A

A.W.G.

See Aruban florin.

A.Z.V.

General Health Insurance ('Algemene Ziektekosten Verzekering').

Afl.

See Aruban florin.

Article IV Consultation

An examination conducted by the International Monetary Fund (IMF) on the macro-economic condition in its member countries. Aruba participates in the IMF as part of the Kingdom of the Netherlands.

Aruban florin

National currency of Aruba. The International Standards Organization (ISO) uses the abbreviation 'AWG' as the currency code for Aruba. However, Aruban law uses the abbreviation 'Afl.' for the Aruban florin. The Centrale Bank van Aruba uses 'AWG' for all transactions with other parties, while the code 'Afl.' is used in its official publications.

Average daily rate (ADR)

Total net revenue (= total net revenue including service charge and net of rebates/wholesalers commission and for time properties only, net of maintenance fee) divided by total room nights of occupied rooms (= the amount of nights the rooms were occupied by guests, whether paid or complementary).

Average hotel occupancy rate

Total room nights of occupied rooms (= the amount of nights the rooms were occupied by guests, whether paid or complementary) divided by total room nights (= total number of rooms available in a property multiplied by the respective number of days in a month).

Average revenue per available room (Revpar)

Total net revenue (= total net revenue including service charge and net of rebates/wholesalers commission and for time properties only, net of maintenance fee) divided by total room nights (= total number of rooms available in a property multiplied by the respective number of days in a month).

AWG

See Aruba Florin.

B

Balance of payments

A statistical statement that systematically summarizes, for a specific time period, the economic transactions of an economy with the rest of the world. The balance of payments records payments and receipts between residents and nonresidents on goods, services, income, and current transfers, as well as changes in Aruba's claims on, and liabilities to, the rest of the world. The balance of payments of Aruba is compiled according the Balance of Payments Manual of the IMF (5th edition).

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