What was once the Island's main industry is now creating a third less wealth than it did a decade ago.

That is the main threat to Bermuda's prosperity and standard of living and all segments must come together and change how the Island makes the visitor's stay worthwhile.

Leaders of the Monitor Group gave a progress report on their findings and plans last night at Anglican Cathedral Hall in the first of four meetings this week.

Monitor's country competitiveness division chief, Michael Fairbanks, said that local hotels get more than 80 percent of their revenue from the room rate or amount charged for each room.

He added: "That means we're selling a very basic product here. In Las Vegas it is completely different. They get more from other services than we do.'' Mr. Fairbanks said the Island would have to change the way it makes policy into a more streamlined process and used the example of the convoluted path that approval for al-fresco dining took.

"While Bermuda was busy defining what a snack was,'' Mr. Fairbanks said, "Jamaica and Barbados were selling our lunches! That typifies the governmental situation.'' He added: "Governments everywhere in the world are not competent to get tourists to their respective countries.'' Mr. Fairbanks explained that a change in how people in the tourism industry are involved in the process would make the Island successful again.

He added: "This is the only country in the world where productivity is a four letter word. But productivity and wealth production are synonymous. Human capital is how you got rich in the past.'' Monitor's Project leader in Bermuda, Joe Babiec said the differing parts of the tourism industry and the local community must work through their differences to become more productive.

"That's what your customers say,'' he added. "They don't see you as having differences. You need a process to change the thinking that goes into the thousands of transactions and contacts with tourists daily.'' Mr. Babiec said Monitor's job was not to produce another report but to help Bermudians to get a "shared vision'' on how to proceed and see that it is entrenched throughout the community.

He added: "We have created little pockets. If they had not wanted to change then we would have said Bermuda does not want to change. These meetings this week are a part of getting our message out of those pockets.'' The presentations continue with a lunchtime meeting today at the Little Theatre Cinema, on Queen Street from 12.15 to 1.45 p.m.

The third and fourth presentations will be held on Thursday with an 8.30 to 10 p.m. at the Little Theatre and a 7.30 to 9 p.m. meeting at the Bermuda Industrial Union headquarters on Union Street.