Research is being conducted at the Government Aquarium into the development potential of deep sea fishing. The rocky sea bed makes trawling impracticable and most fish are caught by pots, hand-lines and seines. The Department of Agriculture and Fisheries continues to pay grants equivalent to the customs duties payable on essential equipment to professional fishermen, who submitted information on daily landings, operating expenses and fishing efforts. The aggregate value of fish and lobsters caught during 1972 was $2,300,000. Commercial fishing boats are available for hire. The principal game-fish are marlin, tuna, dolphin, wahoo, bonito, amberjack and barracuda. The value of trade during 1972 was as follows: Total Imports $134,139,087; Recorded Re-exports Local Exports Total Exports Although the visible balance of trade continued adverse, there was substantial and fully compensating revenue in 1971 from invisible items, including the tourist business; repairs to shipping sustaining damage on the neighbouring seas; accommodation, goods and services supplied to the United States bases in Bermuda; considerable investments at generally low rates of interest of United Kingdom capital in Bermudian enterprises; the continued establishment in large numbers in Bermuda of international companies which, in addition to paying a Government fee of $480 each per annum, involved substantial legal, banking and accountants' fees and other expenses locally. The operation of the Ireland Island Freeport also earned revenue for the colony from rent, services, etc., so that the overall balance of trade was favourable. A breakdown of the more important items of imports and exports is given below: The tourist industry in 1972 continued to provide Bermuda's major source of revenue. The trade maintained a satisfactory growth rate: As a result of the dramatic increase in cruise passengers, Government adopted a policy of accommodating a maximum of three ships in Bermuda at one time, with approximately 2,500 passengers being provided with shore facilities. Bermuda is a small island, and its main source of income is from regular visitors who stay in hotels, etc. In order to protect the 100-year-plus industry, Government has agreed that future development must be phased and controlled to ensure an orderly expansion and to preserve those qualities which have attracted so many visitors on first and repeat visits. In 1972 there were an estimated 8,568 beds in recognised accommodation. On August 15, the new Southampton Princess was opened on Bermuda's South Shore, providing the Island with an additional 600 hotel beds. A Hotel (Licensing and Control) Act was passed in 1969. This required all accommodation taking six or more paying guests to be licensed. Standards relating to fire prevention, health, construction and amenities must be met and maintained. The origin of visitors showed a slight decrease from the United States, from 88 per cent in 1971 to 85.8 per cent, in 1972, along with 8.8 per cent from Canada and 3.1 per cent from the U.K. The balance are from Europe and other countries. The length of stay of the average visitor during 1972 was 5-4 nights, compared with 5.7 nights in 1971. The degree of satisfaction of visitors, based on the survey of departing visitors at the airport, remained extremely high. The Department's budget for 1972 was $3,689,757, a slight increase over 1971. Ninety-nine per cent of Bermuda's regular visitors arrive by air. This has been constant for a number of years, for travel by ship now is primarily on "floating hotels". R The main gateways in the U.S.A. are: Baltimore, Boston, Chicago, Detroit, Newark, New York and Philadelphia. British Airways, Eastern Air Lines, Northeast Airlines and Pan American World Airways operate the U.S.A. Bermuda services. British Airways has operated a frequent service between London and Bermuda for a number of years. However, some of the flights terminate in the Caribbean. Qantas operates a once-weekly stop each way at Bermuda on its Australia/ U.K./ Australia route. Air Canada has operated frequent services from Toronto and Montreal for a number of years, and recently inaugurated a weekly flight from Halifax. Most of these terminate in the Caribbean. Responsibility for the promotion of tourism, under the Member of Executive Council for Tourism, rests with the Department of Tourism, which has its head office in Bermuda and branch offices in London, New York, Chicago and Toronto. Bermuda has two ports, Hamilton, the present capital, centrally situated on a deep-water landlocked harbour and including also the former Royal Navy dockyard and basin, situated at the western end of the island in Sandys Parish, and St George, the former capital, also situated on a deep-water landlocked harbour at the east end of the islands and including an oil dock at Murray's Anchorage on the north shore of St George's Parish. The port of Hamilton, in a land-locked