Completed List of 35 Developed Countries

MARXIST (An Encyclopedia of Countries from poorest); http://radhikaranjanmarxist.blogspot.com


35 Developed Countries( gdp in atlas method in US Dollars,2003)



ASIA ( 6 )

Sl.No. Name of Country gdp in atlas method,2003



153 Macao 14,600

156 Israel 16,020

157 Kuwait 16,340

159 Singapore 21,230

165 Hong Kong 25,430

179 Japan 34,510



Latin America, South and Central America ( 3 )



154 Bahamas 14,920

169 Cayman Island NA

185 Bermuda NA



Oceania ( 2 )



155 New Zealand 15,870

161 Australia 26,720



Europe ( 21)



151 Cyprus 12,320

152 Greece 13,720

158 Spain 16,990

160 Italy 21,560

163 France 24,770

164 Germany 25,250

168 Netherlands 26,310

170 Austria 26,720

171 San Marino NA

172 Ireland 26,960

173 Finland 27,020

174 United Kingdom 28,350

175 Sweden 28,840

176 Iceland 30,810

177 Cayman Island NA

178 Denmark 33,750

180 Liechtenstein NA

182 Switzerland 39,880

183 Norway 43,350

184 Luembourg 43,940



America ( 3 )

162 Canada 23,930

166 Monaca NA

181 United States 37,610



THE END

Music of Bermuda

Economy and Industry

Bermuda Economy and Industries

 

People in Bermuda get one of the highest pay scales in the world. Yes that's true. Bermuda economy still enjoys one of the highest per capita earning in the world. In 2009, the average annual salary of a serviceman in Bermuda was over $56,000. And many earn much much more than that. So happy to know this? Thinking of a job in Bermuda? Now hear this out. Bermudians have world's one of the highest cost of living. Yes, they have to spend a lot to survive. 

 

That's because most capital equipment and almost 80% of food are imported. Bermuda has no natural resources like oil, gas, gold or anything. Due to lack of adequate farming land, agriculture in Bermuda is also very limited. And there is heavy import duty levied on all goods that are imported. So prices are often quite scary. 

 

In spite of that, Bermudians earn enough to have a healthier life style compared to people in many other countries. 

 

Living Standards in Bermuda 

Although there is no sales or income tax in Bermuda, the cost of goods including food is pretty high. It forces Bermudians to earn a minimum pay which is far higher than anywhere in the world. Although there is hardly any poverty in Bermuda, the low income line is around $27,000 per year. If one is below this earning line, one is said to be poor in Bermuda and will struggle to survive without an aid. Check out Cost of Livingto know what it takes to be Living in Bermuda. 

 

In 2007, only 11% of the Bermudians were below the low income line. This band mainly consist of single parents with no full time job, senior citizens or the disabled persons. By the way, Bermuda unlike other countries in the world, makes no concession for the disabled or the senior citizens, and life is quite hard for them. UPDATE June 2011:Senior Citizens to get a three per cent pension increase from August 2011. 

 

  

 

Many of the Bermudians hold more than one jobs in the island to maintain their living standards and to pay off their home loans. See Life in Bermuda to know what one of my friends in Bermuda had to say on her own life. She by the way runs a well known boating tours in Bermuda along with her husband. 

 

Real estate in Bermuda 

If you hear the average price of a house in Bermuda, you will think that they are only meant for the millionaires. While that's largely true, many average Bermudians still make it by slogging out their initial life with more than one jobs. An average house costs close to a million dollar in Bermuda. 

 

While there is no sales or income tax in Bermuda, there does exist a fairly heavy property or real estate tax. So if you look at an average Bermudian life style, a couple would typically take up two jobs each. They will save every penny they can to buy a land over a period of few years. Once they have the land, they will get good loans by mortgaging their land property and start building their own house while still living in a rented apartment. 

 

Finally when the house is built, they will rent that out so that the loan liabilities can be paid off from the rentals itself. In about 15 years or so, they will clear out all their loans and shift into their own proud home. Looks simple? No, it's a lot of hard work!! 

