dominican republic tourism and their economy

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Why tourism is so important to the Dominican economy

A recent study, “Dominican Tourism: A Decade of Contributions 2009-2019,” released last week shows how important tourism is to the Dominican economy, the potential of Dominican tourism and the country’s leadership in the region.

The Dominican Association of Hotels and Tourism (Asonahores) and the Banco Popular sponsored the research carried out by the economic intelligence firm, Analytica. The study reveals there is a multiplier effect of five for every hotel employee. The study provided insights into how hotel jobs impact transportation, entertainment, food production and other value-added chains throughout the country.

The study found that tourism creates 10% of all the jobs in the country, over 500,000. The study highlights the direct foreign investment (FDI) in tourism was around US$5.2 billion for the period. This was 20% of the total FDI for the 10-year period and 30% for the last five years of the study period.

The study found that eight out of every 10 dollars earned from tourism industry remain in the country and 60% of all profits have been reinvested.

This massive inflow of resources into the Dominican economy is explained by the fact that visitor arrivals during the decade exceeded 65 million, including 7.5 million in 2019, with a total expenditure of US$63 billion. This represents an increase of 68% in the period.

Meanwhile, cruise activity alone increased by 121%, while air arrivals were double those seen for the rest of the Caribbean.

The visitor flows drove an increase of 16,372 rooms over the last decade, which reached 82,221 in 2019. At the same time, hotel occupancy increased by more than 11 points, rising from 66% in 2009 to 77.5% in 2018, the year before the DR was affected by a media crisis.

The growth of the Dominican Republic’s gross domestic product (GDP) generated by tourist demand presented an average growth of 8.01%. Private activities linked directly or indirectly to tourism represent 13% of Gross Domestic Product (GDP). This figure rises to nearly 16% if public activity and domestic tourism are taken into account.

The research indicates that as a result of tourism activity, 573,000 jobs were generated in the country, directly and indirectly, which corresponds to 12.3% of all private sector jobs in the country.

In terms of taxes, tourism contributed more than RD$400 billion in taxes, an average of 1.28% of the GDP each year. The tourism industry is the mainstay of the balance of payments, contributing to the accumulation of international reserves.

The report was presented to the general public during an event with the participation Tourism Minister David Collado; the executive president of the Banco Popular, Christopher Paniagua; the president of Asonahores, Rafael Blanco Tejera; the president of the National Business Council, Pedro Brache; and the executive vice president of Asonahores, Andres Marranzini Grullón.

The study is a follow up of a first study carried out in 2017.

Read more in Spanish: Asonahores

19 July 2021

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Dominican Republic: a tourism success story

The caribbean nation, which has vaccinated all hotel workers, is now receiving more bookings than it was before the pandemic in 2019.

It is easy to forget about the coronavirus on the sandy beaches of the Dominican Republic. Peter, a German tourist who has turned a deep shade of pink over his two-week holiday, is fully vaccinated and only sorry today is the last of his trip. “This is paradise. It feels like there is no pandemic here,” he said. For the health-conscious who nonetheless want to travel, the pull of a vacation largely spent outdoors on a beach is strong, especially when everyone you are likely to meet has already been inoculated.

The Dominican Republic is leading the recovery of tourism in the Caribbean, driven by strong demand from US travelers. Almost 60% of Americans are fully vaccinated, and one of the effects is a stampede to go abroad and make up for lost time. By the end of May, the Dominican Republic saw a 10% increase in travelers booking to arrive in July than for the same dates in 2019, before the pandemic upended all travel .

There is pent-up demand that is now emerging. We expect the same to happen in other tourist destinations such as Spain Alejandro Reynal, CEO of Apple Leisure Group

The Caribbean nation is a beacon of hope for places like Spain and Greece in Europe, which rely strongly on tourism but are still waiting for vaccination campaigns on the continent to yield results for the sector. The concern now is whether this will happen in time to save the summer 2021 season, following the disaster of 2020, though at this point many businesses are clinging on for survival.

