Member state: United Kingdom
Surface area (km2): 54.35
Population: 64,237 (census 2010)
Density (/km2): 1182
Capital: The City of Hamilton, Pembroke
International Business and Tourism serve as Bermuda’s largest two industry sectors. As one of the world’s leading International Financial Centres (IFCs), Bermuda is renowned for it’s (re)insurance industry. Bermuda also offers a range of banking and investment services. The second largest industry is Tourism which attracts over 500,000 visitors annually, the majority of visitors hailing from North America. In 2012, the Gross Domestic Product (GDP) equaled US$5.5Billion. GDP per capita measured US$84,381 per person.
Bermuda is Britain’s largest and oldest remaining Overseas Territory, its external affairs are represented by the UK and Her Majesty Queen Elizabeth II as Head of State. Internally Bermuda is self-governing and has the most autonomy of all the Overseas Territories. The head of Government is the Premier, the Hon Michael Dunkley JP, MP who nominates a Cabinet that is appointed officially by the Governor. The Legislative branch consists of a bicameral Parliament modelled after the UK’s Westminster system. Parliament, has two chambers: the House of Assembly (the ‘Lower House’ of 36 elected members) and the Senate (the ‘Upper House’ of appointed members).
The Government’s commitment remains on strengthening the economy through seeking Foreign Direct Investment (FDI) and enabling international business to thrive under a world-leading regulatory regime. The Government’s is also committed to prioritising job creation for the people of Bermuda.