Curaçao Tourist Board - Annual Report 2016

CURAÇAO TOURIST BOARD ANNUAL REPORT 2016

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ANNUAL REPORT 2016

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TABLE OF CONTENTS

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CURAÇAO TOURISM PERFORMANCE

INTRODUCTORY REMARKS

CORPORATE INFORMATION

PAGE 6

PAGE 8

PAGE 12

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05

06

MARKETING ACTIVITIES

PRODUCT DEVELOPMENT ACTIVITIES

INCOME STATEMENT

PAGE 16

PAGE 24

PAGE 28

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CURAÇAO TOURISM PERFORMANCE ARRIVALS

2016

441,331

2015

467,538

OVERALL STAY-OVER NIGHTS

2016

3,605,350

2015

3,821,671

TOP THREE MARKETS

2016

TOP CHOICE

ACCOMODATIONS

DAILY SPENDING BY TOURISTS

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2016

THE NETHERLANDS

35.6%

UNITED STATES

VENEZUELA

13.7%

Alternative accommodations Large Hotels Small Hotels Bungalows

13.5%

44.1% 26.0% 11.9% 18.0%

UNITED STATES

THE NETHERLANDS

$201.97

$117.37

VENEZUELA

OVERALL AVERAGE

2016

2015

2015

THE NETHERLANDS

32%

UNITED STATES

VENEZUELA

19.7%

Alternative accommodations Large Hotels Small Hotels Bungalows

13.2%

42% 29% 13% 16%

UNITED STATES

THE NETHERLANDS

$202.48

$117.44

VENEZUELA

OVERALL AVERAGE

2015

$117.95

$140.55

$118.11

$146.49

2016

464,652

2016

DIRECT INDIRECT TOTAL

10,496 15,233 25,729

ECONOMIC IMPACT

2016

DIRECT INDIRECT TOTAL

$ 508,141,000 $ 323,451,000 $ 831,592,000

TOURISM’S SHARE IN ECONOMY

2016

19.6% of GDP

CRUISE VISITORS

NUMBER OF JOBS CREATED

2015

528,090

2015

DIRECT INDIRECT TOTAL

2015

DIRECT INDIRECT TOTAL

2015

20.4% of GDP

11,190 16,174 27,364

$ 533,940,224 $ 437,692,945 $ 971,633,169

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INTRODUCTORY REMARKS

INTRODUCTORY REMARKS BOARD OF DIRECTORS

The Board has experienced a productive year during 2016. In fact, the Board met on at least 12 occassions to discuss, process and approve some key strategic projects and programmes. It authorized the appointment of a Project Manager to start with the implementation of the Tourism Master Plan (TMP) 2015-2020. The Board also approved the Curaรงao Tourist Board (CTB). Business plan 2016 in line with the recommendations of the TMP to jointly with the government and the private sector assure an orderly execution with a well-defined focus to achieve the targets mentioned.

Noteworthy to mention that two members have joined the Board in 2016, namely Mr. Rudy Eleonora (Secretary/Vice President) and Mr. Errol Fa Si Oen, while Mr. Merill Sulvaran has left the Board.

The Board has also instituted the audit committee with oversight responsibility. As a result of withdrawal of the nominated Executive Director, the Board has started preparing for the recruitment and selection of a new Executive Director for the CTB. In order to advance the plans of restructuring the tourism office, the Board, along with the Deputy Director travelled to Aruba to get more insight into the functioning of the Aruba Tourism Authority. With respect to labour matters of the CTB office, the Board extended the Collective Labour Agreement (CAO) for the CTB personnel for a year.

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CTB had various fruitful conversations with International partners in the field of tourism and hospitality that was of added value in our efforts to significantly increase visitor arrivals in 2016. Namely, in marketing matters, the Board discussed various key themes that were instrumental in increasing visitor arrivals, a. namely the increase of Jetblue flights from New York, b. as a result of a cancellation of the Curaรงao North Sea Jazz Festival, the Board evaluated alternative options such as to structurally support a music festival, and c. assessed the repercussions of the Insel Air demise and of a loan of 33 million guilders to guarantee air connection between the ABC islands and Sint Maarten. In regards to financial affairs, the Board has approved for the SBAB to investigate the size and amount of apartments that do not comply with room tax payment.

