WILLEMSTAD - Recent figures indicate that Curaçao's tourism industry is set to generate a staggering 700 million guilders in revenue for 2023, solidifying its crucial role in bolstering the island's economy. This year has witnessed a remarkable surge in earnings, signifying a robust post-pandemic recovery.
Tourism not only brings substantial income and employment opportunities but also contributes to the government's tax revenue. These funds can then be allocated to vital sectors like education and healthcare. While tourists primarily allocate their expenditures to accommodation, restaurants, and taxis, shopping activities seem to have received comparatively less financial attention.
Zulaika Mook, the director of economic development at the ministry, emphasizes the ministry's responsibility to assess the economic impact of tourism and expenditure patterns. A significant portion of these expenses encompasses taxes, which consequently alleviates the government's financial burden. Taxes are levied on room occupancy, consumption within the sector, as well as attractions and souvenirs.
Mook affirms, "Tourism plays a pivotal role in the overall economy, accounting for eleven percent of the gross domestic product (GDP), which represents the collective earnings of all individuals in Curaçao within a year. With the ongoing economic recovery in 2022, the tourism sector has already contributed 35 percent to the GDP for the entire year."
Industry stakeholders' responses for 2023 indicate that the sector is poised to surpass all expectations, delivering exceptional year-round results.