Solid Insurance And Tourism Growth To Support Bermuda's Rebound

 

• Bermuda is expected to recover from a minor recession in 2018, powered by solid growth in the insurance and tourism industries.
• The forecast is that Bermuda will experience real GDP growth of 1.1% y-o-y in 2019 and 1.0% in 2020, after economic activity contracted by less than 0.1% in 2018.
• Risks to the forecast are weighted to the downside, as an uptick in natural disasters could damage profitability in the insurance industry and a slowing global economy could weigh on tourism.

(Source: Fitch)