Curaçao

The lifting of travel restrictions and the resumption of operations at the Isla oil refinery plant will support growth in the 2023-24 forecast period, but a bleak global outlook for the US and Europe (two of Curaçao’s main sources of tourists) stemming from the war in Ukraine will weigh on disposable incomes in those countries, which will in turn dampen Curaçao’s tourism recovery. The administration of the centre-right Movementu Futuro Kòrsou party (elected in March 2021) has avoided taking financial assistance from the Netherlands since 2021, as it is staunchly opposed to the conditions attached to Dutch loans. However, a lack of other financing options could force the government to concede to Dutch financing terms. 

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