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HUGO CLARINDA

INTRODUCTORY REMARKS DEPUTY DIRECTOR The year 2016 was indeed a challenging yet remarkable period. For one, under the guidance of a project manager, CTB started with the implementation of the Tourism Master Plan 2015-2020, despite limited funds to its disposal.

Coupled with the above, the industry had to cope with some gloomy challenges, in particular the decline of the Venezuelan market along with the ensuing upsetting effects in several origin markets. However, along with the government, i.e. the Ministry of Economic Development, the Ministry of Finance and the CTB started restructuring the funds that accrue for both promotional purposes and upgrading of our tourism product.

We can also boost that we have achieved enhanced co-ordination of our quarterly reporting efforts to the general public with the Ministry of Economic Development, CHATA and CPA. The extensive coverage by the local media are a testament to this effort. The CTB continues to pursue a healthier development of the tourism industry, since the opportunities for a sustainable growth are in existence, provided we work together and swiftly execute potential imminent projects towards a sustainable economic progress of the island.

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THE LOCAL TEAM THAT MADE 2016 POSSIBLE

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CORPORATE INFORMATION

THE THREE-TIERED VISION DESTINATION VISION As the most diverse, safe and distinctive destination in the Caribbean, Curaçao aims to develop sustainable tourism. Reflecting the island country’s unique heritage and traditional hospitality, this must benefit all involved in a socio-cultural, environmental and economic sense.

ORGANIZATIONAL VISION To be the driving force for sustainable growth and development in tourism by aligning public and private institutions with each other to achieve optimal planning, promotion and management results.

THE BRAND VISION A distinctive and captivating island that offers one of a kind, memorable experiences centered around our beautiful people and culture, heartfelt hospitality, music, art and entertainment for all types of visitors against a spectacular backdrop of rich history, Dutch colonial architecture, cultural diversity, shopping, nature, beaches, water sports, diving, golf and cuisine with flavors from around the world.

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BOARD

INTERNAL AUDITOR

THE ORGANIZATIONAL MISSION Together developing a ‘Dushi Kòrsou’ Huntu desaroyando un Dushi Kòrsou.

MANAGEMENT CEO DEPUTY DIRECTOR

STRATEGY DEVELOPMENT & PLANNING

COMPANY STRUCTURE The Curaçao Tourism Development Foundation (popularly known as the Curaçao Tourist Bureau, (CTB)) was founded in 1989 and is funded by the government of Curaçao. It is presided by a Supervisory Board, consisting of seven members, including a chairman appointed by the Minister of Economic Affairs of Curaçao.

EXECUTIVE ASSISTANT

PRODUCT DEVELOPMENT

FINANCE

GENERAL AFFAIRS

MARKETING

HUMAN RESOURCES

LEGAL

The organization is managed by the Deputy Director under the articles of association. The bylaws of the Foundation were amended in 2012.

MARKETING & RESEARCH

CTB OPERATES WITH DEPARTMENTS FOR: Strategy Development & Planning

Finance

Product Development

Marketing

MARKETING NORTH AMERICA

MARKETING EUROPE

MARKETING CARIBBEAN

MARKETING SOUTH AMERICA

COMMUNICATION

DIGITAL MARKETING

FACILITY

MARKETING ADVISOR

General Affairs

THE CORE VALUES OF THE ORGANIZATION To be the leader in focusing on the targets and recommendations as indicated in the Tourism Master Plan 2015-2020.

To be a facilitator for creating sustainable well-being for the tourism community on Curaçao.

A promoter of inclusiveness by stimulating a wide range of participants in the development of tourism.

To focus on the use of relevant information in decision making.

To be a forward-looking and analytical organization to enable timely adjustments.

To be flexible, innovative and proactive in decision making to effectively accommodate changes and capitalize on opportunities.

