660 miles off the United States coast, the North Atlantic islands that constitute Bermuda are hardly lost at sea. Officially a British overseas territory, Bermuda has developed into a major hub for the offshore industry. By applying a competitive tax regime, Bermuda has managed to attract international businesses and finance, turning 54 square kilometers of land into one of the world’s most affluent economies. Following a period of recession, Bermuda is – more than ever – open for business.
Published in FOREIGN AFFAIRS September-October 2017.
Distributed also on-site at the 2017 Annual IMF-World Bank Meeting.