The decline in the GDP of Sint Eustatius compared to 2017, adjusted for price developments, was mainly caused by contractions in public administration, education, and healthcare.
The value added of construction in Bonaire increased by 21.4 percent. The rise in construction is widely supported and is related to the many construction projects on the island. In the energy, water, and waste management sector, the value added increased by 18.3 percent due to higher production of electricity and water while consumption rose less sharply. Additionally, financial services grew by 11.7 percent in line with job development in this sector.
The incoming tourism by plane decreased from 173 thousand tourists in 2022 to 171 thousand in 2023. The number of cruise passengers increased from 285 thousand to 392 thousand in 2023. Cruise tourists spend less in Bonaire than stay tourists.
The increase in the number of tourists combined with a population growth on the island of 5.5 percent also led to an increase in the value added of hospitality (8.8 percent). The value added of public administration increased by 6.0 percent due to a rise in the number of jobs in this sector.
Notably, agriculture and mining decreased by 34 percent. In 2023, there was less demand from abroad for raw materials.
Behind the 0.5 percent decline in Sint Eustatius are multiple sectors. The decline was mainly caused by the drop in value added from public administration. In that sector, the labor volume decreased by 6.3 percent. Education also contributed to the economic decline. A decrease in the number of students combined with higher consumption leads to a decline in value added in education. Additionally, the value added in healthcare also decreased, where consumption rose faster than production. The value added in the rental and real estate sector also fell, particularly due to a significant contraction in production.
Incoming tourism increased from 5.6 thousand tourists in 2022 to 5.8 thousand in 2023. This is an increase of 3.6 percent. This increase also led to a rise in the value added of trade and hospitality.
Education contributed the most to the economic decline. The value added of this sector decreased due to fewer students. Public administration also contributed to the GDP decline in 2023. The number of jobs in this sector decreased by 4 percent.
Incoming tourism in Saba increased from 4.9 thousand tourists in 2022 to 5.7 thousand in 2023. The level is still significantly lower than in 2019 when 8.8 thousand tourists visited the island. As tourism has resumed, the value added in trade and hospitality increased.
A translation of this message in Papiaments can be requested at the CBS office in Bonaire via the email address: caribischnederland@cbs.nl.
