not, hard work is not the only factor in success. Very often hard work has to be coupled with good sense and good judgment.

There was certainly a great deal of hard work by Bermudians of every description involved in Bermuda's success as a tourist resort and as an international company centre. But there was a lot more involved. The first factor was probably Bermuda's God given desirability as a resort which includes its incredible beauty, the pink beaches, a decent if not perfect climate, and its proximity to the highly developed East Coast of the United States.

But it took good judgment, good sense and hard work to build on and to preserve the God given attributes and to turn Bermuda into the best of the islands, best in terms of tourism and best in terms of attractiveness to international business. Tiny Bermuda is not a leader in tourism and international company business by accident. Over the years Bermuda and its leaders have gotten it right. Bermuda's leaders have led their country to a high standard of living, political stability, security, attractiveness and success like few others. Both visitors and international businesses are attracted to Bermuda for many of the same reasons.

High on the list of Bermuda's assets has to be political and economic stability. People do not choose Bermuda by accident but rather choose because of what it offers. Visitors are driven away by the slightest signs of "trouble'' and business likes its surroundings to be both comfortable and untroubled. Both visitors and businesses can leave at any time Bermuda does not meet their expectations.

One Bermudian likes to say that Prime Minister Sir Lynden Pindling of the Bahamas was Bermuda's best salesman. When he came to power in the Bahamas Sir Lynden made life uncertain for overseas companies and, as a result, many of them left the Bahamas, which was physically more convenient, and moved to Bermuda.

It does not take a great deal to make companies or visitors unhappy and these days they both have choices other than Bermuda. Businessmen are known to be conservative and not too keen on change. Visitors generally like the ambiance of Bermuda the way it is, they like the "English'' atmosphere of Bermuda because it is different from what they get at home and Americans are notorious Anglophiles. Visitors also like the manifestations of Bermuda's success, the well kept houses and gardens and the absence of poverty.

Any good business knows how to keep its customers happy. That is the way a business succeeds. Bermuda's standard of living, which ranks among the highest in the world, comes about in very many ways because Bermuda is a business which has been very well run.