This is a best prospect industry sector for this country. Includes a market overview and trade data.

Overview
Transportation: The Ministry of Tourism Development and Transport administers the departments of Civil Aviation, Airport Operations, Marine and Ports Services, Maritime Administration, Transport Control Department, and the Public Transportation Board, the latter of which operates the island’s extensive bus and ferry system. As of March 2016, the Bermuda aircraft registry had a total of 757 aircraft on the registry, 18 fewer than in 2015. Most are new, sophisticated, and technically advanced corporate jets, owned by high net worth individuals.

Communications: Legislative changes in 2013 allowed for the bundling of telecommunications services, including cell phone, long distance, cable television, and internet services, via Integrated Communication Operating Licenses (ICOLs). This change created operating efficiencies and better pricing for consumers. Bermuda’s Internet rates are not competitive compared to other similarly-sized island nations. As of March 1, 2016, the average price in Bermuda was $265 for 25 Mbps, compared to Cayman’s $159. Average internet speeds are slower than those in the U.S.

Bermuda’s internal telephone system is gradually being upgraded to one hundred percent digital, with fiber optic trunk lines. The overseas links are fiber optic cables, and there is considerable redundancy built into the system to negate the effect of faults.

The GOB operates postal services. International courier services include DHL, Federal Express, UPS, IBC, and ZipX.

Sub-Sector Best Prospects
Best products and services for U.S. investment include: aircraft, buses, ferries, motor vehicles, postal and courier services, and telecommunication technology and equipment. Since 2012, Bermuda has chartered a ferry from a U.S. company to supplement its aging fleet. More ferries may be needed in the near future.

Opportunities
There is no information on specific investment opportunities at this time.

Web Resources
Ministry of the Health, Seniors  and Environment: www.gov.bm
Ministry of Tourism Development &Transport: www.gov.bm
Department of Telecommunications: www.gov.bm
 

 

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2017 (Estimated)

Market Size

2,046

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Local Production

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Imports

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Exports

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Total Market Size

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$US thousands  (total market size = (total local production + imports) - exports)
 

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.