What economic problems followed the closure of Aruba’s oil refinery in 1985?

The closure of the oil refinery in San Nicolas in 1985 triggered a serious economic crisis for the island of Aruba.

Prior to this event, the refinery—which had been in operation since the 1920s—had been a central pillar of the economy, having dramatically raised the standard of living on the island. In response to the resulting economic downturn, the Aruban government and its people shifted their focus toward aggressively promoting and expanding the tourism industry, which included the development of luxury hotels and casinos to capitalize on the island's natural environment.1