The CIA World Factbook Every edition, 1990 to 2025 North America
Economic overview Bermuda, in 36 editions.
The entry for Bermuda published Economic overview in 36 editions of 36, from 1990 to 2025. The text changed in 25 editions. Each is shown as published. Economic overview in every entry.
- editions changed the text
- 25
- the first edition with it
- 1990
- the latest edition with it
- 2025
Published as “Overview” (1990 to 1995), “Economic overview” (1996 to 2025), “Economy - overview” (1997 to 2019), “Economy-overview” (1998) and “Economy--overview” (1999).
field in that editiontext changed from the edition beforenot in that editionthe edition shownChoose an edition on the strip beside the text, or step through them with the arrows. Mark changes compares it with the edition before: the marks are ours, words added and words removed.
2025 edition
Same as 2024The same text in 1990 and 1991.
Published as “Overview”
Bermuda enjoys one of the highest per capita incomes in the world, having successfully exploited its location by providing luxury tourist facilities and financial services. The tourist industry attracts more than 90% of its business from North America. The industrial sector is small, and agriculture is severely limited by a lack of suitable land. About 80% of food needs are imported.
Bermuda enjoys one of the highest per capita incomes in the world, having successfully exploited its location by providing luxury tourist facilities and financial services. The tourist industry attracts more than 90% of its business from North America. The industrial sector is small, and agriculture is severely limited by a lack of suitable land. About 80% of food needs are imported.
The same text in 1992 and 1993.
Published as “Overview”
Bermuda enjoys one of the highest per capita incomes in the world, having successfully exploited its location by providing luxury tourist facilities and financial services. The tourist industry attracts more than 90% of its business from North America. The industrial sector is small, and agriculture is severely limited by a lack of suitable land. About 80% of food needs are imported.
Bermuda enjoys one of the highest per capita incomes in the world, having
successfully exploited its location by providing luxury tourist facilities
and financial services. The tourist industry attracts more than 90% of its
business from North America. The industrial sector is small, and agriculture
is severely limited by a lack of suitable land. About 80% of food needs are
imported.
Published as “Overview”
Bermuda enjoys one of the highest per capita incomes in the world, having successfully exploited its location by providing luxury tourist facilities and financial services. The tourist industry attracts more than 90% of its business from North America. The industrial sector is small, and agriculture is severely limited by a lack of suitable land. About 80% of food needs are imported.
Bermuda enjoys one of the highest per capita incomes in the world, having
having successfully exploited its location by providing luxury tourist facilities
facilities and financial services. The tourist industry attracts more
than 90% of its
small, and agriculture
About 80% of food needs are
Published as “Overview”
Bermuda enjoys one of the highest per capita incomes in the world, having successfully exploited its location by providing luxury tourist facilities and financial services. The tourist industry attracts more than 90% of its business from North America. The industrial sector is small, and agriculture is severely limited by a lack of suitable land. About 80% of food needs are imported.
Bermuda enjoys one of the highest per capita incomes in the world,
world, having successfully exploited its location by providing luxury tourist
tourist facilities and financial services. The tourist industry
attracts more
industrial sector is
lack of suitable land.
Bermuda enjoys one of the highest per capita incomes in the world, having successfully exploited its location by providing luxury tourist facilities and financial services. The tourist industry attracts more than 90% of its business from North America. The industrial sector is small, and agriculture is severely limited by a lack of suitable land. About 80% of food needs are imported. International business contributes over 60% of Bermuda's economic output; a failed independence vote in late 1995 can be partially attributed to Bermudian's fear of scaring away foreign firms. Hurricane Felix, which hit Bermuda twice over three days, caused an estimated $2.5 million in damages in August of 1995.
Bermuda enjoys one of the highest per capita
incomes in the
providing luxury
tourist industry
America. The
limited by a
imported. International business contributes over 60% of Bermuda's
economic output; a failed independence vote in late 1995 can be
partially attributed to Bermudian's fear of scaring away foreign
firms. Hurricane Felix, which hit Bermuda twice over three days,
caused an estimated $2.5 million in damages in August of 1995.
