Bermuda Stock Exchange
Bermuda does not have capital gains tax, but does have other taxes in place, which makes the general myth that Bermuda doesn’t have any taxes, untrue. The economy of Bermuda is reliant on its tourism industry. Tourism fuels employment and income, through hotels, activities and the purchase of souvenirs and clothing. Yearly, approximately 400 000 tourists flock to this idyllic destination, and most of the accommodation options that are available to travelers are owned by locals. International business has also boosted the economy with the travel of businessmen and investments, which are supported by the Bermuda Stock Exchange.
The agricultural and industrial sectors are very small. The availability of mineral rich land that is suitable for crops is scarce. The minimal agricultural products, which are flowers, honey, dairy products, bananas, citrus fruits and bananas, are not enough to sustain the inhabitants and visiting tourists, forcing Bermuda to import almost 80 % of their food
products. The export of commodities comprises mainly of pharmaceutical products. Other imported products include animals, fuel, clothing, construction materials, transport equipment, chemicals and machinery.