Bermuda Islands
A British territory in the northwest part of the Atlantic Ocean, near North America, consisting of about 360 islands and reefs; of these, no more than 20 are inhabited (10 islands are connected by bridges and causeways, forming the so-called main island, Main Island). The total area is 53.3 km². The administrative center is Hamilton (3,000). The population is 64,500 (2004); over 60% are of African descent, the rest are descendants of Europeans and North Americans. The official language is English. Religion: the majority of believers are Protestants (adherents of the Anglican Church), with a significant Catholic community (about 9,000). The currency is the Bermudian dollar = 100 cents.
National holiday—May 24—Bermuda Day.
According to the constitution of 1968 (with amendments in 1973 and 1979), the Queen of the United Kingdom is represented in the Bermuda Islands by a governor (D. Hoddington), who is responsible for foreign policy, defense, police, and internal security. The legislative body is a bicameral parliament consisting of a Senate (11 appointed senators) and a House of Assembly. The House of Assembly includes 40 members, elected by universal suffrage for a term of 5 years (the Progressive Labour Party won the 2003 elections). Executive power is exercised by the government headed by the Prime Minister (A. Scott).
Political parties: The Progressive Labour Party (PLP) - founded in 1963, the ruling party. It advocates granting independence to the Islands. Leader - A. Scott. The United Bermuda Party (UBP) - founded in 1964, opposition. The National Liberal Party (NLP) - founded in 1985.
Trade unions: The Bermuda Industrial Union - established in 1946, has over 5,000 members; it is affiliated with the ICFTU and the ITUC. The Bermuda Public Services Association - established in 1961, has more than 2,000 members.
The Islands were discovered by Spanish navigator J. Bermudez in 1522. The first English settlement appeared here in 1609. Since 1684, it has been a colony of England. In 1968, the Islands were granted internal self-government. In May 1989, the British government rejected the Bermuda Islands government's plans for independence. In a referendum on independence in August 1995, a vast majority voted to maintain the status of a dependent territory. Until the mid-90s, the USA maintained military bases here, including a naval base (Kings Point), an air force base, and a satellite tracking station.
The backbone of the Bermuda Islands' economy is foreign tourism, which accounts for about 60% of foreign currency earnings annually. About 70% of the self-employed population of Bermuda is directly or indirectly engaged in servicing foreign tourists. Up to 600,000 tourists visit the Islands annually (about 90% from the USA). The number of tourists is strictly controlled to preserve recreational landscapes.
In 2002, the GDP of the Bermuda Islands was $3.75 billion.
Industry accounts for about 10% of GDP. More than 10% of the economically active population is employed here. There are ship repair, boat building, and production enterprises for pharmaceuticals, perfumes, paints, and building materials. The main export item is pharmaceuticals. Fuel needs (about 200,000 tons of oil per year) are met through imports. Electricity production is about 500 million kWh per year.
The Bermuda Islands are an important financial center (foreign companies' operations are tax-exempt). Revenues from this sector of the economy account for over 20% of GDP. More than 6,000 foreign companies are registered here. By the tonnage of foreign vessels registered here (3 million gross registered tons), the Islands rank 5th in the world.
About 1% of the self-employed population is engaged in agriculture. The main crops are potatoes, tomatoes, cabbage, and bananas. Flowers are grown for export. Fishing is conducted, with a catch of about 800 tons. 80% of all consumed products are imported from abroad.
The inflation rate is over 2%.
The main port is Hamilton. The only runway is located at the former US military base. Main trading partners: the USA (60% of import value, about 23% of exports), Canada, Japan.
The highest educational institution is the Bermuda College. Several periodicals are published, including the weekly newspaper "Mid-Ocean News" (circulation 14,000 copies) and the daily "Royal Gazette" (17,500). There are radio and television stations operating.