MEDIA RELEASE: August 2022
Unprecedented recent global events have residents uncertain about the future.
BERMUDA: Given the global turmoil that has occurred within the past year, uncertainty about the future remains high among residents of Bermuda. In addition to overall financial concerns (presented in our recent press release), this quarter, residents were also asked about the level of concern for current issues such as the war in Ukraine, inflation and ongoing supply chain issues. Results show that almost all residents are concerned with the impact of inflation, including the rising cost of living (97%), supply chain issues (90%), and the potential impact of Russia’s invasion of Ukraine on Bermuda’s economy (81%). However, the level of concern varies across these issues, whereby a large majority is extremely concerned with the impact of inflation (81%), compared to only one-half feeling extremely concerned with supply chain issues (51%), and just one third extremely concerned about Russia’s invasion of Ukraine on the Island’s economy (33%).
Across demographics, non-Bermudians are more likely to be concerned about supply chain issues, whereas higher-income earners are more likely to be unconcerned in this regard. Also, middle-income earners, and those 34 and younger are more likely to be extremely concerned about the impact of inflation, including the rising cost of living. Furthermore, higher-income earners are less likely to be concerned about Russian’s invasion of Ukraine on Bermuda’s economy.
These results reflect opinions of 382 adult Bermuda residents (18 years of age or older), conducted from June 16 – 27, 2022. The questions are not commissioned by a third party and were collected independently by Narrative Research Bermuda. The results presented in this document were collected from Narrative Research Bermuda’s proprietary online panel of adult residents, Bermuda Voice. Per industry standards, a margin of error cannot be ascribed to online survey results.
For more information, please contact:
Graham Redford, Managing Partner, Narrative Research Bermuda, graham@narrativeresearch.bm Margaret Chapman, COO and Partner, Narrative Research Bermuda, mchapman@narrativeresearch.bm