess the information and communications technology infrastructure, and the infrastructures benefits on the country's consumers, businesses and governments. The higher ranked countries have a better ability to leverage digital channels for communication, commerce, and government in order to further development.

Data collected in 2008

Source: EIU

Global Services Location Index
-
 
The Global Services Location Index is published annually by A.T. Kearney, a global management consulting firm. The Global Services Location Index measures the viability of countries as a potential offshore destination for services, based on their financial attractiveness (0-4 points), people and skills availability (0-3 points), and business environment (0-3 points). The highest ranked country is the most attractive as a potential offshoring destination. Index units, 0=location does not provide offshore support, 10=location does provide offshore support.

Data collected in 2007

Source: A.T. Kearney

Index of Economic Freedom
-
 
The Index of Economic Freedom is reported annually by the Heritage Foundation, a research and educational institute. The Index of Economic Freedom analyzes a wide range of issues including trade barriers, corruption, government expenditures, property rights, and tax rates to generate an overall ranking of economic freedom. The highest ranked country is the country with the least number of restrictions and constraints on businesses.

Data collected in 2007

Source: Heritage Foundation

Tax Misery & Reform Index
-
 
The Forbes Tax Misery Index is annually compiled by Forbes, an American publishing and media company. The Tax Misery Index reflects the sum of corporate income, personal income and wealth taxes plus employer social security, employee social security and VAT/sales taxes at the highest marginal rate in each locale. The highest ranked countries impose the harshest taxes while those at the bottom are the most tax friendly.

Data collected in 2007

Source: Forbes

The Globalization Index
-
 
The Globalization Index is compiled annually by A.T. Kearney and Foreign Policy. The Globalization Index ranks the major developed and developing countries in the world by analyzing key components of global integration, such as economic, personal, technological, and political integration. The highest ranked country is the most globalized.

Data collected in 2007

Source: Foreign Policy