Web Definition: Bermuda
Bermuda is a self-governing island Overseas Territory of the United Kingdom, situated in the Atlantic Ocean. It has become one of the worlds most important offshore financial centres. Bermuda is often referred to as a tax haven or corporate haven. -Total - Density In the early 20th century, as modern transportation & communication systems developed, Bermuda became a popular destination for wealthy US, Canadian & British tourists. In addition, the tariff enacted by the United States against its trading partners in 1930 cut off Bermudas once-thriving agricultural export trade--primarily fresh vegetables to the US--spurring the overseas territory to develop its tourist industry, which is second behind international business in terms of economic importance to the island. During World War II, Bermuda became important as a military base because of its location in the Atlantic Ocean.
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