Business Opportunities in Bermuda by U.S. Department of Commerce (English) Paper
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Business Opportunities in Bermuda by U.S. Department of Commerce (English) Paper. Proximity makes the U.S. Bermuda's primary trading partner. An estimated 8,000 U.S. citizens also live in Bermuda. IB is Bermuda's economic foundation, contributing directly and indirectly about 70% of total GDP in 2012, compared to tourism's direct and indirect contribution of 11.7%. Business Opportunities in Bermuda by U.S. Department of Commerce Estimated delivery 3-12 business days Format Paperback Condition Brand New Description English-speaking Bermuda is a 21-squre-mile island isolated in the Atlantic Ocean, 700 miles away from its nearest neighbor, the United States. Proximity makes the U.S. Bermuda's primary trading partner. With no natural resources other than its appeal as an offshore business center and a vacation destination, Bermuda imports most everything; 68% ($601.4 million) of the island's imports derived from the U.S. in 2012, the latest date for which statistics are available. In addition, Bermuda's tourism industry relies on U.S. visitors - more than 472,000 or about 81% of all cruise and air passengers in 2013. An estimated 8,000 U.S. citizens also live in Bermuda. Bermuda's economy relies on foreign direct investment (FDI), primarily international business (IB) - insurance and reinsurance. Tourism also brings in foreign exchange, but to a much lesser degree. IB is Bermuda's economic foundation, contributing directly and indirectly about 70% of total GDP in 2012, compared to tourism's direct and indirect contribution of 11.7%. Bermuda's economy is in its sixth consecutive year of recession. In 2012, GDP was USD 5.5 billion, down 4.9% from 2011. The GOB expects overall GDP in 2013 to have contracted by another 2-2.5%. The National Economic Report 2013 projected that Bermuda's GDP will decline slightly in the region of 1.5 -0.0% in 2013. In March 2013, the GOB passed emergency legislation raising the debt ceiling from USD 1.45 billion to 2.5 billion and in July 2013 raised USD 750 million in a bond issue to cover operating deficits for the next three years. In December 2013 it launched another bond issue in Bermuda dollars in the amount of USD 50 million. U.S. ratings agencies are cautious about Bermuda. In May 2014, Moody's Investors Service downgraded Bermuda's rating from Aa3-negative to A1-stable, citing the "ongoing deterioration of Bermuda's key fiscal metrics" and the "persistent economic recession." Moody expects output to grow in 2014 but believes any recovery to be fragile. Also in May, Fitch Ratings downgraded Bermuda's long-term foreign and local currency Issuer Default Ratings [IDRs] from AA- to A+, the issue ratings on its senior unsecured foreign and local currency bonds from AA- to A+, its Country Ceiling from AA+ to AA, and its short-term foreign currency IDR from F1+to F. Fitch noted "improved business confidence" and believes that the economy "could be stabilizing" but expects "gross public debt to continue rising and reach 43.3 percent of GDP by 2016." In April 2014, Standard and Poor affirmed Bermuda's AA- credit rating with a negative outlook. Details ISBN 1502334925 ISBN-13 9781502334923 Title Business Opportunities in Bermuda Author U.S. Department of Commerce Format Paperback Year 2014 Pages 64 Publisher Createspace Independent Publishing Platform GEItemID:93324101; About Us Grand Eagle Retail is the ideal place for all your shopping needs! With fast shipping, low prices, friendly service and over 1,000,000 in stock items - you're bound to find what you want, at a price you'll love! Shipping & Delivery Times Shipping is FREE to any address in USA. Please view eBay estimated delivery times at the top of the listing. Deliveries are made by either USPS or Courier. We are unable to deliver faster than stated. International deliveries will take 1-6 weeks. NOTE: We are unable to offer combined shipping for multiple items purchased. This is because our items are shipped from different locations. Returns If you wish to return an item, please consult our Returns Policy as below: Please contact Customer Services and request "Return Authorisation" before you send your item back to us. Unauthorised returns will not be accepted. Returns must be postmarked within 4 business days of authorisation and must be in resellable condition. Returns are shipped at the customer's risk. We cannot take responsibility for items which are lost or damaged in transit. For purchases where a shipping charge was paid, there will be no refund of the original shipping charge. Additional Questions If you have any questions please feel free to Contact Us. Categories Baby Books Electronics Fashion Games Health & Beauty Home, Garden & Pets Movies Music Sports & Outdoors Toys
