Abraham Pizam, Ph.D.; Asli Tasci, Ph.D.; Edwin Torres, Ph.D.; Kevin Murphy, Ph.D.; Murat Kizildag, Ph.D.; Amy Gregory, Ph.D.; Valeriya Shapoval; Jalayer Khalilzadeh; Marissa Orlowski; William Ingram; Amanda Templeton
Curaçao faces hard choices in the upcoming years. High unemployment (especially among the youth), a stagnant economy, and low confidence levels may spiral the island into dangerous socio-economic waters. These domestic challenges are occurring in the midst of the global economic uncertainties that have been triggered by a shaky Chinese economy, a weakened European Union and Euro, and the deepening economic travails and budget problems of Brazil and Venezuela.
Yet, despite these challenges, Curaçao has made great strides in the tourism sector compared to other economic sectors on the island. The tourism sector demonstrated resilience against outside shocks and was able to steadily increase its prominence in Curaçao’s economy. In fact, today, its share of the island’s economy is nearly 18% of the total economy, impacting every economic sector on the island. In addition, the tourism sector has become a substantial source of employment on the island. Nearly 23% of jobs are created and sustained directly or indirectly by the tourism sector.
With its buoyant growth, the tourism sector has mushroomed in the past fifteen years. It is more mature, more desired by tourists, and discloses more promise for the future. Curaçao’s tourism product has changed significantly over time with regard to the product portfolio, market segment mix, and the industry’s overall contribution to the economy. So, fittingly, the current tourism product seems to possess a composition of experiences that are evaluated by tourists as favorable. This favorable evaluation is shared by both actual tourists: those who have visited Curaçao within one year, and those potential tourists who have not visited Curaçao but have visited the Caribbean within the last five years.
Curaçao Tourism Board
Dick Pope Sr. Institute for Tourism Studies
Rosen College of Hospitality Management
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Number of Pages
Croes, Robertico R.; Semrad, Kelly J.; and Rivera, Manuel A., "Curacao: Building on the Power of the Past" (2015). Dick Pope Sr. Institute Publications. 38.