Ready for the Smart Revolution?
A Case for Economic and Fiscal Preparedness We are on the verge of the next level of the “Smart Revolution”. How will this create new opportunities for us here in Curaçao and what challenges can we expect to see ahead? Fiscal economist and Senior Policy Advisor at the Ministry of Economic Development of Curaçao and guest lecturer of the University of Curaçao, Emauro Scoop, MSc, elaborated on this topic during a lecture held recently in the auditorium of the UoC. TEXT FARAH DIBAH AYOUBI
So what is the “Smart Revolution”? Google “Smart City” and you will be inspired by clever and creative technology-driven solutions that cities around the globe are implementing to improve livability, workability and sustainability for their citizens. Some cities lower their carbon emissions with citywide use of smart bicycles, while others help the elderly and disabled people by offering health check-ups and medical consultation through remote-controlled medical equipment and
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CURAÇAO BUSINESS
| NUMBER 1 | 2016
smart devices. So what does it take to make Curaçao the first “Smart Island” of the Caribbean? One thing is for certain: Smart technologies are changing urban lives, the economy and the way of doing business. They become a major economic driver. And a change in commerce means that, - in addition to the many other expected changes - our fiscal infrastructure needs to adapt accordingly in order to avoid pitfalls.
Why is it so exciting? Smart technology has the potential to transform Curaçao completely, even down to an operational level. We can create a healthier, more sustainable, more educated Curaçao. As a result, new types of businesses will grow. We could even reposition ourselves on the world economy stage as we have done before in our economic history. The concept of smart cities doesn’t compete with existing efforts. Instead, smart city technologies can support and enhance work already underway.
Why be concerned? As business interactions change we need to adapt our fiscal and tax systems.
