A precious jewel set in the North Atlantic Ocean, a pristine environment less than 2 hours from the East Coast of the USA; there is far more to Bermuda than its beautiful beaches, extraordinary diving, over four hundred years of history and incredible architecture.
A leading location for the world’s global economy, combined with world-class sporting facilities and the destination of choice for the tourism industry…Bermuda prides itself on having the perfect mix of Sport, Business and Tourism!
It is also the first Host Country in the Atlantic region to stage one of the World’s largest corporate multi sport festivals: the Bermuda Corporate Games.
Is there a Business Market in Bermuda?
Bermuda may certainly boast itself to be an idyllic recreational retreat, but for those of you that want to know more about the business opportunities in Bermuda, its major international business presence may perhaps comes as a surprise; as a home to some of the world’s best known and most respected insurance and multi-national companies.
Bermuda’s financial services sector is composed of several allied but quite distinct activities, including commercial insurance and reinsurance, captive insurance, corporate and personal trusts, fund administration, international registers of aircraft and shipping and Islamic finance.
The most visible and important activity is commercial insurance and reinsurance.
Bermuda’s first insurance company was formed in 1903 to provide local on-island coverage. The first international insurer arrived on the island in 1947. Since the mid-1980s, the ongoing formation of insurance companies peaked with waves of new capital in 1993 (following Hurricane Andrew), 2001 (after the tragic events of September 2001) and 2005 (after hurricanes Katrina, Rita and Wilma). Bermuda has emerged as a global insurance centre whose companies boast total assets of over $500 billion and shareholders equity of some $120 billion.
Bermuda’s businesses prosper because the Island offers a stable operating environment, an educated workforce, regulation of the highest international standards, a pro-business mentality and tax neutrality. All supported by top quality support services infrastructure offering legal, accounting and banking facilities.
Bermuda is open for business!
Hosting the Bermuda Corporate Games
The island prides itself on supporting businesses that complement and support the other key pillar of its economy – Tourism. With the Games deriving from small beginnings in San Francisco 25 years ago, the Corporate Games movement has become a global phenomenon, a mass participation, multi-sports festival that has brought together 20,000 companies from 25 countries around the world and over 1 million participants. A perfect fit for an island of sporting enthusiasts, for the first time in the Atlantic Region, Bermuda will host its inaugural Games October 2012.
The Bermuda Corporate Games is celebrated as the ultimate mix of Sport, Business and Tourism, with teams pitting themselves against others in the spirit of friendly competition, providing powerful opportunities for companies to invest in their employees, to build company morale, confidence and loyalty, while promoting their corporate brand. Competition is inclusive and accessible to all, with visiting companies competing against international and local companies, government agencies, sports clubs and other community organizations.
What the Experts Say
A recent McKinsey survey on the ‘Impact of the Economic Downturn on Businesses’ noted the critical importance of non-financial motivators as a method of rewarding staff and boosting business performance. With staff morale at an all time low, at a time when businesses need staff to contribute above and beyond normal expectations, participation in events such as the Corporate Games will result in greater staff retention, through team building, reinforcing employee confidence and enhanced loyalty, resulting in an enhanced positive image of their company.
Behind the Scenes
The Corporate Games have been brought to Bermuda by The Whitfield Group Ltd., the Island’s leading marketing and events agency for the past 25 years, who are the sole licensee for the Atlantic region, an area that includes Bermuda, the east coast of the US and Canada, the Caribbean and Toronto.
Suzie Pewter, President of The Whitfield Group, commented:
“We are delighted to be able to bring the Corporate Games to Bermuda and to be able to partner with the Bermuda Department of Tourism. This is an outstanding opportunity for corporations to invest in their employees, promoting team building, confidence and loyalty, while enhancing their corporate brand and networking with other local and visiting participating organizations”.
The Minister of Bermuda Business Development and Tourism, the Hon. Wayne L. Furbert, JP, MP, whose Ministry is providing critical infrastructure support and the Host Country sponsorship commented:
“The Bermuda Corporate Games are being billed as the quintessential event that will attract local and international business participants, inviting them to engage in several days of fun and competitive sporting activities. We are thrilled and excited about the exposure Bermuda will receive from this event and as such, I am pleased to endorse and support the 2012 Bermuda Corporate Games.”
Minister of Bermuda Youth, Family and Sport, the Hon. Glenn A. Blakeney JP MP added:
“This event promises to be one of the largest corporate events to come to the Island and it is a great opportunity to showcase Bermuda and our fine sports facilities. The Bermuda Corporate Games will add to our efforts to be recognized as a world class sporting venue with excellent infrastructure and uniquely welcoming amenities”.
The Bermuda Corporate Games is for the everyday athlete or ‘Weekend Sport Warrior’ and is open to all ages with no qualifying standards required. The opportunity to build corporate morale, through friendly competition while networking and developing new client contacts, all wrapped around a four day multi sport festival, offers a range of positive outcomes for competing organizations due to the ultimate mix of Sport, Business and Tourism! So take this opportunity to see Bermuda up close, talk to the companies that are thriving on the island or create new relationships with the visiting corporate teams.
Join us for Hand Shakes and High Fives at the Bermuda Corporate Games, October 25 – 28, 2012.
To find out more on how to enter your team email us or telephone +441 232 9999