In an average year about 600,000 tourists, largely from the United States and Canada, visit the main islands. The money they spend gives the colony about 40 percent of its total income. International insurance and investment companies also contribute significantly to the economy through their foreign exchange earnings. Vegetables are exported for winter sale, but housing and industrial construction has reduced farm acreage. Pharmaceuticals and extracted scents for perfumes are major exports.
Industry is confined to boat building, ship repairing, and furniture making.
There is a little commercial fishing. Meat, flour, and most other foods are imported. Early in World War II Bermuda became important as an outpost commanding Atlantic sea-lanes. In 1940 United States President Franklin D. Roosevelt gave Great Britain 50 overage destroyers in exchange for advanced bases. One of the special charms of Bermuda before World War II was the absence of motor traffic.