As of January 1, 2025, the minimum wage in Curaçao has been increased, with the hourly wage increasing from NAf 11.28 guilders to NAf 11.72. For a 40-hour workweek, this means a gross monthly salary of NAf 2029.90. This means an increase of 3.9%, which is in line with inflation and the rising cost of living. In Bonaire, the minimum wage already increased last year from USD 1,236 to USD 1,750 per month for a 40-hour workweek, which amounts to an hourly wage of USD 10.10. As of January 1, 2025, this amount has been increased again by 2.5 percent to a minimum hourly wage of USD 10.35.
Price increases on the islands
In recent years, the cost of living on the islands has increased significantly. Indexation means that the minimum wage is adjusted annually to the increase in the cost of living, expressed in the consumer price index. In Curaçao, the consumer price index increased by 3.9% in August 2024 compared to August 2023. The increase in the minimum wage aims to protect the most vulnerable groups in society against loss of purchasing power.
Challenges for employers
Raising the minimum wage poses challenges for employers in the private sector. Especially on Bonaire, where the minimum wage has increased significantly due to the sharply rising prices. In order to help employers meet the higher wage costs resulting from the increase in the minimum wage, employer premiums including health insurance have been reduced by 1.6% as of January 1, 2025. Compared to the rising costs, the compensation measures are lagging behind. Such shifts can result in temporary employment contracts not being extended or employers downsizing. Measures to stimulate purchasing power with employment law consequences should therefore always be viewed within a larger context.
About the authors
Nethania Hill
- Nethania Hillhttps://www.wildemanlegal.com/eng/author/nethaniahill/
- Nethania Hillhttps://www.wildemanlegal.com/eng/author/nethaniahill/20 May 2024
- Nethania Hillhttps://www.wildemanlegal.com/eng/author/nethaniahill/
- Nethania Hillhttps://www.wildemanlegal.com/eng/author/nethaniahill/3 August 2023
Didi Wildeman
- Didi Wildemanhttps://www.wildemanlegal.com/eng/author/didiwildeman/13 January 2025
- Didi Wildemanhttps://www.wildemanlegal.com/eng/author/didiwildeman/
- Didi Wildemanhttps://www.wildemanlegal.com/eng/author/didiwildeman/
- Didi Wildemanhttps://www.wildemanlegal.com/eng/author/didiwildeman/