Vexed Bermoothes

At face value, it’s difficult to see where average Bermudians gain from the megaresorts on the table. Our economy may become very strained during the period of mass construction. Many of the jobs will be filled by new expatriates. Most of the resorts will have onsite restaurants and shopping instead of directing business to Hamilton. The island’s congestion will increase. So who is happy?

Well, whomever controls the cement business in Bermuda is ready for a bonanza. Cheers!

The Government is giddy as Bermuda’s tax base increases incredibly (in particular, the lucrative tax on sale of property to expatriates). The question is whether Government will continue to bloat on the proceeds, or streamline so that the tax burden on Bermudians may be lowered.

The exempt companies are presumably also cheered. Some of those condos will, in fact, be snapped up for executives working for Bermuda’s international business sector – as is the case at Belmont and other recent projects.

And the unions must also be well chuffed, as the new real estate projects may reverse stagnation in their membership. In fact, they may change the face of organised labour in Bermuda. Here’s why:

• There is no way that Bermuda’s small population will be able to staff the large service staff that will be required by these high end resorts. They will require an army of imported labour, who are an obvious pool for union organisation.
• If so, the large numbers will change the balance of Bermudian vs expatriate interests within the union which will need to get over its traditional xenophobia.
• The areas of union involvement may widen as many staff will be living in employer provided housing.
• Moreover, the unions should gear to different worker needs, as many of the new members will be of different culture and languages. There may be more demand for the union to provide services instead of just representation.