HVS Report – Island of Alternative: Curaçao’s Tourism Transformation

The Caribbean has lengthy captivated vacationers with its pure magnificence, year-round sunshine, and vibrant tradition. Throughout the ABC Islands (Aruba, Bonaire, and Curaçao), Curaçao has just lately emerged as a standout, fueled by its distinct id, rising investments, and growing international visibility.

As soon as economically reliant on petroleum refining, with further assist from monetary providers and tourism, Curaçao has seen tourism emerge because the cornerstone of its economic system because the refinery’s closure in 2018. This shift has develop into much more obvious within the post-pandemic period. The island boasts dozens of white-sand seashores, vibrant reefs, and world-class snorkeling, in addition to the historic capital of Willemstad, a UNESCO World Heritage Website recognized for its Dutch Colonial structure. Willemstad’s rising artwork, purchasing, and eating scene and the island’s pure belongings, rising visitation, and sustained funding are positioning the nation for continued progress as a premier Caribbean vacation spot.

Customer Patterns and Drivers of Progress

In line with the Curaçao Vacationer Board (CTB), the island recorded over 1.57 million vacationer arrivals in 2024, in contrast with 1.293 million in 2019. Previous to the pandemic, cruise tourism dominated customer numbers, typically far surpassing stopover arrivals by air. Latest figures, nevertheless, point out a shift towards a extra balanced distribution between cruise passengers and stopover guests. This shift is important as a result of stopover vacationers usually spend extra time on the island and generate larger financial impression by lodging, eating places, and transport providers. 

Stopover and Cruise Tourism Reaching Related Ranges

Supply: Curacao Vacationer Board

In essence, Curaçao is evolving from a cruise-dependent vacation spot to at least one with a more healthy equilibrium between cruise and stopover guests, signaling a maturing tourism business higher positioned to assist native companies and distribute the advantages of tourism extra broadly throughout the island. This shift has been largely influenced by investments within the Curaçao Worldwide Airport, together with a serious growth in 2019 and the continuous addition of latest routes. The ensuing progress in stopover arrivals and diversification of customer markets has fueled important on-island funding and improvement, significantly in accommodations and different lodging. In complete, knowledge from the CTB present that the island welcomed roughly 1.12 million complete guests YTD by August, a 7% enhance from the 1.04 million recorded throughout the identical interval final 12 months.

Inside Curaçao’s Lodging Growth

Up to now, Curaçao provided a various mixture of lodging choices that included some conventional accommodations however primarily comprised condominiums, villas, and flats. These different lodging had been traditionally the dominant alternative of vacationers, largely due to the restricted variety of branded, internationally acknowledged accommodations on the island. This example typically made occupancy and lodging fee knowledge much less dependable given the dearth of reporting to corporations like STR.

Nevertheless, this development has shifted in recent times. In line with Tourism Analytics, accommodations have now surpassed different lodging as the first lodging alternative for stopover guests to Curaçao. One main driver has been the entry and growth of internationally branded accommodations. For instance, Hyatt’s 2021 acquisition of Apple Leisure Group introduced properties corresponding to Desires Curaçao Resort, Spa & On line casino and Sunscape Curaçao Resort, Spa & On line casino below the Hyatt umbrella. These affiliations gave the island’s lodge sector larger visibility and helped it seize renewed demand in the course of the post-pandemic tourism rebound.

Shifting Preferences: Lodges Outpacing Various Lodging Since 2023

Supply: Tourism Analytics

One other key issue has been the rising presence of all-inclusive resorts, which proceed to strengthen Curaçao’s lodging market. The opening of Zoëtry Curaçao Resort & Spa in 2021 diversified the island’s upscale choices and strengthened its aggressive place within the Caribbean. This momentum is ready to proceed with main initiatives throughout the island, together with new flats, condominiums, and accommodations. Starting in 2026, tons of of latest lodge rooms will come on-line, because the $80-million, 300-key TUI Blue Curaçao in Santa Marta and the 305-key Pyrmont Curaçao, Autograph Assortment in Penstraat are each slated to open within the second quarter of 2026. Further residential models may also be added to the island by expansions at Blue Bay Curaçao Golf & Seaside Resort and ONE Mambo Seaside.

