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Attraction of living and working in Bermuda featured in Newsweek

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A report on living and working in Bermuda has been featured in Newsweek magazine (Photograph by Blaire Simmons)

Bermuda is featured in Newsweek magazine’s latest country report section as part of the publication’s “live and work” series.

The report covers the island’s efforts to relaunch the tourism sector and build a future-proof economy through the convergence of innovative technologies and financial services.

The section will be published in the international version of Newsweek in more than 55 countries, the Bermuda Business Development Agency said.

The BDA added that the report is live now on Newsweek.com.

The “Live and Work in Bermuda” report features commentary from government and business leaders, including David Burt, the Premier; Curtis Dickinson, the Finance Minister; Roland Andy Burrows, CEO of the Bermuda Business Development Agency; Stephen Weinstein, chairman of the BDA; Craig Swan, deputy CEO of the Bermuda Monetary Authority; and Albert Benchimol, CEO of Axis Capital.

The BDA said the report includes 21 interviews that highlight the strength of Bermuda’s business industry and economy and details the strategies the country has employed to direct the economy in a post-pandemic society.

Mr Burrows said: “In this special report, readers will learn how Bermuda is a safe and stable jurisdiction with a pro-business environment that embraces innovation.

“Through initiatives such as the Economic Investment Certificate and the Bermuda tech summit, Bermuda has crafted various options for business leaders around the world to experience the Bermuda difference and to do business here.

“The BDA remains committed to supporting business development in Bermuda and advocating internationally on Bermuda’s behalf, positioning it as the jurisdiction of choice to do business, especially climate risk finance.”

The BDA said Newsweek’s live and work series examines the world’s most successful citizen by investment programmes and explores the global talent migration phenomenon.

Through its EIC and Work from Bermuda certificate initiatives, the BDA said Bermuda has attracted professionals and high net worth individuals to relocate to and work from Bermuda.

It added that the jurisdiction’s thriving business sector, innovative and sophisticated culture, and beautiful natural setting make for an ideal living and working environment, further cementing Bermuda as a top business destination.

Mr Dickinson said: “For those who are looking to start a business here, whether it’s in the insurance/reinsurance industry, or any other industry, they can hit the ground running fairly easily. Bermuda is not only a safe place to work from, we are a jurisdiction that has built our reputation for being a place that does good business with good people.

“The government, the regulator and industry have a fantastic and longstanding relationship of collaborating. These three stakeholders are all located within one mile of each other; enabling people to get together to get things done. For me, there is no better place in the world to have a successful career and raise a family.”

Erica Smith, executive director of the Bermuda Economic Development Corporation, said: “Bermuda’s proximity to the United States makes our island a perfect jurisdiction to conduct business or to vacation.

“We have a pre-eminent banking and insurance industry and an infrastructure that lends itself to easy access to imported goods.

“Bermuda can be considered one of the most beautiful places in the world, which creates an attractive environment for visitors and those considering relocating here for work.”

Arthur Wightman, territory leader for PWC Bermuda, said: “This is a very innovative and dynamic place, and at the same time, well-regulated. That gives investors the confidence to raise billions of dollars of capital in Bermuda.

“This symbiosis between the commercial and regulatory landscapes allows agility, speed to market and customer responsiveness and at the same time global regulatory excellence.

“This fosters a solution-oriented approach to some of the world's largest protection gap challenges all under the regulatory incubation setting championed by the Bermuda Monetary Authority.”

Roland Andy Burrows, CEO of the Bermuda Business Development Agency (File photograph)

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Published May 24, 2021 at 8:00 am (Updated May 25, 2021 at 8:03 am)

Attraction of living and working in Bermuda featured in Newsweek

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