II.

Economy

The picturesque scenery and the warm, sunny climate make the Bermuda Islands a popular resort. Tourism is an important part of the islands’ economy, and more than 299,000 tourists visited in 2006. In the 1990s, however, international business, including banking and insurance, began to dominate Bermuda’s economy, largely because of lenient tax policies. Manufactured goods include pharmaceuticals, perfumes, flavoring extracts, mineral-water extracts, and essential oils. Only a very small area is under cultivation; bananas, vegetables, and cut flowers are produced. Bermuda’s main imports include food supplies, manufactured goods, and fuels. The Bermuda dollar is the unit of currency (1 Bermuda dollar equals U.S.$1; fixed rate). Roads total 240 km (150 mi). Bermuda is serviced by several international airlines and shipping companies, and enjoys one of the highest per capita incomes in the world.