The Economy in Aruba

  The Economy in Aruba  

Tourism and offshore banking are the mainstays of the small open Aruban economy. Oil refining and storage ended in 2009. The rapid growth of the tourism sector over the last decade has resulted in a substantial expansion of other activities. Over 1.5 million tourists per year visit Aruba with 75% of those from the U.S.

Construction continues to boom with hotel capacity five times the 1985 level. Tourist arrivals rebounded strongly following a dip after the 11 September 2001 attacks. Aruba is heavily dependent on imports and is making efforts to expand exports to achieve a more desirable trade balance. The government has also made cutting the budget and international development high priorities.

Labor force: 51,610. Most employment is in wholesale and retail trade and repair, followed by hotels and restaurants.

Exports: $189.2 million (2015 est.)

Export commodities: Live animals and animal products, art and collectibles, machinery and electrical equipment, and transport equipment.

Imports: $1.329 billion (2015 est.)

Import commodities: Machinery and electrical equipment, crude oil for refining and re-export, chemicals, and foodstuffs.

Source: CIA The World Factbook  

Get Your Free Aruba Report Now

 

Learn more about Aruba and other countries in our daily postcard e-letter.

Simply enter your email address below and we’ll send you a FREE REPORT - A Taste of Aruba.

This special guide covers real estate, retirement and more in Aruba and is yours free when you sign up for our postcards below. (We value your privacy. You can unsubscribe at any time.)

Get Your Free Report Here


From the Archives of Caribbean

Pros and Cons of Retiring Abroad

Pros and Cons of Retiring Abroad

The decision to retire abroad is not something that should be taken lightly. For many people it’s the best decision they’ve ever made—the adventure of a lifetime. And their only regret is that they didn’t make the move sooner. While other people just can’t adapt to life in a new country. How do you figure into which camp you fall...

Sail the World on Your Social Security

Sail the World on Your Social Security

Daily Postcard
By |
October 1, 2015

The place they now call home is a Cape Cod-style cottage on the hillside of a popular neighborhood. But this is a relatively recent development. For nearly two decades, they’ve been sailing around the world together. Years ago, they discovered that a sailing retirement was a lot easier (and cheaper) than they ever could have realized. And they didn’t need a vast amount of knowledge to get started.

The Economy in Bahamas

The Economy in Bahamas

Best Places
By |
February 28, 2013

The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago’s labor force. Prior to 2006, a steady growth in tourism receipts and a boom Read more...: The Economy in Bahamas