S&P changes Aruba outlook to positive

S&P said it changed its outlook on Aruba to positive from stable and affirmed its BBB ratings.

“On the back of several years of strong economic growth, Aruba's economy will, we expect, continue to expand over the next several years at a more moderate pace. We forecast that tourism exports will continue to increase over the next several years, including the full rebound of cruise tourism, which we anticipate will surpass 2019 numbers in 2024. Stay-over visitor arrivals reached 111% of 2019 levels in 2023, while cruise visitor arrivals reached 98%,” the agency said in a press release.

S&P said there is a one-in-three chance it could upgrade Aruba’s ratings within the next two years.

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