WILLEMSTAD – Curaçao’s construction industry is largely powered by small and micro-enterprises, but many companies are still preparing to invest in their businesses despite rising costs and labor shortages.
According to the latest construction sector survey by the Centrale Bank van Curaçao en Sint Maarten, about 75 percent of construction companies in Curaçao employ fewer than five full-time workers. Only six percent of respondents reported having more than 50 employees.
The findings show that the sector is broad but fragmented. The most common activities are general construction for residential and commercial buildings and finishing work such as painting, woodworking and tiling. Each category was reported by 21 percent of respondents. Infrastructure construction accounted for 16 percent, while installation services such as plumbing, electrical work and air conditioning accounted for 13 percent.
Most companies operate mainly in the local market. Eighty-seven percent of respondents said they focus on Curaçao, while only 13 percent reported providing services abroad or exporting construction-related products. At the same time, 44 percent import products or services, showing that even locally focused firms remain exposed to international cost pressures.
Despite these vulnerabilities, investment expectations are positive. A combined 57 percent of construction companies expect capital investment to increase in 2025 compared to 2024. Only four percent expect a decline.
Most planned investments are modest, reflecting the small scale of many businesses. Forty percent of respondents planning investments expect to spend less than Cg 100,000. However, a smaller group is preparing for larger investments, with nine percent reporting plans of Cg 1 million or more. Some firms indicated investment plans ranging from Cg 4 million to Cg 10 million.
The medium-term outlook is also cautiously positive. For the 2026 to 2030 period, most companies expect to make some form of capital investment, although 31 percent reported no long-term investment plans. Among those planning to invest, several expect annual investments above Cg 100,000.
The survey suggests that Curaçao’s construction sector has confidence in future demand, but its structure also presents risks. Small companies often have fewer financial buffers, less administrative capacity and greater difficulty absorbing sudden increases in material, transport or wage costs.
For policymakers, the findings point to the importance of supporting small contractors through better access to credit, training programs and reduced administrative barriers. For the broader economy, the message is clear: Curaçao’s construction growth is not only driven by large projects, but by many small firms that need the right conditions to expand and survive.