Opportunities, challenges and entrepreneurship
Now more than ever, entrepreneurship plays a key role in Curaçao’s economy. Not only because of growing opportunities, but also because the challenges call for decisiveness, flexibility and local solutions.
Various reports and policy initiatives show that entrepreneurs create more employment, more innovation and a more resilient local economy. And at Qredits Curaçao, we see this in practice every day. According to our analyses and social impact reports, Qredits Curaçao has contributed to the creation of more than 600 jobs – about 1% of the island’s workforce.
In 2024 alone, we have financed 50 entrepreneurs, amounting to over 2 million guilders in credit.
Curaçao is an autonomous country within the Kingdom of the Netherlands with a relatively small but diverse economy. Historically, it mainly relied on tourism, international trade, financial services and oil refining. Although these sectors are still important, the economic landscape is shifting.
Tourism remains a driving force: in 2024, the number of visitors grew by more than 20%. This led to more employment and also boosted hospitality, transport and the creative industry. At the same time, it highlights the vulnerability to global fluctuations, as seen during the 2020 pandemic.
The financial sector contracted due to stricter regulations and reduced foreign investments. The oil refinery in Willemstad, once a major employer, has now largely shut down. There is a clear shift towards sustainable alternatives:
The government is working on reforms and investing in infrastructure, partly in collaboration with the Kingdom. Yet, the high national debt and youth unemployment remain worrying factors.
That is why entrepreneurship is not just an option, it is a necessity.
Would you like to know how Qredits Curaçao contributes to this positive change?
