WILLEMSTAD – The economy of Curaçao is growing, but according to Raoul Behr, President of the Chamber of Commerce, we cannot talk about the island's economy without first considering the global economic landscape. In his annual speech yesterday, Behr highlighted the potential risks posed by worldwide economic shifts, such as the protectionist policies being adopted by the United States, which could have a significant impact on the island's industries.
Behr pointed out that if the Trump administration continues to implement measures like increasing tariffs, Caribbean economies are likely to feel the repercussions. These policies, he said, may disrupt trade and investment patterns, particularly affecting industries reliant on the international market.
Additionally, Behr discussed the ongoing conflict between Ukraine and Russia, noting that it has broader consequences for global inflation and investment trends. "Despite these challenges, opportunities remain," he said, acknowledging that Curaçao’s economy has shown promising growth. "Tourism is doing well, the real estate market is expanding, and inflation has slightly decreased."
However, Behr emphasized that growth must be properly managed, warning that unchecked development can be a double-edged sword. He cited the real estate market as an example, where housing prices have already reached Nafl. 500,000 for an average home. He raised concerns about what could happen if this trend continues: “What if we end up with a market where only a small group can afford real estate, while young professionals and middle-class families are priced out?”
Behr’s remarks is a call for careful economic planning to ensure that the growth experienced by Curaçao benefits all sectors of society, preventing any segment from being excluded from the island's economic progress.