Published as “Economy - overview”
Bermuda enjoys one of the highest per capita incomes in the world, having successfully exploited its location by providing financial services for international firms and luxury tourist facilities for 200,000 visitors annually. The tourist industry attracts 91% of its business from North America. The industrial sector is small, and agriculture is severely limited by a lack of suitable land. About 80% of food needs are imported. International business contributes over 60% of Bermuda's economic output; a failed independence vote in late 1995 can be partially attributed to Bermudian's fear of scaring away foreign firms.
Bermuda enjoys one of the highest per capita
incomes in the world, having successfully exploited its location by
providing financial services for international firms and luxury
tourist facilities and financial services. for 200,000 visitors annually. The
attracts more than 90% 91% of its business from North
is small, and agriculture is severely
land. About 80% of food needs are
contributes over 60% of Bermuda's
independence vote in late 1995 can be
Bermudian's fear of scaring away foreignHurricane Felix, which hit Bermuda twice over three days,
caused an estimated $2.5 million in damages in August of 1995.
Published as “Economy-overview”
Bermuda enjoys one of the highest per capita incomes in the world, having successfully exploited its location by providing financial services for international firms and luxury tourist facilities for 360,000 visitors annually. The tourist industry, which accounts for an estimated 28% of GDP, attracts 84% of its business from North America. The industrial sector is small, and agriculture is severely limited by a lack of suitable land.
About 80% of food needs are imported. International business contributes over 60% of Bermuda's economic output; a failed independence vote in late 1995 can be partially attributed to Bermudian fears of scaring away foreign firms.
Bermuda enjoys one of the highest per capita
in the world, having successfully exploited its location by
financial services for international firms and luxury
facilities for 200,000 360,000 visitors annually. The tourist industry industry, which
accounts for an estimated 28% of GDP, attracts 91% 84% of its business
from North America. The industrial sector
severely limited by a lack of suitable
are imported. International business
economic output; a failed
partially attributed to
Bermudian's fear
Published as “Economy--overview”
Bermuda enjoys one of the highest per capita incomes in the world, having successfully exploited its location by providing financial services for international firms and luxury tourist facilities for 360,000 visitors annually. The tourist industry, which accounts for an estimated 28% of GDP, attracts 84% of its business from North America. The industrial sector is small, and agriculture is severely limited by a lack of suitable land.
About 80% of food needs are imported. International business contributes over 60% of Bermuda's economic output; a failed independence vote in late 1995 can be partially attributed to Bermudian fears of scaring away foreign firms.
Bermuda enjoys one of the highest per capita incomes
incomes in the world, having successfully exploited its location by providing
providing financial services for international firms and luxury tourist
tourist facilities for 360,000 visitors annually. The tourist
industry, which
of its business
and agriculture is
About 80% of food needs
contributes over 60% of Bermuda's
independence vote in late 1995 can be
Bermudian fears of scaring away foreign firms.
The same text in 2000 and 2001.
Published as “Economy - overview”
Bermuda enjoys one of the highest per capita incomes in the world, having successfully exploited its location by providing financial services for international firms and luxury tourist facilities for 360,000 visitors annually. The tourist industry, which accounts for an estimated 28% of GDP, attracts 84% of its business from North America. The industrial sector is small, and agriculture is severely limited by a lack of suitable land.
About 80% of food needs are imported. International business contributes over 60% of Bermuda's economic output; a failed independence vote in late 1995 can be partially attributed to Bermudian fears of scaring away foreign firms. Government economic priorities are the further strengthening of the tourist and international financial sectors.
Bermuda enjoys one of the highest per capita
Published as “Economy - overview”
Bermuda enjoys one of the highest per capita incomes in the world, with its economy primarily based on providing financial services for international business and luxury facilities for tourists. The effects of 11 September 2001 have had both positive and negative ramifications for Bermuda. On the positive side, a number of new reinsurance companies have located on the island, contributing to the expansion of an already robust international business sector.
On the negative side, Bermuda's already weakening tourism industry - which derives over 80% of its visitors from the US - has been further hit as American tourists have chosen not to travel. Most capital equipment and food must be imported, with the US serving as the primary source of goods, followed by the UK. Bermuda's industrial sector is small, although construction continues to be important. Agriculture is limited, only 6% of the land being arable.
Rewritten: too little of the 2001 text remains to mark the changes.
