Bermuda

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.

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

Statistics

GDP: purchasing power parity:

$4.5 billion (2004 est.)

GDP - real growth rate:

4.6% (2004 est.)

GDP - per capita: purchasing power parity:

69,900 (2004 est.)

Inflation rate (consumer prices):

2.8% (November 2005)

Labor force:

38,360 (2004)

Exports:

$1.469 billion (2004 est.)

Exports - partners:

France 65.5%, Spain 11.7%, US 4.5% (2005)

Imports:

$982 million (2004 est.)

Imports - partners:

Kazakhstan 51.4%, France 19.2%, South Korea 10.3%, US 7.6% (2005)

Population:

65,773 (July 2006 est.)

Population growth rate:

0.61% (2006 est.)

Population Below Poverty Line:

19% (2000)

Major Industries:

international business, tourism, light manufacturing

Employing Workers: *

Registering Property: *

Enforcing Contracts: *

Closing a Business: *

*2006 World Bank rank out of 175 countries

Starting a Business

The table below shows the number of steps and the amount of time needed to start a business, on average

Indicator

Bermuda

Region

• Agriculture
• Apparel
• Arts & Crafts
• Automobile
• Bags, Cases & Boxes
• Chemicals
• Computer Hardware & Software
• Construction & Real Estate
• Consumer Electronics
• Electrical & Electronics
• Energy & Environment
• Food & Beverage
• Furniture & Furnishing
• Health & Medicine
• Home Supplies
• Industrial Supplies
• Lights & Lighting
• Machinery
• Mineral & Materials
• Office Supplies
• Security & Protection
• Service
• Sports & Entertainment
• Telecommunications
• Textile
• Toys
• Transportation