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STRATEGIC TOURISM MASTER PLAN Governing structure Tourism Master Plan 2015-2020. The implementation of the Tourism Master Plan has started. A steering committee with strategic oversight of the implementation of the Tourism Master Plan 2015-2020 has been installed. This committee also coordinates the work of four additional committees, namely: Airlift, Marketing, Funding and Product Development.

OVERALL OBJECTIVES, SET FORTH IN THE TOURISM MASTER PLAN 2015 – 2020, ARE:

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1. Refocus the current demand structure towards the American market.

This is imperative in order for Curaçao’s RevPAR value to increase to a level that creates economic and job growth.

2. Increase the island’s’ airlift to effectively compete with other destinations in the region.

As arrivals increase due to increased accessibility to Curaçao and presuming that the hotel room supply is inelastic (the number of rooms is fixed), hotel prices will increase.

3. Place a well-defined emphasis on the enhancement of Curaçao’s human capital.

Improving the quality of human capital is the core requirement of tourism’s soft component. This objective ties in very well with the first objective which in essence will impact economic growth and job creation.

4. Secure sustainable funding.

In pursuing the required arrivals during the five year period, to increase the RevPAR value to the level of the Caribbean region by 2020 (US$128/ US$130), a sustainable fund should be secured. The proposed amount for the implementation of the Tourism Master Plan over a five year period is US$40 million.

5. Development of capital city into a vibrant rendezvous location.

Due to its importance as a prime attraction and also an experiential product offer for both stay-over tourists and cruise visitors, it is advised as a mid-term goal to transform the UNESCO World Heritage site, Punda and Otrobanda, into a vibrant rendezvous area for tourists.

6. Eastpoint development.

A more long-term objective is to develop the Eastpoint area.

Due to its pristine structure, this area could complement and champion the islands’ existing sustainability efforts and programs. Corresponding with this objective, it is recommended to broaden Eastpoint’s prevailing audit system significantly to include more categories such as energy, water efficiency, sustainable purchasing, waste management and the health and comfort of visitors.

THE SECTOR AND PARTNERSHIPS We are pleased to work with close strategic partners, including our main partners: The Ministry of Economic Development (MEO)

Curaçao Hospitality and Tourism Association (CHATA)

Curaçao Airport Partners (CAP)

Curaçao Airport Holding (CAH)

Curaçao Ports Authority (CPA)

CINEX

CTB would, in a wider context, gladly work and cooperate with all stakeholders within the travel chain, such as tourism related trade associations, travel agents and tour operators, hotels and airlines, taxi’s, restaurants, attractions and investors.

CTB also does its utmost to maintain a solid relationship with stakeholders who might not be involved with the industry on a daily basis, such as the media, consuls and other representatives of foreign countries, wholesalers, event organizers, trade unions and government ministries and departments.

As CTB and CHATA meet on a regular basis and most partners in hospitality are CHATA members, it’s safe to say that the communication within the sector is consistent. Moreover, CTB and CHATA meet with the industry players in bi-annual retreats, where strategies are developed.

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MARKETING ACTIVITIES

During 2016, specific attention was devoted to the objectives, strategies and actions of the CTB destination marketing, as outlined in the Tourism Master Plan 2015 – 2020 (TMP). The TMP prescribes a refocus of the island’s efforts on the American market for the period ahead, including an expenditure pattern that is more apt to spur economic growth for the island. Consequently, this shift will allow for a stronger economic relationship between tourism expansion, economic growth and job creation. Thus visualizing that tourism is good for all. However, this does not mean that the CTB and its partners will abandon the current efforts for the Dutch and South American markets. On the contrary, maintaining the strong brand recognition that Curaçao already possesses in the Dutch and South American markets, the island needs to optimize the demand performance in the US market, with its propensity and preference for leisure travel to the Caribbean. Strengthening the Curaçao brand in particular the United States market, is imperative. The TMP states that tactical marketing activities must be developed jointly with key stakeholders and that these must be based on image identity, branding and positioning.

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The CTB developed a positioning statement together with sector representatives which reads as follows: Positioning Statement: “We are a unique blend of beautiful people living, loving and sharing our island life” This statement will be crucial and central in our marketing efforts for the coming years and is the framework for our destination marketing.

