Bermuda’s electronic communications sector lost more than one in ten jobs last year, even as revenues held steady and consumers turned increasingly to switching providers in search of better service.

According to the Regulatory Authority’s Annual Market Analysis 2023—2024, employment in the sector fell 11.5 per cent to 307 jobs in 2024, down from 347 the year before. The decline comes despite sector revenue rising slightly to $200.2 million, a 0.25 per cent increase over 2023.

Customer frustration appears to be growing. Number-portability requests, which allow consumers to keep their phone numbers when changing carriers, surged 31 per cent to 6,591 in 2024. More than four out of five requests were completed successfully, with the average time to port falling to 2.7 days from 6.1 days the year before.

Government revenues from the industry remained steady at $18 million. However, a change in July of this year halved the monthly handset fee from $12 to $6, potentially reducing government income in future years.

There were bright spots. Broadband subscriptions grew four per cent to 32,858, with penetration topping 104 per cent of households. Average speeds reached nearly 294 megabits per second, placing Bermuda in the middle of global rankings.

Meanwhile, Google is preparing to invest in the island’s connectivity with its new “Nuvem” submarine cable, which will link Bermuda with Portugal and the United States by 2027-28. The cable is expected to boost resilience and international competitiveness.

Still, the sector remains highly concentrated. One Communications holds nearly half the market by revenue, while Digicel accounts for 39 per cent.