When Sectors Fail to Self-Regulate, They Become the Problem

When Sectors Fail to Self-Regulate, They Become the Problem

June 27, 2026

It is Saturday morning. The temperature is already rising. Early today, I read the opinion article Toerisme is niet het probleem in the digital edition of the Antilliaans Dagblad.

The author argues that tourism itself is not the problem. According to him, the real issue lies in the way Curaçao has managed the growth of its tourism industry. He points to the absence of a coherent spatial and economic vision, insufficient government oversight, speculation in the housing market, and inadequate protection of nature and quality of life. In his view, the solution lies in better spatial planning, clear regulations, the protection of nature and public spaces, affordable housing for the local population, and a long-term vision for development.

To me, however, this argument comes rather late. It feels like closing the stable door after the horse has bolted. The Curaçao tourism development model has, to borrow from Mary Shelley, evolved into a kind of Frankenstein. What was once regarded as a solution has gradually become increasingly difficult to control. Tourism is therefore no longer merely an economic engine; it has also become a social and governance challenge.

The opinion piece also reminded me of earlier publications by the same author, in which he advocated creating more room for investment, particularly in the tourism sector. In my view, that would have been precisely the moment for the sector to insist on clear rules and self-regulation. Looking back, it may have been the right time to establish firmer conditions for sustainable growth. When a sector is unwilling to regulate itself, it ultimately runs the risk of becoming the problem.

In that respect, Curaçao's fintech sector makes a much better impression. In another article published in the same newspaper, the Curaçao Fintech Association (CFA) calls for the swift adoption of legislation regulating payment service providers. The sector appears to understand that sustainable growth is only possible when clear legal frameworks exist, public trust is safeguarded, and market participants know the rules under which they operate.

Perhaps that is the most important lesson from these two articles. Good governance is not solely the responsibility of government. Economic sectors also bear responsibility for their own legitimacy. A sector that resists every form of regulation while the economy is booming ultimately undermines the public support on which that very growth depends. Those who are unwilling to set limits for themselves in time run the risk of having those limits imposed by society. The capacity for self-regulation is therefore not a luxury, but a prerequisite for sustainable development.

Miguel Goede

References

Antilliaans Dagblad. (2026, June 27). Fintech-sector voert druk op. Willemstad.

Slier, H. (2026, June 27). Toerisme is niet het probleem [Opinie]. Antilliaans Dagblad.