 

Bermuda Industries 

 

So what are the main industries in Bermuda? The two top industries that continue to control economy of Bermuda are the International Business and the Tourism Industry. 

 

International Business 

While the international business in Bermuda has been on the rise with over 15,000 international companies having set up their operations in Bermuda, the tourism industry has been going through some rough patches over the last few years. Tourism had always remained the second most important industry in Bermuda. Between International business and Tourism, Bermuda receives over 70% of its total foreign currency earnings. 

 

The international business is mainly around insurance, re-insurance (i.e. insuring another insurance company), captive insurance, and fund and trust management. Bermuda runs the third largest re-insurance in the world and second largest captive insurance domicile. To know more about the this sector, checkout Bermuda's Insurance Industry. 

 

This sector has spent an estimated $2 billion in Bermuda and provided large number of jobs. International business contributes 24% of the total GDP of Bermuda as per 2009 reports. 

 

Over the years, prudent financial management of Bermuda has made it a global magnet for the international business. An independent body called the Bermuda Monitory Authority (BMA) has gained control of all the supervisory and regulatory rights from the Bermuda Government. BMA oversees the international business with complete transparency, coordinates with US and international community, and ensures that there is no money laundering, fraud or other financial crimes. 

 

  

 

A recent report from KPMG has stated that the island's legislative framework is almost fully compliant with international standards. Bermuda has recently received a Sovereign rating of AA+ from Fitch which a global credit rating agency. Check out Bermuda Sovereign Ratings for credit ratings by different agencies. 

 

Tourism Industry 

This is the second most significant force in Bermuda's economy. While majority of leisure visitors come by cruise (over 350,000), the tourists who come by air contribute more towards Bermuda's economy in terms of hotel stay, dining out etc. 

 

Jobs in Bermuda 

Bermuda had always followed the trend of US economy as well as the global economy. For example, in early 1990s due to economic downturn, about 2000 people lost their jobs in Bermuda as many work permits were not renewed. There was a similar impact in 2001-02 as well, although to a far lesser degree. Although International Business used to be the top employment provider in Bermuda, it's no longer so. 

 

Estimated jobs in 2009 in International Business has been about 4,400, down from about 4,750 in 2008. Whereas wholesale, retail and repair services provided about 4,750 jobs and Hotels & Restaurants about 4,700 jobs in 2009. Bermuda Government is the largest employer in the island. As per 2009 estimates, average job salary in Bermuda was $56,000 per year and an annual pay of less than $27,000 means that one is below the poverty line. 

 

Bermuda Import and Export of goods 

Bermuda virtually has no natural resources. Almost all the manufactured goods and foodstuff are imported. In 2009, import was to the tune of $1 billion. Items that Bermuda imports includes food, clothing, household goods, machinery, transport, chemicals, live animals and miscellaneous items. 

 

Much of the import is from US (about $800 million). The other major supplying countries to Bermuda includes UK, Canada and some parts of the Caribbean Islands. 

 

Import in Bermuda has been rising over the years. Duties on import has been a major source of revenue for Bermuda. In financial year 2009-2010, the import duty constituted 24% of the revenue amounting to about $225 million. 

 

Such heavy import duty has its impact on the prices of the goods in the island. Although there is no additional sales tax, you will still find the prices fairly high in Bermuda compared to the other countries like US or even UK. 

 

Bermuda's exports has been quite limited and has been shrinking over the years. In 2009, only $25 million worth of exports has been done. One of the major items of Bermuda export is the fragrance from Easter Lilies that are used in making perfumes. Other items of export includes pharmaceuticals, semitropical produce and light manufactures. 

 

  

 

Other areas of economy in Bermuda 

 

Bermuda Agriculture products 

Agriculture, which was a major industry in 1920s, was given up slowly. Fertile land for cultivation in this already tiny little island was becoming rare to get. However, agriculture does exist in Bermuda in a small form and includes mainly bananas, vegetables, citrus, flowers, dairy products and honey. About 20% of the land area is arable. 

