Yes, we are definitely happy people here in Aruba. We carry our happiness around like a badge of honor. It’s been the island’s motto for decades now. While even the most long-standing enterprises eventually change their slogan, why change what is true and truly works? We won’t tell you what happiness is, but for many, happiness and accomplishment go hand-in-hand. Whether you are contemplating where to take your next venture, looking to expand your horizon, or enhancing your net worth, happiness is what you make it to be.
Among the islands, Aruba is second to none. Not only for its amicable hospitality and sun-kissed environment but also as an investment destination. Nestled within the Caribbean, Aruba stands strong as the next frontier for exploring untapped investment opportunities and commercial growth where island and regional solutions are poised for success. Along with social, economic, and political stability, a consistent climate, and a solid brand image, there is little reason to not launch your next endeavor in paradise. It is sure to leave you smiling.
Blame it on the year-round sunshine or the steady breeze, Aruba’s bliss literally attracts millions of people every year, and consequently a continuously increasing nest of potential clients for your product and services. Current projections indicate that Aruba will reach the 3 million visitors per year mark by 2030.
Investment in the Caribbean is certainly not a new formula; it is a tried-and-true option. Entrepreneurs and corporations alike are just following the money: Millions of visitors with even more millions of spendable dollars in their pockets, captivated by the feeling of freedom and relaxation, and of course one or two umbrella-adorned cocktails.
The traditional image of doing business in the Caribbean is no more. Many still need to shake the outdated image of doing business by setting up a tin shack under some palm trees on a remote beach. This image no longer stands for modern-day Aruba. The Aruban economy is, now more than ever, filled with a myriad of profitable activities.
From agriculture to aviation and from circular economy to science, the diversification of Aruba’s economy is well underway. The science sector, for example, together with other technical and knowledge-intensive activities, is the fastest growing with a 153% increase in company registrations at the Aruba Chamber of Commerce as per the first quarter of 2022.
Since the early 2010s, it is in the vision of the Aruban government to foster economic sustainability through diversification. As good as the tourism industry has been for Aruba for over 70 years, it would be folly to have all your eggs in one basket nor should you kill the goose that lays the golden eggs.
Public and private sectors are investing in wind, solar, and waste-to-energy sources to support economic growth in a clean, sustainable way. Aruba is opening its doors to environment-conscious endeavors with the same warmth as it did its first tourists in the mid-50s; this time around with a much clearer understanding of the importance of harmony between prosperity and preservation.
We have so much more to offer than just our signature hospitality. Between an idyllic geographical setting that serves as a gateway hub between Europe and the Americas, and the knowledge and experience to accommodate and communicate in at least four languages, Aruba is endowed with an array of favorable factors.
Finding a capable and reliable workforce in Aruba isn’t a concern for a new investor. Albeit limited in population size, the island approach is that of quality rather than quantity. The literacy rate is 97.81% and our Bachelor’s and Master’s graduates hail from some of the best universities in the Netherlands, the US, and Canada.
As for national institutions, the University of Aruba has faculties in Law, Hospitality & Tourism Management, Accounting Finance & Marketing, and also Arts & Sciences. Additionally, there is a wide offer of business services backed by one of the highest internet penetration rates in the Caribbean.
The Great Resignation is unheard of in Aruba. On the contrary, it should not take much convincing for one of your human assets to agree to work remotely from Aruba. The island offers the ‘One Happy Workation’ program that hundreds have enjoyed and benefited from these last couple of years.
As a self-governing nation within the Kingdom of the Netherlands, Aruba is backed by excellent international trade relations and treaties under the European Union and United Nations, among others. Contracts and agreements are formulated and executed as Dutch law indicates. Notwithstanding the perpetual peace that reigns on the island, the presence of the Dutch defense is a reassuring notion.
Aruba currently boasts a robust economy with a GDP of 3.4 billion dollars. This is a remarkable feat for a population of approximately 110 thousand people on a 180 square kilometers territory. Post Covid-19, the island pivoted to make a remarkable resurgence. In record-breaking times, statistics are either equal to or higher than in pre-pandemic days. This is especially boosted by the high demand from the travel industry.
In addition to two maritime ports and an international airport, Aruba makes it easier and more attractive for small, medium, and large entrepreneurs geared towards export-forwarding models when situated in Free Zone. Free Zone enjoys major benefits, such as 0% import duties and excises on goods and equipment, and 0% turnover and dividend tax.
As for export, goods from businesses in Aruba are free of import duty to the EU under origin rules. The island is also a beneficiary of the Caribbean Basin Trade Partnership Act, allowing businesses to derive trade benefits for eligible exports into the US market.
If you are looking to enterprise in a sustainable and meaningful way, then you have found the place. Aruba set in place a set of specific National Strategic Goals based on the Sustainable Development Goals established by the United Nations. Among other tools, this is aimed at stimulating the inflow of international investment. Additionally, Aruba initiated the transition to an e-government way of doing business to ease bureaucracy and expedite the permit and licensing process.
In conclusion, the island of Aruba offers an untapped investment climate. The Aruba Investment Agency (ARINA) is tasked with attracting and facilitating new investments in Aruba’s six Promising Sectors: Knowledge Economy, Circular Economy, Logistics, Agriculture, Creative Industries, and Niche Tourism. You should think of ARINA as your first point of contact for support in opening or relocating your business. ARINA can help you with understanding the requirements and incentives, and facilitate matchmaking, so you can continue pursuing your ambition. This is to boost confidence, reduce uncertainty, and simplify your informational needs.
Connect with us to explore the opportunities that Aruba and its happy people have to offer.