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Saint Martin, Caribbean

LIST OF INSURANCE COMPANIES IN SAINT MARTIN​

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LIST OF LOGOS OF INSURANCE COMPANIES IN SAINT MARTIN​

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The economy of Saint Martin

The economy of Saint Martin, divided between the French Collectivity of Saint Martin (north side) and the Dutch Sint Maarten (south side), is predominately dependant on tourism. For more than two centuries, the main commodity exports have generally been set and locally grown commodities, like sugar.

Until the island was affected by Hurricane Irma in 2017 and the COVID-19 pandemic in 2020, which put a stop to cruising, tourism accounted for 80% of the economy and about four-fifths of the labor force was engaged in that sector. As an island in the Caribbean Sea, Saint Martin enjoys the kind of weather and natural geography that supports tourism. Its proximity to the rest of the Caribbean has also provided economic benefits to its largest airport, Princess Juliana International Airport on the Dutch Sint Maarten side, serving as the main gateway to the Leeward Islands.

The larger post-Panamax cruise ships made regular stops to the island. The island offers duty-free shopping and there are few business restrictions to hinder growth. Though the French and Dutch parts differ slightly in terms of their economies and types of tourists, they share the Caribbean’s largest lagoon, which is frequented by yachts.

In 2013, nearly 1.8 million visitors came to the island cruise ship and roughly 500,000 visitors arrived through Princess Juliana International Airport. Cruise ships and yachts also call on Saint Martin’s numerous ports and harbors.

Limited agriculture and local fishing mean that almost all food must be imported. Energy resources and manufactured goods are also imported. The Dutch part of the island has the highest per capita income among the five islands that formerly comprised the Netherlands Antilles.

From Wikipedia

Saint Martin, Caribbean – World Insurance Companies Logos