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Posted by Eddy: Fri Jan 13, 2006 10:05 am
1,503 New Businesses And 196 Businesses Gone In 2005
January 13th 2006, Aruba.
ORANJESTAD-A total of 1,503 new businesses registered at the Chamber of Commerce during 2005. In the first 6 months of 2005 a total of 774 new businesses registered at the Chamber. In the last 6 months of that year 729 new businesses wrote in of which many restaurants and cleaning services.
As much as 196 businesses stopped operating in 2005 in comparison to 109 businesses that did so in 2004. The first half of 2005 was good for businesses on the island
contrary to the second half of the year where many businesses had to struggle.
The hurricanes that devastated parts of the U.S. as well as the ongoing War on Iraq are to blame for less U.S. travel abroad and
noticeably less tourists from the U.S. market to Aruba in 2005 according to the preliminary report of the Chamber.
The rise in oil prices and thus higher costs on electricity and water tariffs have somewhat added pressure on the economy. The disappearance of Natalee Holloway in June 2005 may have played a role as well in business activity setback.