IEDOM: a fragile economy with encouraging signs

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Yesterday, at the CCISM, the Emission Institute for Overseas Departments (IEDOM) presented its annual report "2014 edition" for Saint-Martin, in particular to the press and representatives of the Collectivity and the State . This document unsurprisingly shows that economic activity remains fragile, despite good figures in the tourism sector.   

 After a topo on the world economy by the director of IEDOM Guadeloupe / Iles du Nord Jean-Marie Paugam, an assessment of the island's economic activity for 2014 was drawn up by the head of the studies department Bérangère Callamand . According to the institute's analyzes, “the economy is still dependent on tourism and the construction industry. In 2014, the economic context was still fragile, despite encouraging signs, especially towards the end of the year. The disparities between the two parts of the island persist and the impacts on the French part remain significant, "she said. Regarding tourism, it remains a "pillar of the economy" and "the second employer of the island". In 2014, attendance on the island also broke a new record with 2,6 million visitors. Tourism activity continued to recover, according to the institute, particularly in terms of hotel attendance. The major issue of the territory remains "the imbalance between high and low season". Despite good momentum at the end of 2014, "these results are insufficient".

2015: an encouraging year

Jean-Marie Paugam noted that 2015 is "oriented on the same trend as the last quarter of 2014". The euro / dollar parity, the recovery of employment in the United States, the 2015-2020 plan contract and local reforms are favorable points for the activity of the territory, according to him. For the first half of 2015, tourist frequentation is confirmed, notably with an increase in the number of cruise passengers.

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