Bonaire grows as Saba economy contracts in 2024

Bonaire’s economy grew by 4.0% in 2024, while Sint Eustatius recorded growth of 1.6% and Saba’s economy contracted by 4.4%, according to new figures from Statistics Netherlands (CBS). The figures show sharply different paths across the three Caribbean Netherlands islands, with Saba’s decline driven mainly by education and public administration.

On Bonaire, growth was spread across many sectors. Value added in energy, water and waste management rose by 11%, alongside a 5% increase in the island’s population. The hospitality sector grew by 8%; CBS also reported that overnight tourist numbers rose by 7.4% and household disposable income by 15% compared with 2023.

Trade and healthcare each grew by 6%. But not all sectors expanded: value added fell by 13.2% in agriculture and mining, 4.5% in construction and 3.7% in industry. Construction output was unchanged, while higher consumption of inputs reduced the sector’s value added, CBS said.

On Sint Eustatius, growth was led mainly by business services, public administration and construction. The volume of work in public administration rose by 7.2%. Transport, information and communications declined.

Saba’s contraction was concentrated in education, where value added fell as student numbers decreased. Public administration also contributed to the fall; employment in that sector declined by 1.6%. Trade, healthcare and hospitality grew.

The longer-term comparison is stark: in inflation-adjusted terms, Bonaire’s economy was more than 40% larger in 2024 than in 2014. Sint Eustatius’s was nearly 30% smaller over the same period, largely because value added fell at a limited number of large businesses. Saba’s economy also shrank compared with 2014, particularly because of a decline in education.