1.

Country

(Bermuda)

2. History of the country chosen: name 1-3 important issues

Bermuda is also referred to as Bermudas. The first known European explorer to
reach Bermuda was Spanish sea captain Juan de Bermudez in 1503, after which the
islands are named.
With its 69,839 people, Bermuda is the 201st largest country in the world by
population. It is the 213th largest country in the world by area with 54 square
kilometers.
Bermuda was first settled in 1609 by shipwrecked English colonists headed for
Virginia. Self-governing since 1620, Bermuda is the oldest and most populous of
the British overseas territories. 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.
3. Politics of the country chosen:
The current ruling party in Bermuda is the One Bermuda Alliance, commonly
referred to as the OBA. They were voted into power in December 2012 after
Bermuda was ruled by the Progressive Labor Party for 14 years, from 1998 to
2012.
Elections must be called at no more than five-year intervals. The most recent took
place on 17 December 2012. Following this election, the One Bermuda Alliance
took power, with Craig Cannonier succeeding Paula Cox, of the Progressive
Labour Party.
The American diplomatic presence is an important element in the Bermuda
political landscape.

4. Economics of the country chosen: name 1-3 important issues

Bermuda's GDP is over $9 billion, or about $27,500 per capita-one of the highest
per capita income rates in the world. Most Bermudians owe their livelihood,
directly or indirectly, to tourism, which provides 55% of GDP. Bermuda's economy
is based on offshore insurance and reinsurance, and tourism, the two largest
economic sectors. Bermuda had one of the world's highest GDP per capita for most
of the 20th century and several years beyond.
Recently, its economic status has been affected by the global recession. It has a
subtropical climate. Bermuda is the northernmost point of the Bermuda Triangle, a
region of sea in which, according to legend, a number of aircraft and surface
vessels have disappeared under supposedly unexplained or mysterious
circumstances. The island is in the hurricane belt and prone to severe weather.
Bermuda became a popular destination for American, Canadian and British tourists
arriving by sea
5. Give basic information on work conditions, salary, qualifications compared
to your own country
Salary:
Maximum: $111,938 and Lowest: $35000
Qualification:
Qualification of people in Bermuda is average as compared to India
6. Export perspective
T-shirts
Cotton
Ready Made Garments
Ceramic Tile
-

7. What is usual, when you do business with this country?

a. When meeting each other:
You may not find a good response unless you greet them and show your
friendliness to people of the island who boasts of being from one of the friendliest
countries in the world.
b. Business communications:
English is the official and predominant language, but Portuguese is also
spoken across the island.
c. Regular working hours/ breaks/ appointments:
The typical work week is Monday to Friday from 9 a.m. to 5 p.m. with an hour for
lunch. At least 24 hours of consecutive rest must be provided each week
d. Use of social media:
Use of social media is common but not much in business relation unless its a
marketing related service or something similar to that. Professionals are connected
on LinkedIn.
8. When you are into business mind this:
Respect their customs and traditions even in the work environment.
The correct evening wear is taken seriously in Bermuda and although the wearing
of Bermuda shorts with a jacket and tie complete with long socks is considered the
correct formal wear.
And the Bermuda Government requires a detailed business plan, registration of the
business name, and a business license. Once the government approves a business
plan, businesses should contact a local accounting firm for further assistance.
9. Never ever:
o Never be late for a meeting as the country is quite stringent on punctuality.
o Avoid talking on politically sensitive issues
o Do not interfere in others personal space.