Such strong tourism and real estate growth could mean ordinary people are forgotten. Two ministers are ensuring they are not
Marinka J. Gumbs and Patrice T. Gumbs, the ministers of finance and public housing, spatial planning, environment and infrastructure, explain their visions for Sint Maarten’s future. As the Caribbean’s most cosmopolitan island, Sint Maarten is known for its turquoise waters, rich cultural mosaic and dynamic tourism economy. But beneath its postcard-perfect surface lies a nation at a crossroads, grappling with fiscal reform and a pressing public housing shortage.
The government is embarking on a bold journey to restore financial stability, modernize infrastructure and make housing more accessible, all while promoting inclusive and sustainable development. Marinka J. Gumbs, the first female minister of finance since Sint Maarten achieved autonomy in 2010, stands at the helm of this transition. Her tenure marks a significant shift in tone. While there are no sweeping new financial policies slated for 2025, the minister is championing pragmatic reforms aimed at efficiency and transparency. “I want to streamline procedures,” she said. “I’m not trying to cut corners. I’m just trying to make it more efficient for everyone.” Her efforts paid off recently with the unanimous passage of a 2024 budget amendment — a first in Sint Maarten’s history. In a fragmented coalition landscape, such unanimity is rare, showing that across party lines, there’s recognition of the urgency and the direction needed. “These matters have to be passed so that our loans can be approved,” she stressed, pointing to the delicate balance between financial independence and loan-based development.
Currently, the backbone of Sint Maarten’s public revenue is taxation, primarily wage and turnover taxes. “That means the country is carried by its workforce,” the finance minister explained. “While I am grateful for every individual who is working and contributing to the budget, there has to come a time when they need some relief.” The sentiment resonates across the island, where the cost of living outpaces earnings. The minister has publicly called for reductions in both wage and profit taxes. “We are the highest within the region, at 34.5 percent,” she noted, advocating for a more equitable tax structure. “Let’s try and look at ways of reducing wage tax, of reducing profit tax… then increase our budget in a different capacity.” She also highlighted the financial strain on senior citizens. “They are not taxed on their social pension, but if there’s additional income, that is now compiled in one and the whole thing is being taxed. I don’t think that’s totally fair.” Her proposals suggest a shift from reactive budgeting to long-term fiscal planning, rooted in social equity.
Listening to the people: Finance Fridays
One of the most distinctive initiatives introduced under her leadership is Finance Fridays, a monthly open-door policy for constituents to share concerns. “These are people who elected our parliament whom appointed me to represent the people of this country,” she explained, adding that it’s only right that she make herself available to the people. The sessions have revealed a surprising range of issues, some unrelated to finance but indicative of broader social frustrations.
One tangible result was the creation of a voluntary savings plan for civil servants. “I’m giving civil servants the opportunity for a net take-home deduction, of between 50 and 200 guilders [$27-$111] per month,” she revealed. The idea, originating from two citizens, allows employees to accumulate savings, paid out in December. It’s a small but powerful example of participatory governance in action.
A nation of renters to become owners
While fiscal reform is vital, it is the affordable housing shortage that may define Sint Maarten’s future. Rapid tourism-driven development since the 1970s led to economic growth but also neglected the foundational needs of infrastructure and housing. “We failed to invest adequately in the infrastructure needed to support that growth,” admitted the Minister of Public Housing, Spatial Planning, Environment and Infrastructure (VROMI), Patrice T. Gumbs, “While tourism brought economic success, it came at a cost to the environment, the very asset attracting visitors.”
Public housing is currently managed by the Housing Foundation, but the minister sees this model as unsustainable. “I believe it’s not sustainable for the government to both build and manage social housing,” he said. Instead, his ministry is rolling out initiatives to enable access rather than control. Central to this vision is a Mortgage Guarantee Fund aimed at helping low-income and first-time buyers. “Many residents own land but lack the capital to develop it. This creates an opportunity for public-private partnerships,” he explained.
This shift in policy direction also opens the door for U.S. investors. “While most foreign investment, especially from Americans, goes into luxury condos or villas, Sint Maarten urgently needs housing for lower and middle-income residents,” the Minister said. With the new fund guaranteeing mortgages, the government aims to make these investments more attractive by reducing financial risk and ensuring returns. American firms with experience in modular housing, mixed-use zoning and sustainable design would be particularly welcome.
The housing strategy is not happening in a vacuum. Climate resilience and environmental protection are integral to the ministry’s development plans. “We are exploring nature-based solutions for flood mitigation and coastal erosion,” said the VROMI minister. New policies are being designed to limit coastal development and preserve ecosystems like mangroves. The ministry also plans to establish the country’s first terrestrial nature parks and an Environmental Impact Fund. Developers of large projects will be required to contribute to this fund, which will finance coastal protection, offset tourism impacts and support affordable housing.
Recognizing the limitations of public financing, the government is turning to innovative models like public-private partnerships, performance-based contracts and even carbon credits. “We exist in a gray zone,” T. Gumbs highlights, referring to the country’s limited access to international funding due to its constitutional status as a constituent country of The Netherlands, which prohibits access to finance from intergovernmental organizations such as the Caribbean Community, a group of 15 Caribbean countries. “Long-term sustainability requires greater private sector involvement, bringing both financing and innovation.” The island’s openness to international collaboration also extends to infrastructure. “We prioritize giving local contractors the first opportunity to build and invest but, like many small nations, we face capacity limitations. For large-scale infrastructure projects like roads, housing and waste management we welcome international contractors, especially when they partner with local firms.” The government is preparing several World Bank–funded tenders for the landfill and waste sector, creating significant entry points for foreign engineering and technology firms.
Sint Maarten’s economic strategy is coalescing around three key pillars: fiscal reform, sustainable infrastructure and inclusive housing. The government sees itself not merely as a builder, but as a facilitator — connecting residents with investors and ensuring that growth does not compromise equity or the environment.
A new investment vision
The shift in strategy, from government-as-builder to government-as-facilitator, is intentional. Sint Maarten doesn’t want to just build homes, it wants communities — livable, connected and sustainable. As both Ministers made clear, Sint Maarten’s development strategy is no longer just about bricks and mortar: “Developers are increasingly becoming part of the community they invest in,” said the VROMI Minister. “Now, for the first time, there is a focus on investing not just in construction, but in communities.” The message is consistent and compelling: Sint Maarten is open for business, but only the kind that uplifts its people, protects its natural assets and supports its financial sovereignty. Sint Maarten offers a rare blend of international appeal and small-island warmth for those who want to make a difference. Or, as the finance minister puts it: “Come to Sint Maarten, our unique island where you can enjoy cuisine from anywhere. We have so many nationalities here. I hope to see people here, not just as tourists, but as partners in progress.”