Aruba Travel Guide - Business

• GDP: US$2.2 billion (2008).
• Main exports: Oil products, animals and animal products, art and collectibles, machinery and electrical equipment.
• Main imports: Crude oil, food and manufactured goods.
• Main trade partners: The Netherlands, The Netherlands Antilles and Venezuela.

Between 1824 and 1916, the economy was based on gold mining. An oil refinery opened in the mid 1920s and was the most important commercial operation on the island until its closure in 1985. However, it was re-opened in 1991 and oil reassumed its central position in the Aruban economy. In the meantime, a sizeable tourism sector grew up. Aruba now receives 1.5 million tourists a year, 75% from the USA.

More recently, Aruba has been joined by offshore service industries, including finance and data processing. The country’s free-port status, ship bunkering and repair facilities are the island’s other main sources of revenue.

Light industry is limited to the production of some tobacco products, drinks and consumer goods. Agriculture is confined to small-scale activity, because of poor soil quality. Aruba is classed as an Associated Territory of the European Union.

In 2005, growth was at 2.5% with inflation at 3.4% and unemployment at 6.9%.

Business dress and etiquette tend to reflect that of the USA. It is usual for men to wear ties to business meetings. Exchanging business cards is the norm. Meetings are usually held during office hours in the workplace.

Office hours: Mon-Fri 0800-1700.

Chamber of Commerce and Industry Aruba
JE Irausquin Boulevard, PO Box 140, Oranjestad, Aruba
Tel: 582 1566.
Website: www.arubachamber.com

De Palm Tours NV (Information on Conferences/Conventions)
L G Smith Boulevard 142, Oranjestad, Aruba
Tel: 582 4400.
Website: www.depalm.com