Dutch Caribbean economies too dependent on tourism

Source: familyfarmsgroup.com

WILLEMSTAD – Curaçao, Sint Maarten and Aruba have to focus on more than just tourism. The economies of these three countries in the Caribbean part of the Kingdom remain vulnerable, because there are not enough other sources of income.

This is according to special teams in charge of financial monitoring of the islands. These committees presented their findings on the year 2015 last Wednesday.

The three islands’ growth last year was modest: between 0.1 and 0.5 percent. For comparison: in the Netherlands there was a growth of 2 percent.

For Aruba and St. Maarten, this means a clear drag on the economy. Curaçao just ended a period of economic contraction. All three countries have made progress in sorting out their home finances, but to improve financial management remains a major challenge, says the members of the committees.

The Financial Supervision for the three special municipalities (public bodies) Bonaire, Sint Eustatius and Saba is positive about economic developments there. There was also an end to the period of sharp price increases.

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