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Bermuda was first settled in 1609 by shipwrecked English colonists headed for Virginia. Vacationing 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 also developed into a highly successful offshore financial center. A referendum on independence from the UK was soundly defeated in 1995.
consists of about 138 coral islands and islets with ample rainfall, but no rivers or freshwater lakes; some land was leased by the US Government from 1941 to 1995
elections:
the monarchy is hereditary; governor appointed by the monarch; following legislative elections, the leader of the majority party or the leader of the majority coalition usually appointed premier by the governor
bicameral Parliament consists of the Senate (11 seats; members appointed by the governor, the premier, and the opposition to serve a five-year term) and the House of Assembly (36 seats; members are elected by popular vote to serve up to five-year terms)
elections:
last general election held on 17 December 2012 (next to be held not later than 2017)
election results:
percent of vote by party - OBA 51.7%, PLP 46.1%, other 2.2%; seats by party - OBA 19, PLP 17
Supreme Court (Chief Justice and other justices appointed by the governor; remain in office until they reach 65 years of age); Court of Appeal (President of the Court of Appeal and other justices appointed by the governor for a specific period laid out in their respective instruments of appointment); Magistrate Courts
Bermuda Employer's Union [Eddie SAINTS]; Bermuda Industrial Union or BIU [Derrick BURGESS]; Bermuda Public Services Union or BPSU [Ed BALL]; Bermuda Union of Teachers [Michael CHARLES]
consulate(s) general:
Crown Hill, 16 Middle Road, Devonshire DVO3
mailing address:
P. O. Box HM325, Hamilton HMBX; American Consulate General Hamilton, US Department of State, 5300 Hamilton Place, Washington, DC 20520-5300
red, with the flag of the UK in the upper hoist-side quadrant and the Bermudian coat of arms (a white shield with a red lion standing on a green grassy field holding a scrolled shield showing the sinking of the ship Sea Venture off Bermuda in 1609) centered on the outer half of the flag; it was the shipwreck of the vessel, filled with English colonists originally bound for Virginia, that led to settling of Bermuda
note:the flag is unusual in that it is only British overseas territory that uses a red ensign, all others use blue
Despite four years of recession and a public debt of $1.4 billion, Bermuda enjoys the fourth highest per capita income in the world, about 70% higher than that of the US. The average cost of a single-family home in 2012 was $1.1 million. Its economy is primarily based on international business and the provision of financial services to that sector, and to a lesser extent tourism. A number of reinsurance companies relocated to the island following the 11 September 2001 attacks on the US and again after Hurricanes Katrina, Rita, and Wilma in 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 and has dropped in its relevant importance to the economy, although it is still important as a job creator. Bermuda must import almost everything. Agriculture is limited due to the small size of the island and Bermuda's industrial sector is small.
general assessment: a good, fully automatic digital telephone system with fiber-optic trunk lines
domestic:
the system has a high fixed-line teledensity coupled with a mobile-cellular teledensity of roughly 125 per 100 persons
international:
country code - 1-441; landing points for the GlobeNet, Gemini Bermuda, and the Challenger Bermuda-1 (CB-1)submarine cables; satellite earth stations - 3 (2009)
by type:
bulk carrier 22, chemical tanker 3, container 14, liquefied gas 43, passenger 27, passenger/cargo 2, petroleum tanker 19, refrigerated cargo 9
foreign-owned:
105 (France 1, Germany 14, Greece 8, Hong Kong 4, Ireland 1, Israel 3, Japan 2, Monaco 2, Nigeria 11, Norway 5, Sweden 14, UK 14, US 26)
registered in other countries:
241 (Bahamas 15, Cyprus 1, France 5, Greece 3, Hong Kong 20, Isle of Man 7, Liberia 4, Malta 15, Marshall Islands 35, Netherlands 1, Norway 24, Panama 27, Philippines 47, Saint Vincent and the Grenadines 1, Singapore 25, UK 6, US 5) (2010)
18-45 years of age for voluntary male or female enlistment in the Bermuda Regiment; males must register at age 18 and may be subject to conscription; term of service is 38 months for volunteers or conscripts (2012)
The online Factbook is updated weekly. ISSN 1553-8133
For additional information on government leaders in selected foreign countries, go to World Leaders.
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