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Survey Overview
Sample/Methodology
■ Research.bm utilised Computer Assisted Telephone Interviewing (CATI) to interview a representative sample of 400 Bermuda residents aged 18+. The survey was conducted in October 2009 and lasted approximately 12 minutes.
Weighting
■ The total sample was weighted to be representative of Bermuda’s population on the following factors: gender, age, education and nationality.
Margin of Error
■ The margin of error for the study is +/- 5% at the 95% confidence level.
Analysis Notes
■ Some chart percentages may add to more than 100% due to multiple mentions (i.e., questions that allow respondents to select more than one response).
■ The bases shown on each chart are not weighted.
■ The results are directly compared to those obtained in March or May 2009.
3
Definitions Of International Business■ Compared to the March results, there was a 6 point increase in the percentage of residents who offered a
definition of International Business (85% vs. 79%).
■ Younger residents were less likely to give a definition of International Business.
Total(400)
Male(115)
Female(285)
18-34(105)
35-54(151)
55+(141)
85%90%
81%76%
89% 87%
15%10%
19%24%
11% 13%
How would you define International Business?
Gave a definition
Don’t Know
79%
21%
March 2009
Results
4
Definitions Of International Business (Continued)■ The most popular definitions for International Business are shown in the table below.
How would you define International Business?
A business that is owned by a foreign company but has a presence in Bermuda. 30%
International Business is "Very Important" / "Necessary" for Bermuda. 21%
International Business is a "big part of Bermuda's Economy" / "Creates income/revenue” for Bermuda. 15%
International Business is a global company/companies that do business in multiples countries. 13%
"Insurance"/ "Reinsurance Companies" 9%
An "exempt company" with its headquarters in Bermuda for taxation purposes. 9%
International Business is "International Business“. 2%
International Businesses are "Non-Bermudian organizations“. 1%
5
Drivers of Bermuda’s Economy■ Up by 16 points from the March results, 87% of residents said that International Business is the main
driver of Bermuda’s economy followed by Tourism (8%).
What is the most important driver of Bermuda’s economy?
International Business
Tourism
Banking
Other
Don’t Know
71%
4%
March 2009
Results
16%
87% 92%83% 85%
92%
81%
8% 5%
11%11%
6%
8%
2% 3%2%
2% 1%
5%
Total(400)
Male(115)
Female(285)
18-34(105)
35-54(151)
55+(141)
6
Sustainability of Tourism■ Consistent with the March results, 90% of residents are concerned about the sustainability of the Tourism
industry over the next 10 years.
■ Up by 9 points, 61% of residents are very concerned about the sustainability of Tourism.
4% 3% 3% 6%
4%3%
29%27%
32%
40%
27% 21%
61% 65%58%
46%
66% 70%
6% 4%6%
Please indicate whether you are Very Concerned, Somewhat Concerned, Neither Concerned or Unconcerned, Somewhat Unconcerned, or Not At All Concerned for the Tourism industry’s sustainability over the next 10 years.
Not at all Concerned
Somewhat Concerned
Don’t Know
Somewhat Unconcerned
Very Concerned
Neither Concerned or Unconcerned
41%
52%
March 2009
Results
Total(400)
Male(115)
Female(285)
18-34(105)
35-54(151)
55+(141)
7
Sustainability of International Business■ Consistent with the March results, 84% of residents said that they are concerned about the sustainability
of International Business over the next 10 years.
Please indicate whether you are Very Concerned, Somewhat Concerned, Neither Concerned or Unconcerned, Somewhat Unconcerned, or Not At All Concerned for the International Business industry’s sustainability over the next 10 years.
5% 5% 6% 7% 4% 5%
6%5% 4%
4% 3%5%
5%
3% 2%
33% 35% 31%
35%
34%31%
51% 52% 50%
42%
54% 57%
10%6%6%
Not at all Concerned
Somewhat Concerned
Don’t Know
Somewhat Unconcerned
Very Concerned
Neither Concerned or Unconcerned
36%
49%
March 2009
Results
Total(400)
Male(115)
Female(285)
18-34(105)
35-54(151)
55+(141)
8
Sustainability of Banking■ Down by 6 points from the March results, 58% of residents are concerned about the sustainability of the
Banking industry over the next 10 years.
