February 23, 2011Dear Sir,As a long-time repeat visitor to Bermuda, I read with interest two articles in Tuesday’s paper. The first concerned the state of tourism on the Island and the second a report on plans by the government of the Cayman Islands to woo the reinsurance industry and other financial related business away from Bermuda. Despite being an outsider, my company is very heavily invested in the prosperity of Bermuda and as an interested party I wonder if I might add a few comments to the debate?I believe that one of Bermuda’s most important assets in luring business from the US is the reputation it has for being conservative, even stodgy. Bermuda is seen by most Americans as very British, very safe, very friendly and different in only the most comfortable of ways. While this perception may not please everyone in Bermuda, I believe it is a card that can be played effectively. The majority of the American public, when told someone is banking in the Cayman Islands, have a perception of illegal or unethical behaviour being involved. Banking in Bermuda has no such stigma. Positioning Bermuda as the “ethical choice” for offshore investments may have no basis in fact or reason, but I believe it would be hard for the Caymans to overcome.This same perception of Bermudian integrity could also be an inducement to get tourists to open their pocketbooks, provided there was also a financial incentive. In many Caribbean nations, shopping for high end goods incurs a perceived risk of fraud. Not so in Bermuda. But, when I walk down Front Street, I see merchandise priced at or above the same price I could pay for it in the States and there is no incentive to buy. If, however, Bermuda was willing to refund to me a significant portion of the import duties that had been paid on the item (so long as I filed paperwork with receipts as I was leaving the country) there would be a large incentive. Even though I might need to wait a few weeks to get my tax cheque in the mail, saving several hundred dollars on some high end purchase might also be an inducement to celebrate while in town with a drink or meal as well. Best to everyone, and see you next visit.AN INTERESTED VISITORUSA