Bonaire
Fastest-growing BES island economy since 2013, driven by dive tourism and Dutch structural subsidies at 60-70% European income levels.
Bonaire's economy has grown more than any other Caribbean Netherlands island since 2013, driven by tourism's sustained expansion. As a special municipality of the Netherlands since 2010 (dissolution of the Netherlands Antilles), Bonaire uses the US dollar and receives structural subsidies that maintain living standards—median disposable income reaches 60-70% of European Netherlands levels despite high import costs. The island demonstrates what happens when small-island tourism dependency intersects with metropolitan government: prosperity derived from visitor spending and transfer payments rather than productive diversification. Cruise passenger numbers recovered toward pre-COVID levels by 2023 after pandemic devastation, though Bonaire emphasizes dive tourism and ecological preservation over mass cruise arrivals. The 10% inflation peak in 2022 (highest among BES islands) reflected global commodity prices, supply chain disruptions, and the Ukraine war's energy effects. Unlike Sint Eustatius's oil-dependent volatility, Bonaire's tourism base provides more stable—if still externally dependent—revenue. The island's marine protected areas and diving reputation represent deliberate niche construction: environmental quality as competitive advantage. This positions Bonaire differently from Curaçao's refinery economy or Sint Maarten's cruise mass-market, demonstrating how small territories can differentiate within regional tourism competition.