Cft calls for Curaçao tourism strategy as growth adds pressure

The Board of financial supervision of Curaçao and Sint Maarten, Cft, said on Wednesday 28 October that the Curaçao government should set an integrated vision and clear direction for tourism development. The Cft said tourism growth creates economic opportunities but is placing greater pressure on airport capacity, traffic, housing and coral reefs.

The Cft said unchecked tourism growth could undermine Curaçao’s appeal as a destination. It called for government guidance, cooperation with social partners and targeted investment in infrastructure, waste management, energy and nature conservation.

The Cft said it favours qualitative tourism growth focused on formal employment, labour productivity, local economic value and a broader tax base. It cited International Monetary Fund figures showing employment shifting toward low-wage tourism jobs and informal activities while formal employment declines, affecting tax revenue and social-security funding.

Curaçao estimates substantial budget surpluses between 2027 and 2030, partly because of favourable economic conditions, the Cft said. It also cited exposure to economic shocks and financial risks, an unresolved financial situation at Curaçao Medical Center, and challenges to the financial sustainability of healthcare and social-security funds. The Cft said healthcare and social-security reforms are important because Curaçao’s collective tax burden is already high.