Weak economic growth continues to challenge the tourism-dependent countries of the Caribbean. Commodity exporters are also facing subdued growth given the decline in international prices. Fiscal consolidation remains the major theme for the Caribbean region.
Particular countries go to great lengths to establish proprietary rights to certain spirits. Americans quite properly lay claim to Bourbon; the Scotch and Irish to Whisky, the French to Champagne and Cognac, the Japanese to Sake, the Russians to Vodka, and “Genever” is quite definitely Dutch. Who, on the other hand, can claim rum?
The Guide is intended to serve as an initial resource for the Caribbean, in particular to inform the tourism industry, local governments, environmental groups and residents about Sargassum Seaweed, its impact and uses, and best practice mitigation and management measures which are being undertaken.
This report gives an overview of the progress made in relation to the Millennium Development Goals and will serve as a starting point for a more analytical reflection in relation to what must be achieved by 2030.
The basic research questions in this report are: how does the private sector expect the Curaçao economy to develop in the short and medium term? And how will businesses behave, how will the private sector of Curaçao develop and proceed from now, the next couple of years till 2019?
In this 2015 mid-year report, we analyze the major sources of economic influence to the Caribbean region; namely tourism, real estate, development and investment. Data continues to reflect improvement in tourism, gradual improvement in some real estate markets and an increase in foreign direct investment inflows; though conventional economic indicators such as declining oil prices, sovereign debt ratios and unemployment numbers are resulting in continued stagnation of the larger diverse economies.
The year 2014 brought several developments that affected the Caribbean, including a continued acceleration of the U.S. economy, a marked slowdown of some major emerging markets, especially Brazil but also China, tensions in Russia over Ukraine as well as ongoing and increased tensions in the Middle East.
Foreign direct investment (FDI) in Latin America and the Caribbean fell by 16% in 2014 to US$ 158.803 billion. Outflows of FDI from the region were also down, by 8%. Both these trends were driven by the decline in prices of export commodities and the economic slowdown in the region. Nevertheless, FDI remains very important for the economies in the region, especially for smaller Caribbean economies.
The biggest pension policy challenge faced by most countries in Latin America and the Caribbean (LAC) today is low coverage of formal pension systems, both in terms of the proportion of workers participating in pension schemes and the proportion of the elderly receiving some kind of pension income.
In 2010 the Dutch part of the Caribbean island of St. Maarten (see Chapter IV, Country Profile) became an autonomous country within the Kingdom of the Netherlands. This major transition meant drastic changes in the country’s institutions, which are still in progress. Being a small-scale (island) society with associated challenges, St. Maarten is now facing new opportunities in its democratic objectives.