Bermuda
|
Bermuda is a British overseas territory in the North Atlantic Ocean. Located off the east coast of the United States, it is situated around 1,770 kilometres (1,100 mi) northeast of Miami, Florida, and 1,350 kilometres (840 mi) south of Halifax, Nova Scotia, Canada. The nearest landmass is Cape Hatteras, North Carolina, about 1,030 kilometres (640 mi) west-northwest.
Bermuda was first settled in 1609 by shipwrecked English colonists headed for Virginia. Tourism to the island to escape North American winters first developed in Victorian times. Tourism continues to be important to the island's economy, although international business has overtaken it in recent years. Bermuda has developed into a highly successful offshore financial center. Although a referendum on independence from the UK was soundly defeated in 1995, the present government has reopened debate on the issue.
Its major environmental issues include: sustainable development.
Geography
Location: North America, group of islands in the North Atlantic Ocean, east of South Carolina (US)
Geographic Coordinates: 32 20 N, 64 45 W
Area: Total: 53.3 sq km
arable land: 20%
permanent crops: 0%
other: 80% (55% developed, 45% rural/open space) (2005)
Coastline: 103 km
Maritime Claims: Territorial sea to12 nautical miles and an exclusive fishing zone to 200 nautical miles
Natural Hazards: Hurricanes (June to November)
Terrain: Low hills separated by fertile depressions. The highest point is Town Hill 76 m
Climate: Subtropical; mild, humid; gales, strong winds common in winter
Ecology and Biodiversity
The Bermuda islands were once covered in dense forest of endemic tree species, with mangrove forests lining the coasts and inland saltwater ponds. The islands are distinguished as having the northernmost mangrove forests in the Atlantic, which is made possible by the warm Gulf Stream current. Bermuda’s isolation led to the evolution of many endemic species, including the endangered Bermuda petrel (Pterodroma cahow), the Bermuda skink (Eumeces longirostris), and many endemic invertebrates. Restricted to this small archipelago, all endemic species are especially vulnerable to introduced predators and alien pests, and unfortunately the islands have seen the extinction of many species since the time of human settlement. Due to intense human activity, only very small areas of natural habitat remain on Bermuda today. Though the islands have a well-managed and well-funded system of protected areas, this is one of the world’s most densely populated regions. Additionally, Bermuda is subject to intense pressure from a heavy tourist industry.
See: Bermuda subtropical conifer forests and See: Biological diversity in the Caribbean Islands.
Government
Government Type: Parliamentary; self-governing territory
Capital: Hamilton
Legal System: English law
People and Society
Population: 67,837 (July 2009 est.)
Age Structure:
0-14 years: 18.3% (male 6,271/female 6,163)
15-64 years: 67.5% (male 22,555/female 23,215)
65 years and over: 14.2% (male 3,979/female 5,654) (2009 est.)
Population Growth Rate: 0.647% (2009 est.)
Birthrate: 11.15 births/1,000 population (2008 est.)
Death Rate: 7.98 deaths/1,000 population (2008 est.)
Net Migration Rate: 2.2 migrant(s)/1,000 population (2009 est.)
Life Expectancy at Birth: 80.43 years
Total Fertility Rate: 1.99 children born/woman (2009 est.)
Languages: English (official), Portuguese
Literacy: 98%
Water
Agriculture
Agricultural products: Bananas, vegetables, citrus, flowers; dairy products, honey
Resources
Natural Resources: limestone, pleasant climate fostering tourism.
Economy
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.
GDP: (Purchasing Power Parity): $4.5 billion (2004 est.)
GDP: (Official Exchange Rate): $NA
GDP-real growth rate: 4.6% (2004 est.)
GDP- per capita (PPP): $69,900 (2004 est.)
GDP- composition by sector:
agriculture: 1%
industry: 10%
services: 89% (2002 est.)
Industries: international business, tourism, light manufacturing
Currency: Bermudian dollars (BMD)
Further Reading
Return to Bermuda's country profile
<p>Return to the Latin America and the Caribbean Collection </p><p> </p>