Macro - Country Economic Forecasts - Aruba

Macro - Country Economic Forecasts - Aruba

Despite the US move to put Aruba on its no-fly list in Q3 2021, hotel vacancy rates indicate Aruba ended 2021 on a high note and that the recovery has continued heading into 2022. As a result, we now expect there was a quicker recovery towards the end of 2021 than our previous forecast and have increased our 2021 GDP forecast from 7.1% to 14%. That said, risks stemming from the Russia-Ukraine conflict have led us to downgrade our 2022 GDP forecast to 8.1% from 15.1%.