The Caribbean airspace is an operationally complex area because it consists of multiple regions operating under different air navigation service providers with distinct air traffic performance capabilities. This study evaluates the benefits of implementing the Space-Based Automatic Dependent Surveillance-Broadcast technology coupled with reduced and harmonized separation standards in the Caribbean airspace. The operational benefits of using advanced air traffic management procedures are investigated in terms of efficiency, capacity, and air traffic controllers’ taskload with computer simulations. Four scenarios are proposed in this paper, and flight operations with real-scale traffic volumes (low, medium, and high) were simulated. The results show that reducing separation minima in the Caribbean region without considering hemispherical rules provides average savings of 162 kg of fuel and 512 kg of carbon dioxide per flight. The estimated fuel saving could reach 180 million kg or 72 million dollars annually with the current aircraft fleet mix. This study demonstrates that employing advanced surveillance technologies increases the Caribbean airspace capacity and enables commercial flights to cruise at higher flight levels. Furthermore, the total number of tactical resolution maneuvers and the potential air traffic controllers’ taskload reduce in the proposed advanced air traffic scenarios.