MARKETING IN 2016 2016 started off with very positive numbers. The European market continued to grow throughout the year, as did the Colombian and the Brazilian market. But the second quarter showed a decline in arrivals.

Venezuela started showing big decreases, while the USA slowed down and underperformed during the remainder of the year.

AMBASSADOR MARTINA CTB signed a Curaçao Ambassador Agreement in October with the island’s internationally successful, professional athlete Churandy Martina. This allows the CTB to use Churandy Martina’s name, image or person for branding and other marketing purposes worldwide.

NORTH AMERICA In 2016, both the US and the Canadian market underdelivered, compared to the previous year, with a 5% decrease or 3,474 fewer visitors. Unforseen factors played a role in this, despite many achievements nevertheless.

SWINGING IN NEW YORK CTB North America scored well at the New York Times Travel Show with a virtual experience of the Queen Emma bridge, also known as the ‘Swinging Old Lady’. A replica of the bridge let visitors experience Curaçao and the CTB won the award for the most creative booth.

A Batido (fruit shake) Truck in the district of Flatiron and at the Union Square piqued the curiosity of many for Curaçao. This was a succesful road show by the CTB, the Curaçao Airport Partners (CAP) and the Curaçao Hospitality & Tourism Association (CHATA).

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BUSSING IN TORONTO The Canadian market had a decrease of 3%, or 551 visitors, in comparison with the previous year. With five weekly non-stop flights from both Toronto and Montreal to Curaçao, Canada continues to be one of Curaçao’s core markets.The CTB and Air Canada Vacations held a campaign on 75 busses in the area of Toronto, promoting direct flights with Air Canada from Toronto to Curaçao. Aiming for growth, CTB teamed up with in-market wholesale partners Air Canada Vacations, Sunwing Vacations, Travelbrands and private sector partners to organize the annual Canada Road Show.

Several private sector tourism partners in Curaçao joined in. #RIGHTNOWINCURAÇAO The Curaçao team hosted several trade seminars in Pointe-Claire, Waterloo, Oakville and Toronto to keep the island on the radars of the best-selling travel agents for the winter season and beyond. CTB also hosted the Toronto Travel Massive, that attracted over 80 top travel agents, tour operators and other influential industry professionals, including media from key consumer publications. A #RightNowInCuraçao social media contest reaped over 997,000 impressions on Twitter and Instagram.

SOUTH AMERICA Both the Colombian and the Brazilian market increased, while the Venezuelan market decreased, compared to the previous year. Colombia grew with 6%, or 809 more visitors. Brazil grew with 9%, or 925 more visitors, despite some national economic issues. Turbulence in the Venezuelan market, because of political and economic instability, resulted in a huge drop of 36%, or 34,345 fewer visitors.

VITRINA TURISTIKA The Asociación Colombiana de Agencias de Viajes y Turismo (ANATO) organized the leading industry event Vitrina Turística ANATO, showcasing Airport Services, Hotel Equipment, Recreation Centers and also VIP and Luxury Tourism. The CTB and CHATA were accompanied by Miss Universe Curaçao 2015 Kanisha Sluis and CHATA Members.

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‘GRACIAS COLOMBIA’ The CTB representative Victor Dapena thanked various press members and media outlets for their support with a luncheon. He was joined by Muryad de Bruin, CTB’s South America Marketing Manager. Third quarter activities in Colombia featured co-ops with Avianca and Copa Airlines, branding activities online and sales packages in print. CTB Colombia also hosted a cultural and culinary exchange in Baranquilla in collaboration with Munditur and Insel Air, featuring the internationally renowned Chef Broertje Marshall, spotlighting Curaçao’s cuisine.

JULIANA ALVES Recently signed as the face of Curaçao in Brazil, the popular actress Juliana Alves drew lots of attention as the host in Curaçao’s ‘camarote’ (cabin) during the carnival of Rio de Janeiro. Her natural beauty played a part in this but also her being the year’s first runner up in the competition for the ‘Rainha de Bateria’. This is comparable with the position of the Queen of Carnival as in Curaçao but includes extensive samba dancing.