Please indicate whether you are Very Concerned, Somewhat Concerned, Neither Concerned or Unconcerned, Somewhat Unconcerned, or Not At All Concerned for the Banking industry’s sustainability over the next 10 years.
19% 21%16%
22%17% 18%
11%11%
11%
10%
11% 12%
11%12%
10%
15%
7%
30%28%
32%
28%
34%
26%
28% 25% 30%25%
30% 27%
15%
Not at all Concerned
Somewhat Concerned
Don’t Know
Somewhat Unconcerned
Very Concerned
Neither Concerned or Unconcerned
36%
28%
March 2009
Results
Total(400)
Male(115)
Female(285)
18-34(105)
35-54(151)
55+(141)
9
Feelings about International Business■ Compared with the March results there was a 4 point increase in the percentage of residents who felt that
International Business has a positive impact on Bermuda’s local community (92% vs. 87%).
69% 72%66%
60%
72% 74%
23% 21%24%
28%
22% 17%
2% 3% 2%2%
3%2%
2% 3%1%
4%4%
4% 2%6% 7%
3% 3%
Which of the following best reflects your feelings about International Business?
Positive Effect
Somewhat Positive Effect
No Contribution in Some Ways
No Contribution in Most Ways
Don’t Know
None of the Above
22%
65%
March 2009
Results
Total(400)
Male(115)
Female(285)
18-34(105)
35-54(151)
55+(141)
10Why do you say that you feel that way?
■ The most popular reasons given by residents who felt that International Business has a positive or negative effect on Bermuda are shown below.
Feelings about International Business (Continued)
A Positive Impact A Negative Impact
It provides jobs for Bermudians. 40%International Business could do more for Bermudians.
3 mentions
Positively impacts the "economy" and provides "income" or "revenue" to the community. 34% Its sometimes good/ sometimes bad.
2 mentions
It contributes positively to Bermuda (e.g. Provides scholarships for students, rent for locals). 11%
International Businesses do not distribute jobs fairly.
1 mention
It provides support to charities. 7%International Business increases the cost of living in Bermuda (i.e., apartment rental).
1 mention
Bermuda /Bermuda's economy is reliant on International Business. 6%
Gives Bermudians global employment exposure/ training. 2%
11
Employment Opportunities for Bermudians■ Compared to March 2009, there was a 3 point increase in the percentage of residents who agreed that
International Business offers attractive employment opportunities to Bermudians (85% vs. 88%).
4% 5% 4% 4% 6%1%
3% 3% 2% 1%2%
4% 5%3% 4%
5%2%
32%24%
40%
27%
37%
28%
56%63%
49%
63%
48%
60%
6%
International Business offers attractive employment opportunities to Bermudians.
Strongly Disagree
Neither Agree nor Disagree
Don’t Know
Somewhat Disagree
Somewhat Agree
Strongly Agree
34%
51%
March 2009
Results
Total(400)
Male(115)
Female(285)
18-34(105)
35-54(151)
55+(141)
12
Overseas Employment Opportunities for Bermudians■ Down by 4 points from the March 2009 results, 75% of residents agreed that International Business offers
Bermudians the opportunity to work overseas.
International Business gives Bermudian employees the opportunity to work overseas.
5% 4% 5% 8% 5% 2%
5% 5% 4%4%
5% 8%
8%5%
9%10%
45% 48% 42% 38%56%
31%
30% 32%29%
36%
23%
38%
7% 4%10%
5% 7% 10%
11%5%
Strongly Disagree
Neither Agree nor Disagree
Don’t Know
Somewhat Disagree
Somewhat Agree
Strongly Agree
40%
39%
March 2009
Results
Total(400)
Male(115)
Female(285)
18-34(105)
35-54(151)
55+(141)
13
Educational Opportunities for Bermudians■ Down by 4 points from the March 2009 results, 86% of residents agreed that International Business
provides useful educational opportunities for Bermudians.
