Financial Struggles in Caribbean Netherlands: A Closer Look

In 2021, a significant portion of the population aged 15 and older in Bonaire and Saba, around 20 percent, faced challenges in meeting their financial needs. St Eustatius, however, saw an even higher proportion, with over 30 percent experiencing similar difficulties. Comparing to 2017, Saba witnessed a notable decrease from 36 percent to 20 percent.

Around 15 percent of the populace across these islands found monthly housing costs to be a major financial burden in 2021. Although this was higher in 2017 for Saba and Bonaire, St Eustatius remained unchanged.

The level of education significantly impacted financial difficulties. On St Eustatius, individuals with lower education levels were nearly twice as likely (40 percent) to face challenges compared to the highly educated (20 percent). Bonaire exhibited almost three times the hardship among those with lower education (29 percent) compared to medium or higher education (10 percent). However, no disparity was observed on Saba.

Nearly 70 percent of the population on these islands struggled to afford specific expenses. This ranged from daily meals with meat, chicken, or fish (lowest on Bonaire at 10 percent) to necessary unexpected costs (highest on St Eustatius at 60 percent). Approximately half couldn’t replace worn-out furniture, and about 45 percent couldn’t afford a one-week holiday annually.

Island-specific disparities existed, such as the inability to buy new clothes regularly (ranging from 15 percent on Saba to 45 percent on Bonaire) and inviting family or friends for dinner monthly (over 25 percent on Saba and over 35 percent on St Eustatius).

Concerns about the financial future were prevalent, particularly on St Eustatius, where nearly 60 percent expressed worry. Bonaire and Saba showed concerns around 45 percent, with heightened concern among those with low to medium education levels. On Bonaire, individuals aged 15-45 expressed more worry (50 percent) compared to those aged 45 and above. Notably, women on Saba (51 percent) were more concerned than men (38 percent).

Source: Publication – The Caribbean Netherlands in Numbers 2023 https://longreads.cbs.nl/the-caribbean-netherlands-in-numbers-2023/what-percentage-of-the-population-has-difficulty-making-ends-meet/

Survey Description – Omnibus Survey https://www.cbs.nl/en-gb/participants-survey/people/overview/omnibus-survey

Relevant Link: Publication – The Caribbean Netherlands in Numbers 2023 https://longreads.cbs.nl/the-caribbean-netherlands-in-numbers-2023

Explanation: Concerns about the Financial Future The level of concern was gauged using a scale of 1 to 10 regarding their financial future, with scores from 7 to 10 categorized as ‘many concerns,’ 5 and 6 as ‘few concerns,’ and 1 to 4 as ‘no concerns.’