NEW AGE ROAD SHOW Agents in Uberlandia, Uberaba, Franca and in Ribeirao Preto received specific pointers to improve their Curaçao pitch in a ‘New Age Road Show’. These were four days of extensive workshops, with more than 250 participants from over 100 travel agents. Twist & Shout, CTB’s advertisement agency, and Spring, CTB’s PR-agency for the Brazilian market, hosted the tour operators CVC, Flytour Viagens, New Age and Orinter & Sanchat at the Figueira Rubaiyat restaurant in São Paulo.

Also in attendance were InselAir, Avianca, Copa Airlines and Double Task, Curaçao’s representation in Brazil. There, Toni Sando, the president of the São Paulo Convention & Visitors Bureau, recognized the partnership between Curaçao and his organization, highlighting the success of Curaçao’s publicity campaigns during 2016.

VENEZUELAN CONSTRAINTS Given the political and economic constraints in Venezuela and thus the reduction in overall budget for 2016, most activities were executed in collaboration with main market partners such as Corporación Salta and Avior Airlines. Promotional packages to push summer vacations in August and the Curaçao North Sea Jazz Festival in September, targeted the higher tier of the market.

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EUROPE The 157,287 visitors counted from the Netherlands – a growth of 3%, or 4581 more visitors, compared to 2015 – surpassed the target set in the Business Plan 2016 of 155.770 visitor arrivals. The increase of 863 arrivals from Germany meant a growth of 4%.

DUIKVAKER The interest for Curaçao was high at the 24th edition of the ‘Duikvaker’, the annual expo for diving and snorkeling aficionados in Houten, the Netherlands. For two days, 10,000 persons visited three exhibition halls to learn about the latest in snorkeling equipment, trends, destinations and that Curaçao has a lot to offer, with more than 65 diving sites – each one unique and with its own beauty and variety of colors. The third quarter of the year focused mainly on sales activation, mainly regarding co-op plans with KLM, TUI, Corendon and Kras. The PR-efforts announced upcoming music, culinary and sports events such as the Curaçao North Sea Jazz Festival, Flavors, the Strongmen competition, KLM Marathon and the MCB Golf Tournament. Passengers travelling to Curaçao where helped at Schiphol Airport when applying for the ED Card online.

‘BOOT DÜSSELDORF’ CTB participated at the 47th edition of the International Boat Show Düsseldorf (‘Boot Düsseldorf’) with various partners in the tourism sector. 247,000 visitors from 52 countries visited this nine day fair. CTB promoted the island as a diving destination for tourists looking for excitement exploring unique corals, types of fish, reef, hidden caves and sunken ships.

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IT BERLIN The Internationale Tourismus Börse (ITB) in Messe, Berlin, was another tourism fair that the CTB participated in. It is the largest trade fair in its kind, hosting 120,000 trade visitors and about 50,000 visitors annually. The Curaçao team targeted tourism executives and private sector partners, positioning Curaçao as an island that welcomes business opportunities. Marketing activities involved the co-op plan with AirBerlin. CTB sourced a marketing agency thru an agency pitch to find a matching partner to roll out an adaptation of the ‘Right Now in Curaçao’ campaign in the German market during the fourth quarter of the year, emphasizing upcoming music, culinary and sports events.

CARIBBEAN Both the Aruban and the Surinamese markets decreased, compared to 2015. Aruba dropped with 4%, or 575 fewer visitors, while Surinam dropped drastically with 19%, or 2234 fewer visitors.

DRAG RACE The CTB and Fundashon Autosport Curaçao (FAC) got together with the media and drag race fans in Aruba, inviting drivers, their crews and their families to the Curaçao International Drag Fest 2016. It was the 45th year of drag racing in Curaçao and the 20th year of the Curaçao International Raceway. The CTB support, for specific activities like these, emphasize that tourism is for all.

ALL THAT JAZZ & KANISHA CTB and the promotional team of the Curaçao North Sea Jazz Festival visited Surinam to woe the public for the seventh edition of this international event. Several artists scheduled for the festival performed for the press, travel agents and special guests. Miss Universe Curaçao 2015, Kanisha Sluis had a meet and greet session with more than 150 participants including the press, travel agents, tour operators, airline representatives and others.