International Business provides useful educational opportunities for Bermudians.
3% 3% 4% 4% 4% 1%
5% 4% 6% 4% 6% 5%
34% 33%35%
32%37%
30%
52% 57% 48% 54%50%
53%
4% 2%6% 4% 2%
8%
Strongly Disagree
Neither Agree nor Disagree
Don’t Know
Somewhat Disagree
Somewhat Agree
Strongly Agree
38%
52%
March 2009
Results
Total(400)
Male(115)
Female(285)
18-34(105)
35-54(151)
55+(141)
14
Familiarity With Bermuda International Business Association■ Up by 2 points from the last quarter, 22% of residents said that they were familiar with the Bermuda
International Business Association.
10% 10% 9%13%
8%
12% 14%11% 16%
10%14%
25%27%
24% 23%27%
23%
15%15%
16% 15%
18%
11%
36%35%
38% 40%
31%
44%
5%
Familiarity With Bermuda International Business Association (BIBA).
5 – Very Familiar
4
3
2
1 – Not at all Familiar
Don’t know
8%
12%
34%
17%
29%
March 2009
Results
Total(400)
Male(115)
Female(285)
18-34(105)
35-54(151)
55+(141)
15
Impression Of Bermuda International Business Association Advertisements■ Down significantly from the last quarter, 40% of residents had recently seen a Bermuda International
Business Association advertisement.
■ The majority of residents who had seen an ad had a positive impression of it (83%).
22% 23% 21% 20% 21%28%
11%12%
10% 9%13%
8%5%
5%
6% 4%2%
60% 57%61% 64%
58% 57%
7%4%2%
1%
If you have recently seen or heard BIBA advertisements in the media, what type of impression did the advertisements give you?
Positive
Somewhat positive
Neither positive or negative
Negative
I have not seen BIBA Ads recently
Somewhat negative
Don’t know
22%
38%
22%
March 2009
Results
Total(400)
Male(115)
Female(285)
18-34(105)
35-54(151)
55+(141)
5%
16
Types Of Services Offered By Bermuda International Business Association■ Thirty-two percent of residents gave their opinion about the types of services that BIBA offers, a 14 point
decrease over the March results.
32%36%
29%
19%
38% 38%
33%
35%
31%
34%
30%37%
35%29%
40%46%
32%26%
To your knowledge what types of services does Bermuda International Business Association offer?
Gave their opinion about the services
offered by BIBA
I don’t know anything about BIBA
I have only heard the name
Don’t Know
46%
24%
15%
March 2009
Results
Total(400)
Male(115)
Female(285)
18-34(105)
35-54(151)
55+(141)
17
Types Of Services Offered By BIBA (Continued)■ The most common responses for the types of services that the Bermuda International Business
Association offers are shown in the table below.
To your knowledge what types of services does BIBA offer?
Offers "networking", "job placements" and "educational opportunities" 48%
Promotes International Business in Bermuda 35%
Deals with matters relating to Insurance and Finance industries 7%
Provides information to Businesses in Bermuda 6%
Represents International Businesses (by acting as their voice to the Government and the local community) 4%
18
International Businesses Leaving Bermuda■ Forty-nine percent of residents agreed that International Businesses are leaving Bermuda (a 7 point
increase from the May 2009 results).
■ Twenty-nine percent of residents disagreed with this statement.
12% 11% 13%8% 11%
17% 21%13% 25%
34%
15%12%
17%
12%
13%
21%
5% 4% 5%1%
6% 7%
16%
6%18%
17%
14%
27%
21%15%18%
38%
27%
31%37%
34%
Strongly Disagree
Neither Agree or Disagree
Disagree
Please tell me how much you agree with the following statement: International Businesses are leaving Bermuda.