Bermuda enjoys one of the highest per capita incomes in the world, with its economy primarily based on providing financial services for international business and luxury facilities for tourists. The effects of 11 September 2001 have had both positive and negative ramifications for Bermuda. On the positive side, a number of new reinsurance companies have located on the island, contributing to the expansion of an already robust international business sector. On the negative side, Bermuda's already weakening tourism industry - which derives over 80% of its visitors from the US - has been further hit as American tourists have chosen not to travel. Most capital equipment and food must be imported, with the US serving as the primary source of goods, followed by the UK. Bermuda's industrial sector is small, although construction continues to be important. Agriculture is limited, only 6% of the land being arable.
Published as “Economy - overview”
Bermuda enjoys one of the highest per capita incomes in the world, with its economy primarily based on providing financial services for international business and luxury facilities for tourists. The effects of 11 September 2001 have had both positive and negative ramifications for Bermuda. On the positive side, a number of new reinsurance companies have located on the island, contributing to the expansion of an already robust international business sector.
On the negative side, Bermuda's tourism industry - which derives over 80% of its visitors from the US - has been severely hit as American tourists have chosen not to travel. Tourism rebounded somewhat in 2002, but remains below the pre-11 September level. Most capital equipment and food must be imported. Bermuda's industrial sector is small, although construction continues to be important. Agriculture is limited, only 6% of the land being arable.
Bermuda enjoys one of the highest per capita incomes in the world, with its economy primarily based on providing financial services for international business and luxury facilities for tourists. The effects of 11 September 2001 have had both positive and negative ramifications for Bermuda. On the positive side, a number of new reinsurance companies have located on the island, contributing to the expansion of an already robust international business sector. On the negative side, Bermuda's already weakening tourism industry - which derives over 80% of its visitors from the US - has been further severely hit as American tourists have chosen not to travel. Tourism rebounded somewhat in 2002, but remains below the pre-11 September level. Most capital equipment and food must be imported, with the US serving as the primary source of goods, followed by the UK. imported. Bermuda's industrial sector is small, although construction continues to be important. Agriculture is limited, only 6% of the land being arable.
Published as “Economy - overview”
Bermuda enjoys one of the highest per capita incomes in the world, equal to that of the US. Its economy is primarily based on providing financial services for international business and luxury facilities for tourists. The effects of 11 September 2001 have had both positive and negative ramifications for Bermuda. On the positive side, a number of new reinsurance companies have located on the island, contributing to the expansion of an already robust international business sector.
On the negative side, Bermuda's tourism industry - which derives over 80% of its visitors from the US - was severely hit as American tourists chose not to travel. Tourism rebounded somewhat in 2002-03. 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, only 6% of the land being arable.
Bermuda enjoys one of the highest per capita incomes in the world, with its equal to that of the US. Its economy is primarily based on providing financial services for international business and luxury facilities for tourists. The effects of 11 September 2001 have had both positive and negative ramifications for Bermuda. On the positive side, a number of new reinsurance companies have located on the island, contributing to the expansion of an already robust international business sector. On the negative side, Bermuda's tourism industry - which derives over 80% of its visitors from the US - has been was severely hit as American tourists have chosen chose not to travel. Tourism rebounded somewhat in 2002, but remains below the pre-11 September level. 2002-03. Most capital equipment and food must be imported. Bermuda's industrial sector is small, although construction continues to be important. important; the average cost of a house in June 2003 had risen to $976,000. Agriculture is limited, only 6% of the land being arable.
Published as “Economy - overview”
Bermuda enjoys one of the highest per capita incomes in the world, nearly equal to that of the US. Its economy is primarily based on providing financial services for international business and luxury facilities for tourists. The effects of 11 September 2001 have had both positive and negative ramifications for Bermuda. On the positive side, a number of new reinsurance companies have located on the island, contributing to the expansion of an already robust international business sector.
On the negative side, Bermuda's tourism industry - which derives over 80% of its visitors from the US - was severely hit as American tourists chose not to travel. Tourism rebounded somewhat in 2002-04. 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, only 20% of the land being arable.
Bermuda enjoys one of the highest per capita incomes in the world, nearly equal to that of the US. Its economy is primarily based on providing financial services for international business and luxury facilities for tourists. The effects of 11 September 2001 have had both positive and negative ramifications for Bermuda. On the positive side, a number of new reinsurance companies have located on the island, contributing to the expansion of an already robust international business sector. On the negative side, Bermuda's tourism industry - which derives over 80% of its visitors from the US - was severely hit as American tourists chose not to travel. Tourism rebounded somewhat in 2002-03. 2002-04. 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, only 6% 20% of the land being arable.