harbour, has 1,650 feet of berthing space and 26 feet of water (MILWOST) over most of this length. There are some 42,500 square feet of transit shed floor space. At the eastern end of the Port installations there is an area used as a container port of some 2 acres. There is a good protected anchorage area for all vessels up to 34 feet draught in the Great Sound. St George's has 1,077 feet of berthing space, 30 feet of water (MILWOST) and 22,000 square feet of transit shed floor space. On the north of St George's island is an oil dock operated by Esso Standard Oil, SA, which has a depth of 33 feet of water alongside. The freeport at Ireland Island has two deep water basins, each with a minimum depth of 30 feet. The main wharf is 1,600 feet in length and has a 40-ton gantry crane. The Shell Company of Bermuda, Ltd., operates the former Royal Navy fueling depot and commercial vessels may bunker there. A total of 5,530,022 gross tons of shipping (792 calls) were entered and cleared in Bermuda during 1972. There are two lighthouses in Bermuda: Gibb's Hill Light is 362 feet above sea level in the middle of the islands and St David's Light is 208 feet above sea level at the eastern end of the islands. Bermuda Harbour Radio operates in both UHF and VHF wave bands. It controls shipping in the channels and co-ordinates small craft rescue operations in local waters. The construction of additional container facilities was begun during 1972, and, when completed late in 1973, will provide an additional 700 feet of berthing space. This will double the present area for container operations. The only airfield is at the United States Naval Air Station, which was originally constructed during the last war solely for military purposes. In 1948 this base, known as Kindley Field, was opened to civil aircraft in accordance with the provisions of a treaty agreement between the Governments of the United States of America and the United Kingdom. The base itself is leased to the United States Government for 99 years. Civil aircraft are handled in a sub-leased area at the western end of the airfield which has been extended to accommodate 'Jumbo Jets'. Both military and civil aircraft use the same runways and technical facilities of air traffic control, communications, weather and navigation aids. The airlines serving Bermuda are British Airways, Pan American, Eastern, Delta Airlines, Air Canada and Qantas. There are 132 miles of central and local Government roads, most of which are surfaced; they include 3.55 miles reserved for cyclists and pedestrians. There are also many surfaced 'estate roads' and unsurfaced private roads. Prior to 1946 there was little broadcasting in Bermuda and local listeners relied principally on broadcasts from North America and England. In 1943 the Bermuda Broadcasting Company was formed and in 1946 started commercial broadcasting with the call-sign ZBM on 1,240 kc/s with a power output of 250 watts. In 1953 a second station ZBM-2 was opened and in 1962 power on both stations was increased to 1,000 watts and an FM station, ZBM-FM, was jinaugurated. 1962 also saw the formation of a second commercial broadcasting company, Capital Broadcasting, using the call-sign ZFB, which operates with 1,000 watts power. ZFB inaugurated, in 1971, a second FM station. Both FM stations produce stereophonic transmissions. All stations broadcast approximately 18 hours a day. Bermuda's first commercial television station ZBM-TV began operations in January 1958, and now operates for approximately nine hours daily. In August 1964 the Bermuda Government granted to Atlantic Broadcasting Co. Ltd a licence to establish and operate a second commercial television channel. This station, ZFB-TV, began broadcasting in August 1965 and now operates for approximately nine hours daily. Income tax and estate duty are not levied in Bermuda but legislative approval was given in 1967 for the introduction of a property tax. This tax is similar to the rates levied by local authorities in the United Kingdom. Revenue is mainly derived from customs duties and in the fiscal year 19701971 (The Bermuda Government's fiscal year has recently been changed to run from 1st April to 31st March), these duties amounted to $18,784,872 of the Government's total revenue of $38,231,874. Miscellaneous stamp duties yielded $2,114,420. Company taxes realised $1,275,354, vehicle licences $1,778,426, and omnibus services $1,066,093. The land tax for 1971 produced $1,623,135. In accordance with the provisions of the Exempted Undertakings Tax Protection Act 1966, foreign companies can be granted freedom from liability for present or future taxes computed on profits or income or capital assets, gains and appreciation. Undertakings operating in the Bermuda freeport also obtain customs tariff concessions. A Retail Price Index established in January 1961, was computed quarterly until December 1967, but since that date it has been computed monthly. |