 

Bermuda GDP 

Know about the Gross Domestic Product (GDP) of Bermuda, the sectors that contributed to the economy, the major economic trends and more: Bermuda GDP 

 

Immigrants to Bermuda 

Over the years, many people from different countries have migrated to Bermuda to take advantage of best of both the worlds - great economy and fabulous place to stay. As per the 2000 census, 79% of the population are Bermuda born. Here is the breakup for the rest: 

28% U.K. immigrants  

20% from US 

15% Canada,  

12% Caribbean, and  

10% Portugal/Azores 

15% from various other countries 

 

Bermuda Budget 2013 

The OBA Government has announced its budget for the Financial year 2013-14 in February. Here are the highlights of the budget: 2013 Bermuda Budget Summary 

 

Bermuda Budget 2011 

In February 2011, Premier Paula Cox announced the 2011 financial budget of Bermuda. Here is a snapshot with the salient points: 2011 Bermuda Budget  

 

Others 

Annual inflation rate (2012 estimate): 2.7%. 

Export (2012 estimate): $15 Million 

Import (2012 estimate): $950 Million 

Natural resource: Limestone, used mainly for building.

Agriculture

Agriculture in Bermuda

Estimated Agricultural Production 2004-2007 Produce 2004 2005 2006 2007 Vegetables $4,095,000 $4,250,000 $4,547,500 $4,950,000 Fruit $291,000 $381,150 $333,000 $97,628 Flowers $262,500 $175,000 $192,500 $85,000 Honey $138,500 $225,000 $133,000 $68,960 TOTAL $4,787,000 $5,031,150 $5,383,000 $5, 601,588 Vegetable production in 2007 saw a modest gain over the previous year.  Farmers reported a fair to good year thanks in part to mostly favourable weather conditions.  The reprieve from hurricanes and major storms was welcomed by the local growers.  However, the unseasonable warm and humid weather in December 2007 saw many farmers lose 50-60% of their broccoli crop to black rot.   Fruit production was down in comparison to 2006.  Banana production was drastically down over the previous year due to damage sustained to the plantations by Hurricane Florence in 2006.  It’s estimated that banana production was approximately 1/3 of that in 2006.  Avocado production was also minimal due to the lingering effects of Hurricane Florence.  Citrus production fared little better as many backyard growers had little to show for their efforts.  Strawberries, however, had a good year with production continuing up to 3 weeks longer than usual. Flower production was down in 2007 as some growers experienced problems in obtaining new lily bulbs and rooted flower cuttings. Honey production was up with beekeepers reporting an excellent nectar flow in September-October.  This was a welcomed harvest as the early nectar flow in July-August was virtually non-existent.  Summary of Agricultural Workforce 2004 – 2007 Number of Participants 2004    2005 2006 2007 In Vegetable Production (total) 105 114 120 116 Full-time farmers 23 25 25 26 Part-time farmers 28 32 38 33 Full-time labourers 37 38 38 41 Part-time labourers 10 11 9 7 Managerial/Support Staff 7 8 10 9 Number of operations 46 52 55 55 Registered Home Growers 9 17 19 12 Notes - An operation refers to an individual farm or farming business              - Registered home growers are not included in the total

Geography

The Geography of Bermuda is full of diversity. The Bermudian Islands are basically a group of around 140 islands spread over the North Atlantic Ocean. This flourishing British colony is established near the fascinating backdrop of the Carolina coast.

The Islands of Bermuda sprawls over an area of 53.3 square kilometers. With its innumerable rocks and magnificent coastal area, geography of Bermuda offers enough to charm you. 

Geographical Features of Bermuda Islands
Majority of the Islands in the Bermudian territory are uninhabited. The natives and foreign settlers occupy around 20 islets of Bermuda. The remaining Islands are deserted and feature endless natural treasure. The economic activities of this British territory take place mostly within six islands. The island Bermuda is the biggest of all Bermudian islands. Among the other major islands of this group, Saint Davids, Boaz, Saint George's, Somerset and Ireland are worth mentioning. Hamilton, the capital city of the Bermuda islands, also serves as the main port and the chief commercial center. 

