International business is the single most important sector of Bermuda’s economy, responsible for three-quarters of Bermuda’s Gross National Product. How to sustain the growth and health of this crucial sector – without having a negative effect on Bermuda’s limited infrastructure – is a point of ongoing debate by the Government, the business sector and the community at large.
There is concern on the part of the Government that Bermudians are not progressing sufficiently in international business. Businesses have concerns that some affirmative action policies designed to protect the Bermudian workforce, and the high cost of living and doing business in Bermuda, could impede their competitiveness in the international arena.
How these issues are addressed will be pivotal to the long-term health and well-being both of the Island and the international businesses based in Bermuda.
ABIC is actively working to create a baseline of meaningful statistical information about the composition of the international business workforce in terms of citizenship, race, qualifications and perceptions of their opportunities, as well as the level of satisfaction with Bermuda’s infrastructure and employment policies on the part of business leaders.