Published as “Economy - overview”
Bermuda enjoys the 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 11 September 2001 and again after Hurricane Katrina, 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.
Bermuda enjoys one of the highest per capita incomes income in the world, nearly equal to 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. The effects of 11 September 2001 have had both positive and negative ramifications for Bermuda. On the positive side, a A number of new reinsurance companies have located on relocated to the island, island following 11 September 2001 and again after Hurricane Katrina, contributing to the expansion of an already robust international business sector. On the negative side, Bermuda's tourism industry - which derives over 80% of its visitors from the US - was severely hit as American tourists chose not continues to travel. Tourism rebounded somewhat in 2002-04. 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, limited with only 20% of the land being arable.
Published as “Economy - overview”
Bermuda enjoys the 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.
Bermuda enjoys the 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, 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.
Published as “Economy - overview”
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.
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.
Published as “Economy - overview”
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.
Bermuda enjoys the third highest per capita income in the world, 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, 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.
The same text in 2010 and 2011.
Published as “Economy - overview”
Bermuda enjoys the third highest per capita income in the world, more than 50% higher than that of the US; the average cost of a house by the mid-2000s exceeded $1,000,000. 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 largely focused on construction and agriculture is limited, with only 20% of the land being arable.
Bermuda enjoys the third highest per capita income in the world world, more than 50% higher than that of the US. US; the average cost of a house by the mid-2000s exceeded $1,000,000. 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 largely focused on construction continues to be important; the average cost of a house in June 2003 had risen to $976,000. Agriculture and agriculture is limited limited, with only 20% of the land being arable.
Published as “Economy - overview”
Bermuda enjoys the fourth highest per capita income in the world, more than 50% higher than that of the US; the average cost of a house by the mid-2000s exceeded $1,000,000. 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 on the US 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 largely focused on construction and agriculture is limited, with only 20% of the land being arable.
Bermuda enjoys the third fourth highest per capita income in the world, more than 50% higher than that of the US; the average cost of a house by the mid-2000s exceeded $1,000,000. 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 on the US 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 largely focused on construction and agriculture is limited, with only 20% of the land being arable.
The same text in 2013 and 2014.
Published as “Economy - overview”
Despite four years of recession and a public debt of $1.4 billion, Bermuda enjoys the fourth highest per capita income in the world, about 70% higher than that of the US. The average cost of a single-family home in 2012 was $1.1 million. Its economy is primarily based on international business and the provision of financial services to that sector, and to a lesser extent tourism. A number of reinsurance companies relocated to the island following the 11 September 2001 attacks on the US and again after Hurricanes Katrina, Rita, and Wilma in 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 and has dropped in its relevant importance to the economy, although it is still important as a job creator. Bermuda must import almost everything. Agriculture is limited due to the small size of the island and Bermuda's industrial sector is small.
Despite four years of recession and a public debt of $1.4 billion, Bermuda enjoys the fourth highest per capita income in the world, more than 50% about 70% higher than that of the US; the US. The average cost of a house by the mid-2000s exceeded $1,000,000. single-family home in 2012 was $1.1 million. Its economy is primarily based on providing financial services for international business and luxury facilities for tourists. the provision of financial services to that sector, and to a lesser extent tourism. A number of reinsurance companies relocated to the island following the 11 September 2001 attacks on the US and again after Hurricane Katrina Hurricanes Katrina, Rita, and Wilma in August 2005 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 has dropped in its relevant importance to the economy, although it is still important as a job creator. Bermuda must be imported. import almost everything. Agriculture is limited due to the small size of the island and Bermuda's industrial sector is largely focused on construction and agriculture is limited, with only 20% of the land being arable. small.
Published as “Economy - overview”
Bermuda's economy entered its seventh straight year of recession in 2015. Unemployment is 9%, public debt is growing and exceeds $2.3 billion, the government pension fund faces a $2.4 billion shortfall, and the economy has not attracted significant amounts of new foreign investment. Bermuda's FY 2015-16 budget proposal projects a 12% larger deficit than FY14/15. The government announced it would have to borrow $125 million in 2015 to meet current operating expenses.