Tourism Improvement Outlook

In line with the Curaçao Hospitality and Tourism Affiliation (CHATA), tourism accounts for 48% of the island’s GDP and helps greater than 20,000 jobs. Though the sector was a key driver of the 5.4% financial progress recorded final 12 months, challenges are anticipated for the years forward. CHATA estimates a necessity for two,000 to three,000 extra employees throughout the subsequent two years for tourism-related companies, elevating issues that speedy progress might stretch each the workforce and native infrastructure.

In response, native authorities are taking steps to handle this trajectory. The CTB is conducting a carrying capability examine to establish potential bottlenecks, whereas the CTB and Ministry of Financial Improvement have collectively invested in varied work-study applications over the previous a number of years to coach native expertise for careers in tourism.

Right this moment, the tourism sector has emerged as each a strong engine of financial progress and a defining aspect of Curaçao’s id. With its Caribbean enchantment, expanded airlift, and new worldwide lodge manufacturers, Curaçao is taken into account a premier vacation spot for international vacationers. This tourism increase is creating important alternatives to capitalize on rising visitation and spending, significantly by the demand for various lodging choices, which stay on the forefront of improvement and funding on the island.

Whereas challenges round sustainability, workforce capability, and the preservation of cultural id stay, the Curaçao authorities and tourism authorities are taking proactive steps to make sure the business continues to thrive. As well as, the most recent version of Caribbean Resort Funding Convention & Operations Summit (CHICOS) is being held in Curaçao this November, which is predicted to spice up the island’s economic system and profile.

At HVS, we flip knowledge into highly effective insights that drive your success. For extra details about markets within the Caribbean, or for help in making knowledgeable funding choices that align along with your objectives and threat tolerance, please contact John P. Lancet, MAI, or Donald C. Stephens Jr. About CHICOS The Caribbean Resort Funding Convention & Operations Summit (CHICOS) is the premier annual hospitality convention within the area. In 2025, CHICOS will likely be held November 9–11 in Curaçao on the Curaçao Marriott Seaside Resort. The convention theme, “Navigating the Present: Funding Methods within the Caribbean,” will information well timed discussions on financing, improvement, operations, and the way forward for Caribbean hospitality.

CHICOS brings collectively tons of of regional and worldwide buyers and operators, in addition to the area’s main decision-makers. Additionally taking part as attendees or audio system are authorities representatives, opinion leaders, builders, bankers and different lenders, tourism officers, funding fund representatives, lodge model executives, tourism builders searching for buyers, franchise and operations firm delegates, private and non-private establishment members, consultants, advisors, architects, and designers. Convention attendees community and focus on the area’s markets and potentialities, whereas analyzing an important tendencies that may have an effect on their funding choices.

For convention information, updates, and commentary, observe CHICOS on Twitter/X at @CHICOS_HVS, on LinkedIn, on Fb, and on Instagram at @chicos_caribbean.

Sources

https://chata.orghttps://www.curacao.comhttps://www.curacaotouristboard.comhttps://www.curacaochronicle.comhttps://tourismanalytics.comhttps://whc.unesco.orghttps://travmedia.comhttps://icm.cwhttps://www.caribjournal.com/

Patrick Nau is a Consulting and Valuation Supervisor with the HVS Tampa – St. Pete workplace. He graduated from the College of Wisconsin–Madison with a Bachelor of Enterprise in Actual Property & Finance, Funding, and Banking. Whereas in Madison, Patrick gained lodge expertise working for the Edgewater Resort. Moreover, his time interning with Landmark Improvement strengthened his understanding of actual property markets. Pairing his expertise together with his collaborative nature, he goals to supply our purchasers with distinctive hospitality consulting service. Contact Patrick at +1 (813) 399-1804 or [email protected].