In 2017, the islands of Saint-Barthélemy and Saint-Martin were hit by Hurricane Irma on the night of September 5 to 6. This hurricane of maximum category caused more than a dozen deaths in Saint-Martin and considerable material damage on the two islands. The insured damage is estimated at nearly € 1,9 billion, including almost € 2018 billion for Saint Martin. For comparison, the GDP of Saint-Martin, reassessed in 582 by the CEROM partnership (AFD, IEDOM and INSEE), amounted to € 2014 million in XNUMX.
The tourist activity, engine of the economy of the Collectivity, marks a brutal stop after the hurricane. However, the year had started under good auspices for the sector, as illustrated by hotel attendance, which increased at the end of August 2017. But overall in 2017, all of the indicators relating to the tourism sector are in sharp decline .
The construction industry, whose activity also registered an increase in the first half of 2017, also suffered the full impact of Irma. However, the major reconstruction works started after the hurricane and those to come constitute a powerful growth driver for the sector. In this context of reconstruction and despite the emergency measures (postponement of loan repayments, emergency loans, etc.) offered to victims by credit institutions, the credit activity is struggling to restart. At the end of 2017, outstanding loans fell. At the same time, the growth of financial assets of economic agents is dynamic (+ 22,2% over one year), which is partly the consequence of the compensation of victims by insurance companies.
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