One of Bermuda’s most successful realtors and businessmen has warned of the need to de-shackle Bermudians from institutional restraints that have hindered their development.

Bermuda’s longest serving premier and one-time head of Bermuda’s dominant real estate developer, Sir John Swan, is already in the news this week bringing discussion and controversy to the government plan to make Bermuda a Caricom country.

Bermuda’s only living National Hero, Sir John, who served as Premier of Bermuda from 1982 to 1995, believes such a decision should only be decided by a referendum.

But he also spoke at the Bermuda Chamber of Commerce Real Estate Division annual meeting last week that the division described as an “insightful and thought-provoking gathering”.

Acknowledging his prominence in Bermuda’s business and political circles, the division said: “Sir John Swan delved into various topics, highlighting the need for change and progress within Bermuda.

“With strong conviction, he emphasised the importance of embracing the potential of technological advancements, particularly artificial intelligence, and the profound impact it will have on various sectors, including real estate.

“During his address, he underscored the urgency to reshape Bermuda’s economy, emphasising that the existing structure hinders the growth and development of Bermudians.

“He voiced the importance of proactive industry initiatives, rather than solely relying on the government, to address challenges and create meaningful change within the real estate sector.

The Real Estate Division quoted Sir John as saying: “Bermuda has an upside-down economy that does not support Bermudians at all.

“Bermuda has made money from international business but it has come back to bite us because we did not have the infrastructure necessary to support locals.”

The division’s statement added: “Drawing attention to the limitations imposed on Bermudians by institutional constraints, Sir John Swan advocates for an empowered mindset.

“His rallying call encouraged attendees to move away from fear-driven decision-making and instead embrace a love for Bermuda, striving to shape a future that aligns with the needs and aspirations of Bermudians.”

He is quoted: “Don’t be governed by fear, be governed by your love for Bermuda.”

In response to questions of what Bermudians can do to navigate through Bermuda’s challenges, Sir John advised: Bermudians should use willpower to take decisive action; avoid being held back by fear; and, maintain a positive vision and see the future as a promise to oneself.

The former premier already caused a storm this week at a press conference, when he warned that the Government’s planned Caricom membership, with free movement of Caricom nationals as of next year, could affect local employee hirings and threaten Bermuda’s important relationships with major trading partners.