AIB Marielsa Arends Presentation PWN 5/25/12

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AIB Marielsa Arends Presentation PWN 5/25/12

  1. 1. Economic Structure and impact of business models of Aruba By Marielsa Arends-Croes, MSc, Executive Manager EFS AIB BANK N.V. Aruba May 25, 2012
  2. 2. The presentation outline:• Aruba’s Economic Composition• Economic interrelations• Economic triggers• Economic Diversification possibilities• High impact business models• Professional women contribution to the economy
  3. 3. Aruba’s Economy Composition Arubas GDP composition 17.3% 7.1% 3.4% 6.2% 13.2% 13.7% 12.5% 11.1% 7.0% 8.5% Agriculture & Manufacturing, Including Oil Refinery Utilities Construction Trade Hotels & Restaurant Transport Financial Intermediation Housing Public Administration & Education Other Business & Non-business services
  4. 4. Aruba’s economic activities in random order
  5. 5. Aruba’s economic activities interrelated
  6. 6. Current economy triggers• Main industry triggering 70% of all economic activity (directly & indirectly) – Tourism – Low income, labour intensive industry – Many fringe economic activities with significant economic impact – But also high social impact due to labour intensive nature
  7. 7. Economic Diversification motivation• Aruba is a small scale one-sided economy• Years of attempt to diversify to add other high impacting industries without success• Diversification within tourism has attention, but is not enough• Chance of losing 10-13% of economic chunk induced by Valero – need to replace• Infrastructure pressured by increasing population
  8. 8. High impact business models– High value high skill versus low skilled industries (health industry, education, financial services, innovation, etc…)– Business cost reducing option (business cost in Aruba is high….innovate to lower costs..)– Export inducing– Import reducing (agriculture, manufacturing, etc…)
  9. 9. Professional women contribution to the economyFood for thought….•All the women in this room contribute to the highmargin impact industries as professionals•We need to stimulate this further for cominggenerations•Education and professional jobs increase quality oflife directly – increased GDP per capita as well
  10. 10. My question to you: How do we best contribute to diversify and enhance our economic development but mainly our quality of life further? Choose your choices based on calculated projections of impact…..For any specific detailed economic information, please feel free to contact us: Tel: 297- 582-7327 ext. 326 Email: mac@aib-bank.com

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