The economy continues to grow at a strong and steady rate. Growth in GDP is estimated at 2.9 percent for the current fiscal year compared to 3.3 percent in 1999/00.

International business was the largest contributor to economic growth in 2000 which accounted for 2.3 percent of the 3.3 percent growth. The number of registered companies rose by 9.5 percent to 12,567.

Expenditure by international firms rose by 12 percent to $1 billion. Despite the strong growth of international companies this sector reported a small decline in filled jobs.

The growth displayed by the international business sector is offset by the decline in tourism. Tourism continues to show a downward trend.

Visitor expenditures are projected to decrease five percent from the previous year. As a result, employment in the hotel and restaurant sectors is down nine percent.

Overall the number of jobs in Bermuda was relatively unchanged, there were significant employment gains in the fields of accounting, computer science and construction.