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Macro - Country Economic Forecasts - Aruba

Publisher Oxford Economics
Published May 22, 2024
Length 4 Pages
SKU # OFE18813054

Description

Macro - Country Economic Forecasts - Aruba



We have upgraded our 2024 GDP forecast for Aruba by 0.8ppts to 2.2% y/y growth. This adjustment is driven by the resilience of the US economy, which accounts for over 80% of Aruba's overseas visitors, thereby boosting tourism activity. Arrivals are expected to surpass pre-pandemic levels in both 2023 and 2024. However, weak private investment is likely to constrain growth this year, as the pipeline of public construction projects tapers off following the completion of major projects in 2023. Tourism will continue to be a significant contributor to growth in 2025, with a projected increase of 4.3% as tourism-related construction projects commence and US interest rates moderate.

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4 Pages
Please Note: Due to the brevity and/or nature of the content posted, there is no table of contents available for this report.

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