Curacao The island of Curacao is located in the south of the Caribbean Sea near the coast of Venezuela. Most of Curacao’s GDP results from services. Tourism, petroleum refining and bunkering, offshore finance, and transportation and communications are the mainstays of this small island economy, which is closely tied to the outside world. Curacao enjoys a high per capita income and a well-developed infrastructure compared to other countries in the region. Curacao is an Overseas Countries and Territories (OCT) of the European Union. Nationals of Curacao are citizens of the European Union, even though it is not a member. Based on its OCT status, products that originate in Curacao have preferential access to the EU and are exempt from import duties. The island has state of the art Information and Communication Technology connectivity with the rest of the world, including a Tier IV datacenter. With several direct satellite and submarine optic fiber cables, Curacao has one of the best Internet speed and reliability in the Western Hemisphere.