How is Aruba's economic development?

Before independence, Aruba's economy mainly relied on the oil refining industry, and American petrochemical companies invested heavily here. Due to declining profits and aging equipment, the Americans sold their assets, and the oil refining industry has plummeted since then. In order to survive, Aruba has vigorously expanded its tourism industry and achieved remarkable results. Although Aruba is small, it is uniquely endowed: it is located outside the range of Atlantic hurricanes, has abundant sunshine, low rainfall, and a beautiful coastline, which are favorable factors for the development of tourism; political stability, good public security, and simple folk customs are another favorable factor for the development of tourism. A condition to attract tourists. Starting from the capital Oranjestad, the entire southwest coastline has been developed as a tourist area, and various high-end hotels and resorts have been built, all of which are beautiful and cater to the tastes of high-end consumers. Aruba's tourism industry is unique. Unlike its counterparts in Mexico and Cuba, it only knows how to attract tourists with low prices and compete viciously, and it operates successfully.