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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.
consists of about 138 coral islands and islets with ample rainfall, but no rivers or freshwater lakes; some land was leased by the US Government from 1941 to 1995
elections:
the monarchy is hereditary; governor appointed by the monarch; following legislative elections, the leader of the majority party or the leader of the majority coalition usually appointed premier by the governor
bicameral Parliament consists of the Senate (11 seats; members appointed by the governor, the premier, and the opposition) and the House of Assembly (36 seats; members are elected by popular vote to serve up to five-year terms)
elections:
last general election held on 18 December 2007 (next to be held not later than 2012)
election results:
percent of vote by party - PLP 52.5%, UBP 47.3%; seats by party - PLP 22, UBP 14
Bermuda Employer's Union [Eddie SAINTS]; Bermuda Industrial Union or BIU [Derrick BURGESS]; Bermuda Public Services Union or BPSU [Ed BALL]; Bermuda Union of Teachers [Michael CHARLES]
chief of mission: Consul General Gregory W. SLAYTON
consulate(s) general:
Crown Hill, 16 Middle Road, Devonshire DVO3
mailing address:
P. O. Box HM325, Hamilton HMBX; American Consulate General Hamilton, US Department of State, 5300 Hamilton Place, Washington, DC 20520-5300
red, with the flag of the UK in the upper hoist-side quadrant and the Bermudian coat of arms (white and green shield with a red lion holding a scrolled shield showing the sinking of the ship Sea Venture off Bermuda in 1609) centered on the outer half of the flag
Bermuda enjoys the third highest per capita income in the world, more than 50% higher than that of the US. 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 11 September 2001 attacks 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 - continues to struggle but 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; the average cost of a house in June 2003 had risen to $976,000. Agriculture is limited with only 20% of the land being arable.
domestic:
fully automatic digital telephone system; fiber optic trunk lines
international:
country code - 1-441; landing points for the GlobeNet, Gemini Bermuda, and the Challenger Bermuda-1 (CB-1)submarine cables; satellite earth stations - 3 (2007)
by type:
bulk carrier 23, chemical tanker 3, container 22, liquefied gas 33, passenger 24, passenger/cargo 5, petroleum tanker 18, refrigerated cargo 9
foreign-owned:
115 (Australia 1, China 10, France 1, Germany 22, Greece 9, Hong Kong 4, Ireland 1, Israel 3, Japan 2, Nigeria 11, Norway 5, Sweden 20, UK 3, US 23)
registered in other countries:
50 (Bahamas 12, Marshall Islands 4, Philippines 34) (2008)
The online Factbook is updated bi-weekly. ISSN 1553-8133
For additional information on government leaders in selected foreign countries, go to World Leaders.
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