Economic Overview
Tourism is the mainstay of the small, open aruban economy, with offshore banking and oil refining and storage also important. the rapid growth of the tourism sector over the last decade has resulted in a substantial expansion of other activities. over 1.5 million tourists per year visit aruba, with 75% of those from the us. construction continues to boom, with hotel capacity five times the 1985 level. in addition, the country's oil refinery reopened in 1993, providing a major source of employment, foreign exchange earnings, and growth. tourist arrivals have rebounded strongly following a dip after the 11 september 2001 attacks. the island experiences only a brief low season, and hotel occupancy in 2004 averaged 80%, compared to 68% throughout the rest of the caribbean. the government has made cutting the budget and trade deficits a high priority.
Environmental Issues
Na
Government Type
Parliamentary democracy
Population
101,541
note: estimate based on a revision of the base population, fertility, and mortality numbers, as well as a revision of 1985-1999 migration estimates from outmigration to inmigration, which is assumed to continue into the future; the new results are consistent with the 2000 census (july 2008 est.)
Location
Caribbean, island in the caribbean sea, north of venezuela
Area
Total: 193 sq km
land: 193 sq km
water: 0 sq km
Slightly larger than washington, dc
Country Aliases
Conventional long form: none
conventional short form: aruba
Capital
Name: oranjestad
geographic coordinates: 12 31 n, 70 02 w
time difference: utc-4 (1 hour ahead of washington, dc during standard time)
International Disputes
None
Sources: Central Intelligence Agency (CIA)