Still, Bermuda enjoys the fourth highest per capita income in the world, about 70% higher than that of the US. Tourism, which derives over 80% of its visitors from the US, accounts for 5.2% of GDP but a much larger share of employment. Tourism has struggled in the wake of the global recession of 2008. International business, which consists primarily of reinsurance and other financial services, is the real bedrock of Bermuda's economy, consistently accounting for about 85% of the island's GDP. Even this sector, however, has lost roughly 5000 high-paying expatriate jobs since 2008, weighing heavily on household consumption and retail sales. Bermuda must import almost everything. Agriculture and industry are limited due to the small size of the island.
Rewritten: too little of the 2014 text remains to mark the changes.
Bermuda's economy entered its seventh straight year of recession in 2015. Unemployment is 9%, public debt is growing and exceeds $2.3 billion, the government pension fund faces a $2.4 billion shortfall, and the economy has not attracted significant amounts of new foreign investment. Bermuda's FY 2015-16 budget proposal projects a 12% larger deficit than FY14/15. The government announced it would have to borrow $125 million in 2015 to meet current operating expenses. Still, Bermuda enjoys the fourth highest per capita income in the world, about 70% higher than that of the US. Tourism, which derives over 80% of its visitors from the US, accounts for 5.2% of GDP but a much larger share of employment. Tourism has struggled in the wake of the global recession of 2008. International business, which consists primarily of reinsurance and other financial services, is the real bedrock of Bermuda's economy, consistently accounting for about 85% of the island's GDP. Even this sector, however, has lost roughly 5000 high-paying expatriate jobs since 2008, weighing heavily on household consumption and retail sales. Bermuda must import almost everything. Agriculture and industry are limited due to the small size of the island.
Published as “Economy - overview”
Tourism accounts for about 5% of Bermuda's GDP, but a much larger share of employment. Over 80% of its visitors come from the US. The sector struggled in the wake of the global recession of 2008-09. International business, which consists primarily of reinsurance and other financial services, is the real bedrock of Bermuda's economy, consistently accounting for about 85% of the island's GDP. Even this sector, however, has lost roughly 5,000 high-paying expatriate jobs since 2008, weighing heavily on household consumption and retail sales. Bermuda must import almost everything. Agriculture and industry are limited due to the small size of the island.
Bermuda's economy entered its seventh straight year of recession in 2015. Unemployment is 9%, public debt is growing and exceeds $2.3 billion, the government pension fund faces a $2.4 billion shortfall, and the economy has not attracted significant amounts of new foreign investment. Bermuda's FY 2015-16 budget projects a 12% larger deficit than FY14/15. The government announced it would borrow $125 million in 2015 to meet current operating expenses. Still, Bermuda enjoys the fourth highest per capita income in the world, about 70% higher than that of the US.
Tourism accounts for about 5% of Bermuda's GDP, but a much larger share of employment. Over 80% of its visitors come from the US. The sector struggled in the wake of the global recession of 2008-09. International business, which consists primarily of reinsurance and other financial services, is the real bedrock of Bermuda's economy, consistently accounting for about 85% of the island's GDP. Even this sector, however, has lost roughly 5,000 high-paying expatriate jobs since 2008, weighing heavily on household consumption and retail sales. Bermuda must import almost everything. Agriculture and industry are limited due to the small size of the island.
Bermuda's economy entered its seventh straight year of recession in 2015. Unemployment is 9%, public debt is growing and exceeds $2.3 billion, the government pension fund faces a $2.4 billion shortfall, and the economy has not attracted significant amounts of new foreign investment. Bermuda's FY 2015-16 budget proposal projects a 12% larger deficit than FY14/15. The government announced it would have to borrow $125 million in 2015 to meet current operating expenses. Still, Bermuda enjoys the fourth highest per capita income in the world, about 70% higher than that of the US. Tourism, which derives over 80% of its visitors from the US, accounts for 5.2% of GDP but a much larger share of employment. Tourism has struggled in the wake of the global recession of 2008. International business, which consists primarily of reinsurance and other financial services, is the real bedrock of Bermuda's economy, consistently accounting for about 85% of the island's GDP. Even this sector, however, has lost roughly 5000 high-paying expatriate jobs since 2008, weighing heavily on household consumption and retail sales. Bermuda must import almost everything. Agriculture and industry are limited due to the small size of the island.