Bermudian Geography mostly features volcanic mountains covered with corals. Underwater reefs encircle the Islands of Bermuda. Coral lagoon is another interesting feature of the geography of Bermuda. The average height of the Islands of Bermuda is around 260 feet from the sea surface. 

Formation and Geology of Bermuda
A quick delve into the history reveals that the Bermuda Formation and Geology can be equally fascinating like its amazing scenic beauty, its vibrant cultural heritage and the host of exiting adventure sports that it offers to the tourists. 

Volcanic eruptions along the Mid-Atlantic Ridge almost 100 million years ago led to the formation of Bermuda. Basically an archipelago, Bermuda consists of approximately 150 small islands and islets. Some of the main islands of Bermuda, also known as Great Bermuda and main island; Somerset; Ireland; Saint George's; Saint Davids; and Boaz.

Some facts about the Bermuda Formation and Geology:

• Bermuda Islands consist of an approximate area of 53 sq KM. Narrows channels running in between the constituent islands of Bermuda serve as dividers, separating the individual islands from one another.
• Volcanic rocks form the base of this archipelago. Erosion has played an important role in Bermuda Formation and Geology. The adjoining sea waves and winds have carved out the rock structure which is now laden with layers of limestone.
• Reefs fortify the constituent islands of Bermuda from north, west and south and these are mostly underwater.
• Limestone caves of Bermuda are yet another distinctive feature of this island country. Several limestone caves varying in sizes have been noted in Bermuda. These caves are adorned by several erosional features like stalactites and stalagmites, which make underwater diving exploration in Bermuda particularly exciting.
• Bermuda Formation and Geology have contributed severally in making Bermuda a vacationers' paradise.

Weather in Bermuda
The diversity of Bermuda gets reflected in its mild climatic conditions. The temperature of the islands varies between 17 degree Celsius and 26 degree Celsius. The ocean wind results in humid weather.

Lying in the course of the warm Gulf Stream, bathed by the North Atlantic water and endowed by pleasant temperate conditions, Bermuda weather is as enchanting as the place itself. Sub-tropical climatic condition is the prime reason that make Bermuda weather enthralling to the tourists. 

Temperature Range
With the average annual temperature set at 76°F, summers range from warm to hot. Winters on the other hand are primarily mild and intermittently warm with an average annual low of 68°F. The Bermuda weather if further blessed by moderate climatic conditions without any extremes. 

Rains in Bermuda
Although, Bermuda does not have any particular rainy season; rainfall is plentiful and evenly distributed throughout the year. Incessant drizzles are rather uncharacteristic of the typical Bermuda weather. Short heavy showers accurately define the Bermuda weather trait. 

Humidity Factor
The climate of Bermuda is also quite humid. As this humidity intensifies it results into severe thunderstorms. These sporadic rainstorms give Bermuda its share of fresh water supply and are eagerly looked forward to by the local people. 

Hurricanes in Bermuda
By virtue of Bermuda's location, far north of the Caribbean, Hurricanes occur infrequently. Hurricanes lash the shores of Bermuda once every seven years. These violent tropical storms, however, weaken considerably by the time they reach the latitude where Bermuda is located. Moreover, Bermuda is also well guarded by its reefs.

Thronged by tourists from various part of the Globe, it is primarily these attributes of Bermuda weather that make it a sought after holiday destination.

Ecology of Bermuda
The Bermuda terrestrial ecology is thriving with versatility courtesy colorful blooms, blue waters and abundant vegetation, which made it an intense horticulture destination, immigration ground for birds and home of huge variety of marine life. Bermuda terrestrial ecology that primarily consisted of Bermuda flora and fauna is vivid and enthralling with life. Although Bermuda lacks native land mammals but it is blessed with fertile soil, adequate rainfall and fantastic climate, which provides an excellent ground for the growth of diverse flora and fauna in Bermuda. Bermuda terrestrial ecology meant a lot of migrations of lots of birds from distant land.

