Column: Bell On Economy, Growth & More
[Opinion column written by PLP Senator Lauren Hayward Bell]
Bermuda’s economy grew in the first quarter of 2025 Real GDP increased by 1.1%, while overall GDP grew 3.3%, reflecting stronger spending, higher incomes, and smart public investment.
Behind these numbers is a clear story, our economy is recovering, and the benefits are beginning to reach more of our people. From increased household spending to rising wages across key industries, we are committed to making sure that growth is felt across our island, and not just at the top.
Total employee income rose by 6.3% compared to last year. Workers in business services saw the biggest jump [+17.1%], followed by transport and communications [+12.8%] and hospitality [+9.8%]. These gains are helping families keep up with the cost of living and giving workers more breathing room.
At the same time, consumer spending grew by 1.5%, a sign of renewed confidence. People are spending more on both essential goods and services like personal care, food, travel, and transportation.
The PLP Government continues to invest in public services, infrastructure, and wages up 1.5% this quarter to $201.4 million. Capital investment is rising too, with spending on construction and equipment up by over 5%. These are investments in people, jobs, and the services for our people.
In just the first quarter of 2025, 50 new local businesses were registered, bringing the total to 4,082. For an island of our size, that’s a strong indicator of entrepreneurial energy and community resilience. Every new business represents a Bermudian creating jobs, and building our future.
While exports increased by 1.7%, imports rose even more up 5.4%, driven largely by travel and shipping costs. This narrowed our trade surplus to $779.1 million. It’s a reminder that we must continue supporting local production and reduce our reliance on costly imports wherever possible.
The PLP believes economic growth must work for everyone, not just the elite and privileged. We’re making choices that support Bermudian families, grow small businesses, and protect vital services. Our investments reflect our values: fairness, opportunity, and leaving no one behind.
We know there’s more work to do. But these early 2025 results show we are on the right path, creating an economy that doesn’t leave people behind but lifts everyone up.
The PLP will continue working to ensure that this recovery is rooted in fairness. Because progress means little if it doesn’t reach the Bermudians who need it most.
- Lauren Hayward Bell, Constituency #8, Smith’s South
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