Published as “Economy - overview”
Tourism accounts for about 5% of Bermuda's GDP, but a much larger share of employment. Over 80% of its visitors come from the US. The sector struggled in the wake of the global recession of 2008-09. International business, which consists primarily of reinsurance and other financial services, is the real bedrock of Bermuda's economy, consistently accounting for about 85% of the island's GDP. Even this sector, however, has lost roughly 5,000 high-paying expatriate jobs since 2008, weighing heavily on household consumption and retail sales. Bermuda must import almost everything. Agriculture and industry are limited due to the small size of the island.
Bermuda's economy entered its seventh straight year of recession in 2015. Unemployment is 9%, public debt is growing and exceeds $2.3 billion, the government pension fund faces a $2.4 billion shortfall, and the economy has not attracted significant new foreign investment. Bermuda's FY15/16 budget projects a 12% larger deficit than FY14/15. The government announced it would borrow $125 million in 2015 to meet current operating expenses. Still, Bermuda enjoys the fourth highest per capita income in the world, about 70% higher than that of the US.
Tourism accounts for about 5% of Bermuda's GDP, but a much larger share of employment. Over 80% of its visitors come from the US. The sector struggled in the wake of the global recession of 2008-09. International business, which consists primarily of reinsurance and other financial services, is the real bedrock of Bermuda's economy, consistently accounting for about 85% of the island's GDP. Even this sector, however, has lost roughly 5,000 high-paying expatriate jobs since 2008, weighing heavily on household consumption and retail sales. Bermuda must import almost everything. Agriculture and industry are limited due to the small size of the island.
Bermuda's economy entered its seventh straight year of recession in 2015. Unemployment is 9%, public debt is growing and exceeds $2.3 billion, the government pension fund faces a $2.4 billion shortfall, and the economy has not attracted significant amounts of new foreign investment. Bermuda's FY 2015-16 FY15/16 budget projects a 12% larger deficit than FY14/15. The government announced it would borrow $125 million in 2015 to meet current operating expenses. Still, Bermuda enjoys the fourth highest per capita income in the world, about 70% higher than that of the US.
The same text in 2018 and 2019.
Published as “Economy - overview”
International business, which consists primarily of insurance and other financial services, is the real bedrock of Bermuda's economy, consistently accounting for about 85% of the island's GDP. Tourism is the country’s second largest industry, accounting for about 5% of Bermuda's GDP but a much larger share of employment. Over 80% of visitors come from the US and the sector struggled in the wake of the global recession of 2008-09.
Even the financial sector has lost roughly 5,000 high-paying expatriate jobs since 2008, weighing heavily on household consumption and retail sales. Bermuda must import almost everything. Agriculture and industry are limited due to the small size of the island. Bermuda's economy returned to negative growth in 2016, reporting a contraction of 0.1% GDP, after growing by 0.6% in 2015. Unemployment reached 7% in 2016 and 2017, public debt is growing and exceeds $2.4 billion, and the government continues to work on attracting foreign investment. Still, Bermuda enjoys one of the highest per capita incomes in the world.
International business, which consists primarily of insurance and other financial services, is the real bedrock of Bermuda's economy, consistently accounting for about 85% of the island's GDP. Tourism accounts is the country’s second largest industry, accounting for about 5% of Bermuda's GDP, GDP but a much larger share of employment. Over 80% of its visitors come from the US. The US and the sector struggled in the wake of the global recession of 2008-09. International business, which consists primarily of reinsurance and other financial services, is the real bedrock of Bermuda's economy, consistently accounting for about 85% of the island's GDP. Even this sector, however, the financial sector has lost roughly 5,000 high-paying expatriate jobs since 2008, weighing heavily on household consumption and retail sales. Bermuda must import almost everything. Agriculture and industry are limited due to the small size of the island.entered its seventh straight year returned to negative growth in 2016, reporting a contraction of recession 0.1% GDP, after growing by 0.6% in 2015. Unemployment is 9%, reached 7% in 2016 and 2017, public debt is growing and exceeds $2.3 billion, the government pension fund faces a $2.4 billion shortfall, billion, and the economy has not attracted significant new foreign investment. Bermuda's FY15/16 budget projects a 12% larger deficit than FY14/15. The government announced it would borrow $125 million in 2015 continues to meet current operating expenses. work on attracting foreign investment. Still, Bermuda enjoys one of the fourth highest per capita income incomes in the world, about 70% higher than that of the US. world.