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DIGITAL MARKETING The Digital Marketing Department reached its goals for 2016. These included: making Curaçao.com the center point for all inquiries about vacation and experiences in Curaçao, integrating Social and Content marketing with other marketing activities to achieve higher brand awareness and also increasing and expanding digital marketing programs to improve the online media’s influence. The resulting numbers speak for themselves: Curaçao.com received 1,603,112 websessions – 400.000 above the set goal. On average, three pages were visited per session. The introduction in August of PressPage led to an extra 10% of referral web traffic. PressPage provides content sharing platform technology for social newsrooms, virtual press centers and online media hubs. Hootsuite Social Media platform monitor and editor were also implemented, assisting the CTB in discovering published stories, monitoring brand mentions and centralizing posts publishings. A total of 15 million followers has been reached on Facebook. The related 7% engagement rate means visibility increase and loyalty improvement for the Curaçao brand.

MARKETING UPDATE The CTB gears its Corporate PR and Communications towards keeping its tourism partners, stakeholders and the general public up-to-date on how the product Curaçao is doing. This led to the launch of CTB’s first ‘Marketing Update’, reporting about the most meaningful executed or upcoming actions in markets of focus. The ‘Marketing Update’ summarizes actions like ad campaigns, PR results, market activation and so on. This report forebeams upcoming events for the next quarter too, thus keeping everybody alert.

EXTENSIVE MEDIA COVERAGE Television programs with their colorful liveliness, are an attractive means too, for presenting a broad public with exciting images and sounds of ongoing activities and special events. CTB produced 14 of these programs in 2016, to highlight the many successful projects during the year. That nice number is indicative of the energy that CTB’s communication department puts in showcasing all hard work. From January to December, the communication production in 2016 resulted in 82 press releases, 67 front page mentionings and more than three quarters of a million guilders – ANG 757,623.60 to be exact – in unpaid media publicity.

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MARKETING RESEARCH In 2016, Quarterly Reports proved once again to be a fast and factual way to inform about Curaçao’s touristic performance. Key figures like arrival numbers, hotel occupancy and the impact of the tourism sector on the national economy give a view of noteworthy developments.

Bringing results more to live, CTB teamed up with the Ministry of Economic Development and with the Curaçao Hotel and Tourism Association at press conferences.

This gives more options to present data and makes it possible to interact with the media, who is an effective channel for communicating with the general public.

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PRODUCT DEVELOPMENT ACTIVITIES

In time, the Product Development activities will need to shift its focus towards supporting the alignment between demand and supply, thus becoming a business intelligence tool that assists in the creation of innovative and high-quality offerings. As a result, the main measure of success for the Product Development activities in CTB’s altered structure will be the quality of the tourist experience that will ultimately contribute to economic growth.

This is reflected in its tasks for 2016, through such tools and initiatives like an audit of the quality of the destination experience and tourist satisfaction surveys. Equally, three fundamental needs for the product’s soft component are accentuated in the Tourism Masterplan, namely: maintaining a satisfactory service level, together with the education sector develop competencies on language and communication, and develop skills on service and professionalism to help eliminate the lack of adequate service-oriented skills This has been mirrored in the objectives, strategies and KPI’s of the department in order to secure a high quality of the human capital in the tourism sector and to encourage the local community to see tourism development as a way to enhance their quality of life.

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CLEAN, ATTRACTIVE AND ENJOYABLE Before the CTB can market our island – the product – has to be excellent. Curaçao has to be clean, attractive and enjoyable. Projects and activities realized in 2016 for this purpose, are: ‘UNIEK CURAÇAO’ The goal of the ‘Zorgcontract Uniek Curaçao’ is to improve the island’s natural attractions with the aim to make tourist trips more enjoyable. Additionally, for the maintenance of our natural attractions, CTB agreed with Uniek Curaçao on April 29th, 2016 that they will have the responsibility to keep the island’s natural attractions clean.

SIMAN SANTU ‘Operashon Siman Santu’ took place in the week of March 23rd – March 28th 2016.

