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Caricom Associate Members1, Bermuda

Caricom associate members1 - BERMUDA's Motto: 'Quo fata ferunt' (Whither the Fates carry [us])

Location: North America - Group of islands in the North Atlantic Ocean east of South Carolina (US).


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Brief History on Bermuda

Bermuda was first settled in 1609 by shipwrecked English colonists headed for Virginia.

Tourism to the island first developed in Victorian times, and 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 centre. A referendum on independence was defeated in 1995.

Economic Summary

Caricom associate members1 - Bermuda enjoys  the third highest per capita income in the world. Its economy is primarily based on providing financial services for international business and luxury facilities for tourists.

A number of reinsurance companies relocated to the island following the 9/11 attacks on the US in 2001, and again after Hurricane Katrina in August 2005, contributing to the expansion of an already robust international business sector.

Bermuda's tourism industry - which derives over 80% of its visitors from the US – is recovering well with an increase in hotel development, and remains the island's number two industry.

Most capital equipment and food must be imported. Bermuda's industrial sector is small, although construction continues to be important. Agriculture is limited with only 20% of the land being arable.

Airport: L.F. Wade International Airport

Status: Overseas Territory of the United Kingdom

Capital: Hamilton

Area: 53.3 sq km (21 sq ml)

Population: 64,209 (2008 est.)

Currency: Bermudan dollar (BMD)

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Business Hours

Commercial:  9:00 a.m. to 5:00 p.m. Monday to Friday

Government:  8:30 a.m. to 5:00 p.m. Monday to Friday

National Holidays

Caricom associate members1 - New Year's Day (1 January); Good Friday (varies); Bermuda Day (24 May); Queen's Official Birthday (Second Monday in June); Emancipation Day (Thursday before the First Monday in August); Somer's Day (Friday before the First Monday in August); Labour Day (First Monday in September); Remembrance Day (11 November); Christmas Day (25 December); Boxing Day (26 December) 

Favourite Dishes: Codfish and Potatoes. Cassava Pie, Shark Hash, Johnny Bread, Peas and Rice and Fish Cakes

Government website: http://www.gov.bm

Source: Courtesy of caricom.org

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