WHY BERMUDA?
Fantastic beaches – ecological reserves – rolling green hills – manicurved gardens – colorful georgian houses – clear water – coral reefs – shipwrecks for great diving and more…

ABOUT BERMUDA
Famed for Bermuda shorts, the original Bermuda Onion, and of course the Bermuda Triangle, this island’s tourism has grown significantly over the last 50 years. International business and finance, and light manufacturing are the other industries of note.

HISTORY:
The discovery of Bermuda is attributed to a Spanish navigator, Juan de Berm? who was shipwrecked here in about 1503. No settlement was established, however, until 1609, when a party of English colonists under the mariner Sir George Somers sailing for Virginia, was also shipwrecked here. In 1612 the island group, known as Somers Islands, was included in the third charter of the Virginia Company, and a second group of English colonists arrived. This charter was revoked in 1684, however, and the islands then became a crown colony. Shortly afterward the settlers imported black slaves and, later, Portuguese laborers from the Madeira Islands and the Azores (Portuguese A?es). During the American Civil War (1861-1865), Confederate blockade runners were based in the Bermudas. At the close of the Civil War some Americans, particularly Virginians, migrated here from the United States; the islands later received Boer prisoners, sent by the British government during the Boer War (1899-1902).

Because of their strategic location, the Bermuda Islands formerly served as the winter naval station for both the British North Atlantic and West Indian squadrons; the West Indian squadron still maintains a station here. In 1941, during World War II, sites on the islands were leased to the United States for naval and air bases for 99 years. Bermuda became internally self-governing in 1968. In August 1995 voters in Bermuda soundly rejected a referendum that would have made the island colony independent of the United Kingdom. Premier John Swan, the leader of the United Bermuda Party (UBP), had vowed to resign if independence was not approved; he stepped down shortly after the vote. After a secret ballot of Bermuda’s legislators, Finance Minister David Saul was named the new prime minister. Saul resigned in March 1997 and was replaced by Pamela Gordon of the UBP. In November 1998 the Progressive Labour Party won its first election, with party leader Jennifer Smith becoming prime

PEOPLE / CULTURE:
About three-fifths of the population is descended from African slaves brought to Bermuda before Britain outlawed the slave trade in 1807. Whites include the British and descendants of Portuguese labourers from Madeira and the Azores who went to Bermuda in the mid-19th century. English is the official language, but some Portuguese is also spoken.

Bermuda was first discovered by Juan de Bermudez, the Spanish mariner, in 1503. It was claimed in England’s name by Sir George Somers, in July 1609. After colonization, the island prospered and has continued to do so almost continuously ever since. The tourist industry, catering particularly for the American market, began in Victorian times. Bermuda is the oldest British colony and there are still elements of British culture and customs in almost every aspect of life on the islands.

Bermuda is a British Crown Colony. Its bicameral legislature – the Senate with 11 appointed members and the 40-member House of Assembly, elected by universal adult suffrage for a five-year term – is responsible for most internal affairs, although foreign policy and security matters are decided by the Governor (John Vereker, since 2002) who is appointed by and represents the British monarch. He in turn appoints the majority leader in the House of Assembly as Premier; the latter appoints the Cabinet.

Bermuda’s economy is dominated by two industries – tourism and international financial services – which together account for approximately 90 per cent of GDP. Offshore banking and related services have been the mainstay of the financial sector, although in recent years, insurance has grown to the point where Bermuda is now the world’s third-largest insurance market. Tax receipts from several thousand offshore companies registered in Bermuda, plus customs duties, go some way to offsetting the island’s large annual visible trade deficit of around US$500 million. The small light-manufacturing base in Bermuda is engaged in boat building, ship repair and perfume and pharmaceutical production. There is some agriculture, concentrated in the growing of fruit and vegetables, although most of Bermuda’s food is imported along with all its oil, machinery and most manufactured goods. Bermuda has recently established an important diamond market. The USA is the largest trading partner followed by Japan, Germany and the UK.