Industries

Industries

Tourism & Leisure

Aruba’s primary industry is tourism and leisure which produces more than 80% of our GDP. Hotels, watersports, transportation, restaurants and entertainment are just some of the areas of this very important sector. But the sector faces many challenges from world events, competing destinations, changing demands of customers, new technologies, availability of alternatives like air B&B, but also ever increasing costs of doing business.

Family Businesses

You can find it in almost every family business: the wall with photographs portraying the history of the business. In a small Island economy like Aruba, family businesses have been a driving force for years. But a family business faces unique challenges, not only in its day-to-day business operations, but also on the home front.

Consumer Business

The traditional retail landscape is under severe pressure. New technologies, internet shopping, and cautious spending levels due to economic uncertainty, present both challenges and opportunities. Retailers ready to innovate and adapt to new ways of attracting customers will do well but keeping pace with the changes can be difficult without the right help.

Financial Services

There’s a lot going on in financial services today. Regulators, financiers, shareholders and other stakeholders are placing increased demands on providers. Expectations are high around corporate governance, competitive advantage, product innovation and performance. At the same time, the financial sector must embrace the shift from traditional customer service channels to digital. With that comes new challenges and opportunities.

Professional Services

Professional services firms on Aruba are faced with clients demanding more for less. Increased regulation, use of technology and internationalization are all impacting the way that professional services firms operate. In a market where transactional activity is common, the largest players continue to gain size, sophistication and global reach, whilst there are also significant opportunities to be had for well-run niche firms with the right skills and talented people.

Real Estate

Lowering interest rates have an impact on the growth of the real estate industry. Competition within that industry remains fierce as commission discounting continues to impact profitability. In addition to slowing economic conditions, industry players are also exposed to regulatory uncertainty amid ongoing scrutiny of the real estate market.

Manufacturing

Manufacturing is a relatively small industry on Aruba due to its size and climate. One of the main products exported from Aruba are the famous Aloe products. But local firms also produce alcoholic beverages, agricultural produce and chemicals. The movement towards more automation and digitization brings both opportunities and challenges. Aruba’s manufacturers will need to change and invest to keep pace.

Not-for-Profit

BDO knows that not-for-profit organizations are founded upon strong relationships. A value BDO shares and is known for. Our experienced team works closely with you to design cost-effective approaches to improving operational performance, while maintaining a strong commitment to the communities you serve.

Public Sector

In a small Island economy as Aruba, the government is directly or indirectly responsible for services like providing water and electricity, telecommunication, waste collection, infrastructure, town planning, health care, old age care and the likes. Some of these core activities have been privatized into corporations, others are still operated the traditional way.