Aruba’s tourism sector has, for a long time, been able to attract investment, which has led to the island’s rapid economic expansion and the establishment of its reputation as a popular tourist destination.
The country’s economic policy promotes an open, market-based economy that is backed by a robust service sector, a skilled labor force, and an investment-friendly environment. The capacity of communities and networks to support the growth of companies and the increase of business opportunities is the island’s primary economic driver.
Although the island of Aruba is arguably most well-known for its beaches and the friendliness of its inhabitants, there are several prospects for business and investment on the island.
By relying on the island’s unique physical and strategic location, the government of Aruba has the goal of transforming the country into a knowledge and sustainability hub that is recognized across the Americas, the Caribbean, and Europe. Investors from all over the world have shown a significant amount of interest in this so far.
The nation is known for its high level of living, multicultural environment, and modern airport, all of which contribute to the island’s good travel connections to the United States, Europe, and Latin America. It is a desirable location for commercial enterprises on account of the features listed above.
The nation benefits from the political stability of its parent country, the Netherlands, as well as an excellent judicial system and close cooperation with the Netherlands’ diplomatic missions located all over the world.
Reasons to enter Aruba’s market
You should consider entering the market in Aruba for several reasons, some of which are listed below.
The strategic position of Aruba is among the most crucial reasons to use Aruba as your business base. An optimal location in terms of geography is along the east-west and north-south trade routes. The island is outside the hurricane belt and close to significant trade routes. Geographically speaking, Aruba is a part of the Kingdom of the Netherlands and enjoys good relations with the EU as an OCT (Overseas Countries and Territories).
Exceptional global connections
Despite its tiny size, Aruba is well connected to the rest of the world, having (daily) direct flights to Caribbean islands, Europe, and North and South America. Few other nations provide US customs and immigration services at the airport for visitors heading to the US, but Aruba is one of them.
When conducting business, communication is crucial. In Aruba, it doesn’t matter if you speak English, Spanish, Dutch, or Papiamento, we can understand you. It is also not difficult to find a translation for Chinese, Portuguese, French, or German. We are a very multicultural community with people from over 90 different countries residing here.
Safety and Security
Aruba has an extremely low crime rate, and there is a general air of safety around the island. This has been and continues to be a significant contributing factor to tourism’s steady rise. The business community places a high priority on safety, particularly for companies that use Aruba as a distribution hub.
The education level of the people of Aruba is among the highest in the area. Excellent opportunities for (international) students are available in Aruba’s educational system.
Modern port facilities and a cutting-edge airport are part of Aruba’s infrastructure. To modernize its infrastructure, Aruba is building a new Barcadera harbor. By utilizing renewable energy sources, utility expenses can be controlled.
Alluring financial advantages
Businesses that utilize Aruba as their gateway gain rewarding financial advantages. It is a competitive business destination due to its various (offshore) tax regimes.
Aruba’s special trade agreements include the Overseas Countries and Territories Agreement (OCT) for exports to Europe and the Caribbean Basin Initiative (CBI) for exports to the US. Both of these agreements can be found on the island of Aruba.