The most recent Archer report on the impact of international companies on the economy of Bermuda indicates the Island's growing dependence on the sector.

International business employed about 2,700 people, paid $281 million in salaries and benefits, added $54 million to the Government purse, and spent $631 million locally in 1996.

Of that $160 million was paid as profession fees and bank fees to Bermuda-based busineses, largely members of the Bermuda International Business Association.

In terms of employment Bermudian workers made up aboiut 58 percent of the international business workforce. While females accounted for 60 percent of the total workforce, they made up 77 percent of the Bermudian workers employed.

Dr. Brian Archer, who was contracted by Government to do the report, attributed the anomaly to the fact Bermudians were more likely to be employed in non-managerial positions such as bookkeepers, secretaries, typists and clerks.

About 24 percent of Bermudian workers were employed as managers and accountants in 1996, compared with 73 percent in the cases of non-Bermudians.

This figure remained the same as reported for 1995 by Dr. Archer.