Chamber Releases March 2025 Economic Report
The Bermuda Chamber of Commerce released its March 2025 Economic Report, Heads or Tails – A Coin Has Two Sides,’ which “builds upon the economic insights and discussions raised in the previous year’s Budget Breakfast and Data Deep Dive sessions.”
Speaking on the report’s findings, Chamber President Mr. Marico Thomas remarked: “The economy is more than a singular number—it is a complex interplay of data points, policies, and realities felt by businesses and households alike.
“Last year, we introduced a comprehensive data-driven view of Bermuda’s economy. The insights shared were not abstract theories—they were clear indicators of Bermuda’s trajectory. Now, one year later, we are seeing those data points translate into real-life experiences shaping the business environment, consumer experience, and policy discussions.”
“The Chamber’s March 2025 Economic Report intends to connect statistics to the economic realities our members and residents face daily. Our goal with this report is to provide clarity, drive informed decision-making, and contribute to meaningful discussions on Bermuda’s economic future”, said Mr. Thomas.
The spokesperson said, “Key Topics in this Report include:
- Population Decline
- Aging Workforce Challenges
- Inflation & Cost of Living
- Housing Affordability and Availability
- Data Delays and Economic Blind Spots
- Cost of Living & Inflation
- Tourism and Retail Sales Trends
- GDP Growth Disparity
- Access to Data
- Policy Recommendations
A Call to Action
“The Chamber remains committed to ensuring that our members and the broader business community have access to accurate, timely, and relevant data to navigate an ever-evolving landscape. This report should be seen as more than just an update. It is a confirmation of Bermuda’s economic trajectory and, it is a call to action for businesses, policymakers, and residents to proactively engage for Bermuda’s economic resilience. Last year, we presented the facts. This year, we’re seeing their impact.”
“The future of Bermuda depends on informed action, not reaction.” said Mr. Thomas. “We all have a role to play and it is important for each of us including our mothers, fathers, sisters and brothers at home, to be aware of these insights, the realities they represent and our impact on them.”
The full March 2025 Economic Report follows below [PDF here]:
A very alarming Report that unfortunately will be ignored by the PLP. Hayward will trot out the 2.5% inflation figure and how the economy has expanded 5% year on year, but there is so much data in the Report that needs to be highlighted. For example, the Report estimates Bermuda’s population has fallen to around 54,000. Yet the recent election shows 45,000 registered voters. Impossible if expats, PRC and under 18′s are taken out. GDP is a fictional number that bears no resemblance to realty. GNP should be used, which historically has been around 50% of GDP. So much more.
i am begining to think that the report is a rubber stamp issue which tell me that the Government can not show much effort during their last session .
All we can do is grumble and complain.
Are they installing curtain rods yet.
Just wait till the maintencnce bill come in .they goin to need a resident plumber and electrian and painters and gardeners
and rent collector and their own trash trucks.
by the way where are the East and West bus shelters gouing to be ? and before I forget electric car charging stations?
They are still working on bermudiana beach the “unfinished symphony” may we ask who in the brains behind the project now ?
i see that they installing GE appliances, hope the did not come from Mexico with tariffs
“i am begining to think that the report is a rubber stamp”
I do not see it that way. The Chamber of Commerce report includes data that I believe to be relatively accurate, but it is presented in a way that is careful to not expose the Government of Bermuda as presenting false data to the public.
What does” relatively accurate” mean ? Matamatics is an exact science. !
Using percentages can be a bit troublesome by slicing the pie into one hundred pieces , and a bit vague !
Mathematics is an exact science, I agree. But economics is not.
The Chamber of Commerce report is “its March 2025 Economic Report”.
“it was rather disappointing and unfortunate that several businesses were publicly called into focus by some recent candidates in the General Election around their pricing. Factually incorrect information was spread, and there was a demonstration of what appeared to be a lack of understanding of how economics works, and why the wider cost of goods has changes over recent years”
That is what the Chamber of Commerce said.
I would emphasis “a demonstration of what appeared to be a lack of understanding of how economics works”. I have been saying that for a while.
Actually, a round solid coin has three sides—not to be nitpicky but to be precise. 1. Obverse. 2. Reverse. 3. Edge. Three dimensional. If the title is incorrect, what can we expect of the report’s contents?