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IMF estimates Sint Maarten 2020 GDP down 24% #261772
08/03/2021 06:51 AM
08/03/2021 06:51 AM
Joined: Aug 2012
Posts: 2,288
P
PelicanPirate Offline OP
Traveler
PelicanPirate  Offline OP
Traveler
P
Joined: Aug 2012
Posts: 2,288

SXM Sponsors
Re: IMF estimates Sint Maarten 2020 GDP down 24% [Re: PelicanPirate] #261777
08/03/2021 08:53 AM
08/03/2021 08:53 AM
Joined: Mar 2008
Posts: 2,492
Grenada
Zanshin Offline
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Zanshin  Offline
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Posts: 2,492
Grenada
That report certainly paints a dismal picture with little short-term optimism in sight.


[Linked Image]
Re: IMF estimates Sint Maarten 2020 GDP down 24% [Re: Zanshin] #261780
08/03/2021 10:18 AM
08/03/2021 10:18 AM
Joined: Aug 2012
Posts: 2,288
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PelicanPirate Offline OP
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PelicanPirate  Offline OP
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The island looked very hopeful and busy in July.

Re: IMF estimates Sint Maarten 2020 GDP down 24% [Re: PelicanPirate] #261782
08/03/2021 10:41 AM
08/03/2021 10:41 AM
Joined: May 2004
Posts: 1,193
Virginia
Snorkeller Offline
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Snorkeller  Offline
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Posts: 1,193
Virginia
Thanks for posting link to this report. Table 2 of that report shows how bad things have been for Sint Maarten since Irma. When you consider that the contraction in 2020 was from the level of 2019 (which had some growth after contractions in 2017 and 2018), you realize the severity of the economic situation.

Re: IMF estimates Sint Maarten 2020 GDP down 24% [Re: Snorkeller] #261783
08/03/2021 11:15 AM
08/03/2021 11:15 AM
Joined: Mar 2001
Posts: 17,476
Ohio
ruralcarrier Offline
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ruralcarrier  Offline
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Posts: 17,476
Ohio
Like my long-time taxi driver friend indicated, this is unlike any hurricane as it impacted the entire world and it is not a matter of just rebuilding structures. This is a much more severe and longer lasting impact than any natural disaster.


J.D.
Re: IMF estimates Sint Maarten 2020 GDP down 24% [Re: ruralcarrier] #261790
08/03/2021 12:25 PM
08/03/2021 12:25 PM
Joined: Aug 2000
Posts: 82,478
Central Florida!
Carol_Hill Offline
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Carol_Hill  Offline
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Posts: 82,478
Central Florida!
JD--that is so true. And coming on top of Irma? I don't know what the failure rate of small businesses is in SXM, but it has to be astronomically high.


Carol Hill
Re: IMF estimates Sint Maarten 2020 GDP down 24% [Re: Carol_Hill] #261798
08/03/2021 02:38 PM
08/03/2021 02:38 PM
Joined: Mar 2001
Posts: 17,476
Ohio
ruralcarrier Offline
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ruralcarrier  Offline
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Joined: Mar 2001
Posts: 17,476
Ohio
Originally Posted by Carol_Hill
JD--that is so true. And coming on top of Irma? I don't know what the failure rate of small businesses is in SXM, but it has to be astronomically high.

All one has to do is look at all the closed storefronts on Front Street. Something like 60% vacancy from what I recall? This was not a blip on the radar, this was/is a life-changing event for many on the island. Much more the rebuild and repair as this has had financial implications across the world.


J.D.
Re: IMF estimates Sint Maarten 2020 GDP down 24% [Re: PelicanPirate] #261839
08/03/2021 10:58 PM
08/03/2021 10:58 PM
Joined: Oct 2017
Posts: 933
S
SammyM Offline
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SammyM  Offline
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Joined: Oct 2017
Posts: 933
Maybe, just maybe when COVID finally comes to an end and cruise ships begin to return in realistic numbers things will begin to improve. Ports-of-call with an overnight stay in SXM would be helpful, and we actually did that once with Celebrity years ago. Here's hoping.


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