ORANJESTAD:
The closure of airspace over Aruba, Curaçao, and Bonaire is resulting in an estimated daily loss of approximately USD 18 million in tourism revenue, according to an analysis by Cornerstone Economics.
The losses stem from the aftermath of the U.S. military actions in Venezuela and the mass flight cancellations that followed. U.S. airlines and KLM suspended their flights, leaving an estimated 1,200 passengers stranded on the first day alone.
While regional connections and inter-island flights have largely remained operational, they are insufficient to compensate for the loss of traffic from major source markets. The timing is particularly unfavorable, as January is a peak tourism month, with more than 80% of visitors arriving by air.
Cornerstone Economics estimates that Aruba alone is losing approximately USD 11 million per day, while Curaçao loses around USD 6 million and Bonaire about USD 1 million, as long as the airspace restrictions remain in place.
According to the analysis, the damage extends far beyond aviation and hotels. The initial shock of flight cancellations and blocked arrivals continues to be felt in the weeks that follow, through lower hotel occupancy, increased pressure on employment in the tourism sector, and reduced government revenue from sources such as sales tax, tourism levies, and airport fees.
Cornerstone Economics emphasized that these figures are not projections, but rather a real-time calculation that began the moment the airspace was closed. For small island economies, the firm noted, the economic impact of airspace closures is almost immediate.
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