Flora in Bermuda
Bermuda has a subtropical climate hence it has a varied flora. There are several flowers like Bougainvillea, Hibiscus, Oleander, Poinsettia, Bermudiana. The main trees of Bermuda are Bermudian ceder, Juniperus Bermudian, Olive wood bark,Bermuda palmetto, Loquat, Royal poinciana,Screw pine, Paw-paw, Cassava.

Fauna of Bermuda
The Terrestrial fauna includes the native non marine land animal that is endemic Bermuda Rock lizard, whistling tree frogs, Road toads, Birds like white eyed vireo, kiskadee and Ca how. The Marine fauna is beautiful. As Bermuda has northernmost coral reefs found in Atlantic hence it is bustling with marine activities. Angelfish, Trigger fish, Clown wrasse, Portuguese man-of-war are some of the major fishes of marine ecosystem. 

The Bermudian flora and fauna is photogenic, colorful and is thriving with life. 

History

Bermuda takes its name from the Spanish sea captain Juan de Bermúdez, who sighted the uninhabited islands either in 1503 or 1515. The Spanish did not claim the islands, but they soon became an important navigational landmark for galleons crossing the Atlantic between Spain and the New World. Since Bermuda is surrounded by dangerous reefs, nautical misadventures cast the Spanish ashore on several occasions and littered the sea bed with enough booty for some people to consider scuba diving in Bermuda more than a recreational sport.

In 1609 Admiral Sir George Somers was en route from England with supplies for the recent British settlement at Jamestown, Virginia, when his ship, Sea Venture, was wrecked off Bermuda. Finding it a rather pleasant place to be washed up, the admiral built replacement ships of fine Bermuda cedar, sailed off and left a couple of men behind to establish a British claim to the islands. The experience of these temporary British castaways is thought to have inspired Shakespeare to write The Tempest. Somers returned to Bermuda later that same year but died soon after arrival. The British renamed Bermuda the Somers Islands in honor of the admiral, but the name failed to stick.

The Virginia Company took a keen interest in the islands after hearing of their suitability for colonisation, particularly in light of Jamestown's hostile relations with the local Indians. Only three years after Somers' misadventure, the company organized 60 settlers to establish a permanent colony on the islands. Unfortunately the islands were not as abundant as was first thought. The shallow topsoil limited agriculture and the lack of water prevented commercial crops like sugar cane from being introduced. The settlers soon became reliant on food imports from the American colonies, which they paid for by supplying sea salt secured from the Turks Islands.

For many years the Virginia Company, and then the Bermuda Company, ran the islands like a fiefdom. This wearied the settlers so much they sued to have the company's charter rescinded, and in 1684 Bermuda became a British crown colony. Slaves were first introduced in 1616, most of them brought forcibly from Africa though some were American Indians. They lived in degrading conditions but were generally employed as domestic servants or tradespeople rather than agricultural laborers. The skills they learnt were to stand them in good stead when slavery was abolished in 1834. At the time of emancipation 5000 of the 9000 people residing in Bermuda were registered on the census as black or 'coloured.'

Despite Bermuda's reliance on trade with the American colonies, political bonds with Britain proved stronger during the American War of Independence when Bermuda remained loyal to the crown. During the War of 1812, the British Navy used Bermuda as a base from which to ransack Washington, DC. The Americans responded by confiscating the unprotected cargo of Bermuda's merchant fleet, devastating the local economy. The US Civil War proved more lucrative for the island. When the north blockaded southern ports, cotton traders employed small, fast vessels to outrun northern naval gunboats. These vessels were not capable of an Atlantic crossing, and Bermuda blossomed as a trans-shipment center on the blockade runners' route to England. Good at picking losers, the island's shortlived prosperity collapsed with the defeat of the South.

Princess Louise, daughter of Queen Victoria, is credited with putting Bermuda on the tourist map after paying an extended visit to the islands in 1883. The princess was the wife of the Governor General of Canada and was keen to escape the long Canadian winter. By the turn of the century, Bermuda was well on the way to becoming a fashionable winter destination for 'snow birds,' who flocked aboard steamers crossing regularly from New York to Hamilton.

