By Cathy Stovell Bermuda needs to alert its people, especially the youth, to the way in which money is made on the Island.

Former Premier Sir David Gibbons told Hamilton Rotary that e-commerce, the Internet and skilled trades as areas that locals should be pursuing in order to be financially secure in the Bermuda of tomorrow.

Sir David noted that some classes of business in Bermuda are already feeling the effect of rapid advancements in technology and stressed that Bermudians need to be guided as to the types of professions that will be secure.

Using the e-commerce version of retailing, or e-tailing, to illustrate his point, Sir David showed the emerging industry is hurting local retailers who find themselves faced with yet another form of competitor.

"For the most part,'' he said, "young people are not fully aware of this economic transition and its implications. Neither are they aware of the tremendous opportunities available to skilled people who will be virtually guaranteed bright employment futures with high financial rewards.'' According to Sir David, "e-commerce could become another pillar in our international business industry''.

"It is essential that the story of Bermuda's economic transition be told and that a plan be developed to market the new opportunities being created and the training and skills required to take advantage of them,'' Sir David said.

"This marketing should be addressed to the entire community,'' he added, "but it should be carried aggressively to young Bermudians starting at the primary school level and continuing through to the tertiary level.

"We must teach our young people the importance of acquiring marketable skills and in becoming occupationally competent in areas where there is a demand for these skills.

"They also need to know that they can acquire the education and training they need to compete in the new digital, global economy right here at the Bermuda College.'' Sir David also urged that the Ministry of Education, schools, and the Bermuda College should "increase their liaison with the business community and with the Immigration Department to identify future requirements in information technology, in accounting, in management, in financial services, in the technical sector and in the traditional trades where growth is most likely and where more trained Bermudian employees are needed''.

Failure to give such advice, Sir David said, can result in Bermudians pursuing lines of study which will afford them limited job opportunities locally.

Gibbons calls for technical training for e-commerce "...not because of racial or other prejudice, but simply because they have chosen a field of study where very few jobs exist and where there is little or no growth in employment prospects,'' he said.

"The new economy will require more accountants, systems analysts, programmers and other information technology specialists as well as more trained people in the telecommunications field.'' But Sir David also stressed the important role of skilled tradesmen.

"Additionally we will need as many, if not more, traditional tradesmen such as electricians, air-conditioning and refrigeration mechanics, plumbers and other craftsmen to service the economy,'' he said.

"In the new economy, purely academic education will not be sufficient to enable us to compete successfully.'' Training: Sir David Gibbons