The Daily Herald
August 7, 2001
PHIIIPSBURG - Reacting to the Economic Report 1999-2000 issued by the Department of Economic Policy & Research
(DEPR) last week, the Sint Maarten Hospitality and Trade Association said conclusions that the island was experiencing
growth in 2000 compared to 1999 are not backed by the available data. Nor are they relevant for today's situation.
Data relating to the first six month of this year show no reason to speak of growth.
Careful not to be accused of supporting gloom and doom thinking, the SHTA states that it insists on accurate and
relevant analysis. Its reaction appears to be more in tune with the general concern about the economy voiced by
business leaders on the island than the relatively optimistic analysis of DEPR.
Incorrect
The SHTA notes that DEPR's report mentions "regional developments in the industry have contracted by a whopping
18% in the Caribbean, whereas, stay over in St. Maarten has merely contracted by a modest 2.8%, again reflecting
the resilience and demand for our industry."
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- Philipsburg, St. Maarten