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Epilogue
Our Future

The previous pages have chronicled Curaçao's successful struggle to overcome the lack of traditional sources of wealth. By exploiting the multiple facets of the island's role as linking pin between various parts of the world, from military base to financial center, Curaçao's rulers and entrepreneurs, through the centuries, managed to produce wealth and prosperity for themselves and the island.

As proven by recent reports, the above struggle has been all but abandoned in recent years as Curaçao - rather than develop new sources of wealth - grew dependent on the traditional pillars. The massive and seemingly never-ending flow of revenues generated by Shell's oil machine fostered complacency, while the advent, in later years, of the financial services industry and of modern tourism further weakened the innovative spirit. Indulging in the pleasures of progress, governments and citizens cashed in on the benefits of progress by developing an expensive infrastructure of public works and social security without much being done to secure long-term sustainability. The expansion of the business sector was mainly a result of a drive to capitalize on the prosperity generated by traditional productive sectors.

Fortunately, the economic slow-down of the late 1990's was understood by many as a last warning, that our future lies not in continuing to reach for dwindling wealth from old sources but in recreating the basis of our prosperity in the context of today's reality.

Through the ages, Curaçao has shown that its greatest economic successes have been achieved through globally competitive, internationally oriented business, a thesis confirmed recently in reports by a.o. the Interamerican Development Bank and the Curaçao Chamber of Commerce. Both entities stress the importance of stimulating internationally oriented economic activity.

Curaçao's greatest potential indeed lies in the re-development of its role as linking pin to the rest of the world. Many of the seeds of future progress have already been sown, with the financial service sector, the harbor and international trading sector, the hospitality industry and even the public sector having recently undergone critical reviews meant to improve their performance and international competitiveness.

Important elements of future progress are: our position as the politically stable and reliable Caribbean part of the Dutch Kingdom, excellent relations with Caribbean and Latin American neighbors, an internationally competitive business environment, a reinvigorated education system, an appealing, outward looking local culture, pleasant social climate, and cost-effective, state-of-the-art infrastructure, with special attention for the informatics and telecom sector whose performance is crucial to our future competitiveness in a world economy increasingly dominated by electronic business.

With most of these elements already in place, securing Curaçao's future success remains a matter of diligent, never-ending hard work, creativity and perseverance, characteristic of the past centuries of success and vital to the success of our next 500 years of history.

Paul R. J. Comenencia
Executive Director
Curaçao Chamber of Commerce & Industry

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Curaçao Chamber of Commerce & Industry