Aruba has already answered a crucial question for the years ahead: our economy lacks a solid foundation to sustain our future because we have become overly dependent on a single industry. For many years, tourism has been presented as Aruba’s main economic engine. Undoubtedly, this industry plays an enormous role in our economic development, and thousands of families depend on it, either directly or indirectly. However, we must recognize that a country relying solely on a single economic pillar is an extremely vulnerable one.
According to Tevreden, the COVID-19 crisis gave us a clear view of this reality. In a matter of just weeks, Aruba’s economy practically ground to a halt. The Government was forced to seek loans, businesses closed their doors, workers lost their jobs, and many families plunged into deep financial uncertainty. That crisis did not create our dependence; it simply exposed how fragile our economic model truly was. And even so, with a new government, we do not hear enough serious discussion regarding economic diversification.
The Minister of Economy speaks of agriculture, but nothing on a scale that would greatly impact our GDP. Tourism is crucial. But tourism alone is NOT enough to carry a modern country with:
A high debt-to-GDP ratio
A rising cost of living
An infrastructure in urgent need of maintenance
Growing social needs
A new generation looking for broader opportunities
Many small countries around the world have understood one important thing: a healthy economy needs more than one leg to stand on.
We are Daydreaming in a Green Light
Aruba holds a unique geographical position in the Caribbean. We are literally at the gateway to South America and close to one of the world’s largest energy reserves, Venezuela. While the world shifts geopolitically and economically, Aruba must stop thinking small about its role in the region. The discussion should not be limited solely to “tourism versus oil,” because that is a false dilemma. The crucial question is: How can Aruba create more economic activity, take a more strategic position, and build greater financial resilience?
The world is changing rapidly. Particularly since January 3rd, we have seen how energy, logistics, trade, and strategic infrastructure are becoming more important by the day. The nations that know how to position themselves intelligently during these transition periods will be the ones that emerge economically stronger. An example of this is Barbados, which is taking concrete actions. While other countries are thinking strategically about the economic reopening of Venezuela and movements in the energy market, Aruba cannot afford to remain stuck in the mindset of a single industry. We must think bigger.
Economic diversification is not a slogan; it is a matter of national survival. A country that depends on a single economic engine eventually loses flexibility, bargaining power, and stability. Aruba simply cannot remain vulnerable every time global tourism faces a crisis.
Conclusion
The future of Aruba must undoubtedly include tourism, but also technology, logistics, modern industry, renewable energy, and the structural development of our ports. Of course, the idea is not to go back to the past like in the days of the Lago refinery, but precisely to create more possibilities for our future.
The question for Aruba is not whether tourism is important—of course it is. The question is: What other serious, profitable, and short-term economic pillar is Aruba focusing on right now to protect its future over the next 20 years? According to Tevreden, none is bigger than what is currently happening around us.
“Therefore, in Parliament, we submitted a motion for the Government of Aruba to explore the possibilities that exist within our region and act effectively to form strategic alliances in this momentum. Unfortunately, to this day, we have not seen a single concrete step. On the contrary, the current lack of vision raises the fear that we will simply stand by and watch while the ship of progress passes us by.” — MP Hendrik Tevreden