The objectives for this operation were: increase security and enjoyment for tourists during this holiday week. 15 organizations – from sectors ranging from public to private, emergency to nature care collaborated in this operation. Several public beaches received security, portable toilets and cleaning services. CTB also installed or fixed several signs, warning about diving dangers. This year was the first time that CTB introduced the ‘Piket’ system. During the ‘Operashon Siman Santu’ two employees of the Product Development department were available from 8:00 AM till 6:00 PM.

AUDIT CTB introduced a certification program for a variety of tourist products, such as apartments, taxi’s, tour busses and dive shops. This certification program is an incentive for the industry, recognizing and promoting high quality levels of accommodation services. The Curaçao Innovation & Technology Institute (CiTi) does the auditing. Up to now CiTi audited 24 apartments. The companies that pass the audit successfully receive a plaque and are listed on CTB's corporate website curacao.com. Certification proves that ‘tourism for all’ can be achieved without loss of quality.

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SAFETY & SECURITY The Safety & Security Action plan unites the CTB with other stakeholders to secure the safety of visitors and locals, to improve the livability of natural (touristic) attractions and to increase the security at our beaches. This plan started in October 2016 and features a new GPS-tracking device for tourists T-Buddy, an upcoming collaboration between Politur (Curaçao) and the Cuerpo Especializado de Seguridad Turística (the Dominican Republic), training by the Clearwater Police Department of Miami, Florida (US) and Politur patrols at the Curaçao World Trade Center and at the Sambil shopping mall.

PRODUCT DEVELOPMENT SERVICES During 2016 various Familiarization and Press (FAM) trips from various markets visited Curaçao. They conduct site inspections on hotels, resorts and touristic attractions. The FAM trip visitors learn about the product and recommend it to their customers.

The four markets that CTB works with are: Europe, North America, the Caribbean and South America.

COMPLAINTS The main goal of collecting complaints is to have an overall view of how many incidents happen per month, who the victims of these incidents are, when and where these incidents occur and what personal belongings are stolen. The CTB deals directly with tourist’s claims and helps the victims to resolve their problems, so that they can feel being helped and that they are cared for. The CTB handled 28 cases in 2016.

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In 2015, the CTB was commissioned with developing the Marie Pampoen recreational area. After all the required permits had been secured, construction work at Marie Pampoen officially started in September 2016. These activities are part of the master plan for the overall development of Marie Pampoen. The development of the first phase, that was completed in 2016, includes a parking area, a beach strip (that is nearing completion), two palapas, barbecue and picnic facilities, a walking and jogging path, vegetation for shade and landscaping and also illumination and modifications for the sidewalk at the Dr. M.L. King Boulevard.

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INCOME STATEMENT

REVENUES

NOTES

2016

2015

Revenue from Government (Grant)

9

20,097,600

20,097,600

Revenue room and tourism sales tax collection

9

21,985,604

16,422,769

Revenue from Government Tourism Master Plan

9

--

300,000

176,681

103,397

42,259,885

36,923,766

Other revenue

10

EXPENSES PAYROLL AND OPERATING EXPENSES Personnel expenses

11

5,845,452

6,345,016

Supervisory Board expenses

19

203,362

--

Operating expenses

12

1,568,083

1,592,340

Currency exchange rate difference

17

128,509

(382,200)

5

167,251

179,708

7,912,657

7,734,864

15,321,848

21,218,344

--

29,780

426,098

284,331

Depreciation

SALES AND MARKETING EXPENSES

13

OTHER TOURISM PROJECTS Cruise tourism Market research Third party initiative contributions

14

1,137,785

1,002,696

Product Development

15

1,621,726

2,267,033

Strategic Tourism Management

16

13,975,634

3,976,237

17,161,243

7,560,077

1,864,138

410,481

158,440

196,821

PROFIT (LOSS) FOR THE YEAR

1,705,697

213,660

COMPREHENSIVE INCOME (LOSS) FOR THE YEAR

1,705,697

213,660

OPERATING PROFIT ( LOSS) Financing costs – net

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NOTES

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