Editing Economy of Bermuda (section)

===After World War II===
Bermuda has had steady economic prosperity since the end of [[World War II]], although the island has experienced recessions, including during the early 1990s, when the contraction of the economy led to a population reduction of 2,000 people (with work permits of many long-term residents not being renewed), and a mild recession in 2001–02, both paralleling recessions in the United States. Its economy is based primarily upon international business (especially [[Reinsurance|re-insurance]], for which it is now a world centre) and tourism, with those two sectors accounting for more than 70% of the total [[balance of payments]] current account [[foreign exchange reserves|foreign exchange]] receipts. However, the role of international business in the economy is expanding, whereas that of tourism is contracting.