Bermuda's strategic location in the Atlantic secured it a role in Allied military and intelligence operations in WWII. However, its proximity to the US mainland made it inevitable that the US take primary responsibility for developing bases on the island. Much to the locals' consternation, the British subsequently signed a 99-year lease handing over substantial portions of Bermuda's territory to the US military. The US constructed an air base on St David's Island, where the international airport is now located.

In the wake of WWII, women were given the right to vote and, after boycotts, some of the franchise qualifications restricting the power of black voters were removed. In 1963 the Progressive Labour Party was introduced, in part to represent the interests of nonwhite Bermudians in the face of a government almost totally made up of white landowners. The rest of the parliamentarians united to form the United Bermuda Party. The two parties worked together to produce the 1968 constitution which provided for full internal self government, while leaving security, defense and diplomatic affairs to the crown.

Although Bermuda had long prided itself on the relative harmony of its race relations, riots and race antagonism in the 1970s resulted in the removal of all de facto discrimination and the beginning of talks on independence from Britain.

In the decades that have followed since, the independence movement became the dominant political issue, but a referendum in 1995 failed by a two-thirds majority as Bermudians became apprehensive about the political and economic cost of independence. Two weeks later they did, at least, regain control of 10% of the island's land mass when post-Cold War military cutbacks resulted in the closure of the US base on the island. In 1998 the PLP's Jennifer Smith was selected as premier, replacing the UBP's Pamela Gordon, who was Bermuda's first female premier and the youngest person ever to hold the office..

Bermuda - Introduction

(The Bermuda Triangle, also known as the Devil's Triangle, is an undefined region in the western part of the North Atlantic Ocean, where a number of aircraft and ships are said to have disappeared under mysterious circumstances)

Bermuda , in full The Islands of Bermuda, also referred to as the Bermudas or the Somers Isles, is a British Overseas Territory in the North Atlantic Ocean, located off the southeast coast of the United States. Its nearest landmass is Cape Hatteras, North Carolina, about 1,030 kilometres (640 mi) to the west-northwest. It is about 1,239 kilometres (770 mi) south of Cape Sable Island,Nova Scotia, and 1,770 kilometres (1,100 mi) northeast ofMiami. Its capital city is Hamilton.

The first known European to discover Bermuda was Spanishsea captain Juan de Bermúdez in 1503, after whom the islands are named. He claimed the apparently uninhabited islands for the Spanish Empire. Although he paid two visits to the archipelago, Bermúdez never landed on the islands, because he did not want to risk crossing over the dangerous reefsurrounding them. Subsequent Spanish or other European parties are believed to have released pigs there, which had become feral and abundant on the island by the time European settlement began. In 1609, the English Virginia Company, which had established Virginia and Jamestown on the North American continent two years earlier, established a settlement. It was founded in the aftermath of a hurricane, when the crew of the sinking Sea Venture steered the ship onto the reef so they could get ashore.

The island was administered as an extension of Virginia by the Company until 1614, when its successor, the Somers Isles Company, took over and managed it until 1684. At that time, the company's charter was revoked, and the English Crowntook over administration. The islands became a British colony following the 1707 unification of the parliaments of Scotland and England, which created the Kingdom of Great Britain. After 1949, when Newfoundland became part of Canada, Bermuda automatically was ranked as the oldest remaining British Overseas Territory. Since the return of Hong Kong to China in 1997, it is the most populous Territory. Its first capital, St. George's, was established in 1612 and is the oldest continuously inhabited English town in the New World.

Bermuda's economy is based on offshore insurance andreinsurance, and tourism; the two largest economic sectors. Bermuda had one of the world's highest GDP per capita for most of the 20th century and several years beyond. Recently, its economic status has been affected by the global recession. It has a subtropicalclimate. Bermuda is the northernmost point of the so-calledBermuda Triangle, a region of sea in which, according tolegend, a number of aircraft and surface vessels have disappeared under supposedly unexplained or mysterious circumstances. The island is in the hurricane belt and prone to severe weather.