Principal Findings of the Archer Report of the Impact of International Business 2000 (published last year)

12,567 international companies were registered in Bermuda at the end of December - an increase of 9.5 percent on 1999.

Up to 372 of these companies had a physical presence in Bermuda.

International companies spent $967.3 million and their visitors a further $58 million

Those companies with a physical presence accounted for almost 79 percent of the expenditure even though they comprised of less than three percent of the the total.

$405 million was paid as wages, salaries and benefits in Bermuda.

$84.1 million was paid as taxes, fees duties and licences to the public sector.

$256.7 million was paid as professional fees and bank fees to Bermudian companies and a further $221.5 million to other companies in Bermuda.

1,825 Bermudian employees and 1,399 non-Bermudians worked for international companies

Total income generated was $1,292 million

Total public sector revenue generated was $321 million

Net* impact on balance of payments as $642 million

Total* employment generated was over 9,450 jobs and a further 4,670 were affected.

(* including secondary effects, including household re-spending and also the impact made by business visitors)