ORANJESTAD/THE BOTTOM – Households on St. Eustatius and Saba experienced a significant increase in purchasing power in 2024, according to provisional figures released by Statistics Netherlands (CBS). Median purchasing power rose by 10.8 percent on St. Eustatius and 10.4 percent on Saba compared with the previous year. On Bonaire, the increase was 13.7 percent.
CBS estimates that around three-quarters of residents in the Caribbean Netherlands saw their purchasing power improve, largely due to higher minimum wages and increases in social benefits, including old-age pensions and income support. However, about one in four residents experienced a decline, mainly because of personal changes such as a different household composition or employment situation.
On St. Eustatius, households relying mainly on social benefits recorded a 17.1 percent increase in purchasing power, while the figure for Saba was 10.7 percent. Single-parent families benefited the most, with purchasing power rising by 18.4 percent on St. Eustatius and 15.9 percent on Saba. Young households and lower-income families also saw above-average gains.
Government measures
According to CBS, the government measures introduced since 2023 to strengthen economic security, including repeated increases in the statutory minimum wage and social benefits, were the main drivers behind the improved purchasing power.
