I love Aruba but there are only a couple of private beaches where a woman can be topless, but I don't think there is a clothing optional resort, maybe the Renaissance?
We have been to Aruba many times and loved every trip. We stay at the all-inconclusive resorts and never been disappointed.
After our trips there I have made the following observations. They by no means are rules but more what I notice and conclude.
Aruba is frequented by Americans and Europeans alike. Because of the European influence, topless is ignored but hardly the popular choice. most women stay covered up and only sunbathe topless when on a secluded part of the beach.
That being said, the European holiday season is different from the American's so during the European season topless is more commonplace.
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