Suffice to say is that, though its contribution has declined over the past 20 years, the international financial services sector remains a key economic pillar of Curaçao. The IFS sector generates about 6% of foreign exchange earnings, provides labor intensive high-skilled employment to more than 1,000 persons, and contributes approximately 6% of GDP.
In addition to these direct effects, the sector has indirect spillover effects across related industries, including the business, telecommunication, transportation, and hospitality sectors. Amid the increased complexity of financial transactions, it has become imperative for financial intermediaries such as international banks, to keep re-inventing themselves through new and innovative products and services.