International business, which consists primarily of insurance and other financial services, is the real bedrock of Bermuda's economy, consistently accounting for about 85% of the island's GDP. Tourism is the country’s second largest industry, accounting for about 5% of Bermuda's GDP but a much larger share of employment. Over 80% of visitors come from the US and the sector struggled in the wake of the global recession of 2008-09.
Even the financial sector has lost roughly 5,000 high-paying expatriate jobs since 2008, weighing heavily on household consumption and retail sales. Bermuda must import almost everything. Agriculture and industry are limited due to the small size of the island. Bermuda's economy returned to negative growth in 2016, reporting a contraction of 0.1% GDP, after growing by 0.6% in 2015. Unemployment reached 7% in 2016 and 2017, public debt is growing and exceeds $2.4 billion, and the government continues to work on attracting foreign investment. Still, Bermuda enjoys one of the highest per capita incomes in the world.
International business, which consists primarily of insurance and other financial services, is the real bedrock of Bermuda's economy, consistently accounting for about 85% of the island's GDP. Tourism is the country’s second largest industry, accounting for about 5% of Bermuda's GDP but a much larger share of employment. Over 80% of visitors come from the US and the sector struggled in the wake of the global recession of 2008-09. Even the financial sector has lost roughly 5,000 high-paying expatriate jobs since 2008, weighing heavily on household consumption and retail sales. Bermuda must import almost everything. Agriculture and industry are limited due to the small size of the island. Bermuda's economy returned to negative growth in 2016, reporting a contraction of 0.1% GDP, after growing by 0.6% in 2015. Unemployment reached 7% in 2016 and 2017, public debt is growing and exceeds $2.4 billion, and the government continues to work on attracting foreign investment. Still, Bermuda enjoys one of the highest per capita incomes in the world.
The same text in 2021 and 2022.
International business, which consists primarily of insurance and other financial services, is the real bedrock of Bermuda's economy, consistently accounting for about 85% of the island's GDP. Tourism is the country’s second largest industry, accounting for about 5% of Bermuda's GDP but a much larger share of employment. Over 80% of visitors come from the US and the sector struggled in the wake of the global recession of 2008-09.
Even the financial sector has lost roughly 5,000 high-paying expatriate jobs since 2008, weighing heavily on household consumption and retail sales. Bermuda must import almost everything. Agriculture and industry are limited due to the small size of the island.
Bermuda's economy returned to negative growth in 2016, reporting a contraction of 0.1% GDP, after growing by 0.6% in 2015. Unemployment reached 7% in 2016 and 2017, public debt is growing and exceeds $2.4 billion, and the government continues to work on attracting foreign investment. Still, Bermuda enjoys one of the highest per capita incomes in the world.
International business, which consists primarily of insurance and other financial services, is the real bedrock of Bermuda's economy, consistently accounting for about 85% of the island's GDP. Tourism is the country’s second largest industry, accounting for about 5% of Bermuda's GDP but a much larger share of employment. Over 80% of visitors come from the US and the sector struggled in the wake of the global recession of 2008-09. Even the financial sector has lost roughly 5,000 high-paying expatriate jobs since 2008, weighing heavily on household consumption and retail sales. Bermuda must import almost everything. Agriculture and industry are limited due to the small size of the island.
Bermuda's economy returned to negative growth in 2016, reporting a contraction of 0.1% GDP, after growing by 0.6% in 2015. Unemployment reached 7% in 2016 and 2017, public debt is growing and exceeds $2.4 billion, and the government continues to work on attracting foreign investment. Still, Bermuda enjoys one of the highest per capita incomes in the world.
The same text in 3 editions, 2023 to 2025.
- small, tourism- and construction-based, territorial-island economy;
- American import and tourist destination;
- known offshore banking hub;
- increasing inflation;
- major re-exportation and re-importation area
Rewritten: too little of the 2022 text remains to mark the changes.
small, tourism- and construction-based, territorial-island economy; American import and tourist destination; known offshore banking hub; increasing inflation; major re-exportation and re-importation area
No edition has those words. Try a shorter word.
Cite this page
Central Intelligence Agency. “Bermuda: Economic overview.” The World Factbook, 1990–2025 editions. Archived by The Factbook, thefactbook.org/bermuda/economic-overview.