The economy produces what we need to live and creates jobs that make it possible for people to participate in society.
The pandemic has further exposed the fragility of the economy. We need a new economic model worldwide. The system must be sustainable, circular, autarkic, inclusive, more balanced, and diverse, a Green New Deal. It is about the New Capitalism (Stiglitz’s term) and adapt entrepreneurs to this. Corporate Social Responsibility and based on Sustainable Development principles.
A holistic approach that embraces social and ecological perspectives, both locally and globally. “How can the island be home to thriving people in a thriving place. While respecting the well-being of all people and the health of the whole planet.”
Curaçao in 2030 has advanced manufacturing and production stimulated by the government using local materials such as aquatic sea materials. The country has a well-organized supply chain and transport system. The country makes use of the reference to its name “cura” or healing and offers wellness and healing to tourists who travel to the island making use of a sophisticated health travel system because of the Islands holistic and advanced healthcare system
Use the doughnut model for Curaçao: a guide to what it means for countries, cities, and people to thrive in balance with the planet. The inner ring of her donut sets out the minimum we need to lead a good life, derived from the UN’s sustainable development goals and agreed by world leaders of every political stripe. It ranges from food, clean water to a certain level of housing, sanitation, energy, education, healthcare, gender equality, income, and political voice. Anyone not attaining such minimum standards is living in the doughnut’s hole.
The outer ring of the doughnut, where the sprinkles are, represents the ecological ceiling drawn up by earth-system scientists. It highlights the boundaries across which humankind should not go to avoid damaging the climate, soils, oceans, the ozone layer, freshwater, and biodiversity.
Doughnut model from the British economist Kate Raworth
Between the two rings is the good stuff: the dough,
where everyone’s needs and that of the planet are being met.
The challenge now is to create a local economy that ensures that no one falls short with respect to life’s essentials – from food and housing to healthcare and political voice – while safeguarding earth’s life-giving systems – from a stable climate and fertile soils to healthy oceans and a protective ozone layer.
Curaçao stays in the doughnut in the following way. Curaçao boasts a creative, innovative, and knowledgeable pool of talent, both locally and globally. These resources, along with the further development of the Information Communication Telecommunication infrastructure, will be the economic backbone of the island.
In 2030 there is much more involvement of local capital (investments) in local development, like in agriculture and energy.
The local economy is the basis for export. Curaçao has a healthy import/export economy. Most food and beverage are locally sourced. The inhabitants of Curaçao have developed the natural resources of the island and the local talent to create desirable goods and services for the local population and international demands.
Personal capacities of the Curaçao people have boosted the economy, making Curaçao a unique island where the individual well-being is part of the economy. The island has shorter workweeks , and there is a shift from working for large corporate companies to working in small networks of SME’s
Key sectors to focus on in the short-term include the following:
Financial Services (KvK, 2019, Sembra awe; National Export Strategy)
While this would be an excellent outcome, it is important to note that the future is about cross-sector innovation over all the borders of these traditional sectors and others who still must be identified.