Agree
Strongly Agree
Don’t Know
23%
19%
17%
16%
May 2009 Results
Total(400)
Male(115)
Female(285)
18-34(105)
35-54(151)
55+(141)
19
Reasons Why International Businesses Are Leaving Bermuda
■ The most frequent mentions for why residents felt that international businesses are leaving Bermuda are shown in the table below.
Why do you think that International Businesses are/ are not leaving Bermuda? [open-ended]
Governments attitude toward international businesses/ guest workers/ political instability. 32%
The downturn of the economy and recession - businesses are downsizing. 22%
Competition from other jurisdictions which are perceived to be more stable, less expensive and have more relaxed policies. 13%
Information through various media such as the newspaper, local news, word of mouth and personal observation. 13%
Pressure from the US Government to return 'home' (e.g., "President Obama", "Tax threats") 10%
Immigration policies /attitude toward guest workers /6 year work permit rule 9%
20
■ Forty-two percent of residents feel that Government policies promote International Business in Bermuda (a 13 point decline from the May results.
■ Identical to May, 17% feel that Government policies discourage International Business in Bermuda.
42%
53%
33%
47%41%
17%
17%
18%
10%
15%
40%
18% 23%
24%
21%
27%19%
27% 23%
16%10%
23% 24%
13%
Govt. policies promote International Business
Govt. policies discourage International Business
Govt. policies neither promote or discourage IB
Don't Know/Refused
Which of the following best reflects your opinion about Government policies toward International Business (IB)?
Opinions on Government Policy Toward International Business
17%
20%
55%
May 2009 Results
8%
Total(400)
Male(115)
Female(285)
18-34(105)
35-54(151)
55+(141)
21
■ The reasons given by residents who feel that Government Policies promote or discourage International Business are listed below.
Opinions on Government Policy Toward International Business
Why do you think that Government Policies promote / discourage International Business.
Government Policies Promote IB
Because Govt. realizes that Bermuda's economy relies on International Business. 35%
Government policies are in place to maintain relationships with businesses/ jurisdictions to maintain and attract businesses to Bermuda. 33%
Government relaxes their policies for international businesses (e.g., work permit rules, tries to accommodate individual company needs). 10%
Because of the opportunities it provides to Bermudians. 9%
Because there are so many International Businesses in Bermuda. 6%
Government does everything it can to promote International Business. 4%
Government provides low /limited taxes for International Businesses. 3%
Government Policies Discourage IB
Inflexible Government /Immigration policies (e.g. 6 year work permit rule, Work force equity bill) 57%
Government places too many restrictions / imposes to many fees on International Businesses. 20%
Government is not doing enough to support International Businesses. 16%
Government sometimes has a negative attitude toward International Businesses (e.g., racist, disrespectful) 7%
22
■ Up by 5 points from the May results, 93% of residents said that the impact of International Businesses leaving Bermuda would be negative.
78% 79% 78% 76%80%
15% 16% 16% 19%
1% 2% 1%1%
77%
12%16%
1%
2%2%1%2%
2%2%3%2%
A very negative impact
A somewhat negative impact
No impact
A somewhat positive impact
A very positive impact
Impact of International Businesses Leaving Bermuda
If International Businesses were to leave Bermuda, what impact if any would this have on the local community?
Don’t know
5%
3%
66%
22%
May 2009 Results
Total(400)
Male(115)
Female(285)
18-34(105)
35-54(151)
55+(141)
23
■ The majority of residents commented on the negative impact International Businesses leaving Bermuda would have on the local community.
Impact of International Businesses Leaving Bermuda
Why would you say that it would have a positive or negative impact?
It would results in a loss of jobs. 45%
It would result in a loss of income and revenue for Bermuda /Bermuda's economy (e.g. Economy would crash, poverty, Tourism cannot sustain us) 38%
Bermuda relies on International Business and it contributes to the community (i.e., scholarships, charitable donations etc) 9%
Local businesses would lose business from this segment. 5%
It would effect the cost of living, rents would go down. 2%
It would lead to an increase in crime. 2%