At 9am in Las Terrenas, in the northeast of the country, a dozen tourists are already sunbathing, while others enjoy breakfast on the Bahia Principe Grand El Portillo Hotel beachfront. The scene could be from 2019, but it is from 2021. Coronavirus safety measures are, however, in place. There are daily temperature checks at the hotel, face masks must be worn in busy areas and there is hydroalcoholic gel in abundance. The Dominican Republic no longer requires visitors to present a negative PCR test, though many visitors require them to get back home, and random tests are carried out in the main international airports.

What’s more, most of the people tourists are likely to come into contact with have been immunized. “All hotel workers have been vaccinated to guarantee the safety of the [tourism] sector. If tourism takes a step forward, we all do, because many families survive from the industry,” the president of the Dominican Republic, Luis Abinar, told media on a trip organized by Spanish tourism consortium Grupo Piñero. Abinader also emphasized that the recovery is already underway: “By the end of 2021 we will have similar numbers [in arrivals and spending] as before the Covid crisis,” he said.

The country’s tourism minister, David Collado, explained that the direct and indirect proceeds of tourism account for 22% of the nation’s gross domestic product (GDP). “For us, tourism is not a luxury, it spearheads our economy. It is good news that for July reservations are already at record levels, especially from the United States market,” he said. “International reservations for the Punta Cana-Bavaro area are already 37% higher than last year’s figures,” added Samuel Pereyra, general manager of state bank Banreservas.

Hotels fully booked

Hotel companies share in the sense of optimism and believe the strong numbers will be sustained into the second half of the year. “There are already fully booked hotels and they are asking us to raise the maximum occupancy allowed, which is now at 80%,” Collado said. Occupancy was lower overall in the first six months of 2021, but this is expected to change. The Bahia Principe hotel chain had 25% more tourists from the United States in the year up to June than in the same period of 2019. “With what has been booked so far, we are already up 50%,” said Encarna Piñero, CEO of Grupo Piñero. Punta Cana is at the maximum occupancy levels allowed by the pandemic.

Meanwhile, Sophia, from Orlando, Florida, is enjoying herself. “I am already vaccinated and I had a few weeks off, so I came without thinking twice. And by the end of the year I want to come back,” she said, speaking from a Grupo Piñero resort in Punta Cana.

American chain Apple Leisure Group (ALG) is in a similar situation. Throughout the Caribbean, the firm recorded a 40.45% increase in bookings between March 14 and May 23 when compared with the same dates in 2019. Alejandro Reynal, ALG’s managing director, expects this to be repeated worldwide: “There is pent-up demand that is now emerging. We expect the same to happen in other tourist destinations such as Spain .”

The Dominican Republic’s main tourism markets are the United States (more than two million tourists in 2019), Canada (almost 900,000), France and Russia (more than 200,000), as well as Argentina, Germany and Spain (close to 200,000), according to the Dominican Republic’s central bank. Among the thousands of tourists who plan to visit this year is Mercedes Romera, from Dos Hermanas in Spain’s Seville region. “I’m going with my parents, my husband and my two children. We are already vaccinated, except for the children, and we wanted a quiet place like Samaná, where there are hardly any infections and the workers are vaccinated.”

In spite of the optimism, the Dominican government remains cautious about the next setbacks the coronavirus pandemic might throw up. Overall this year will still be down on 2019′s takings, and full normality is not expected until 2022.

Investment plan

The Dominican government has also announced a raft of measures to improve tourism, including beach facilities ($10 million, €8.46 million), measures to combat algae ($12 million, €10.15 million with the private sector), beach regeneration ($70 million, €59.19 million with the Inter-American Investment Bank) and revamping cultural sites ($90 million, €76 million). Further measures include eliminating taxes on domestic flights in order to promote domestic tourism, which went from accounting for 3% to 35% of the sector last year – a rise largely explained by the 68% drop in international tourism. A new route between Madrid and Samaná will also open in July, operated by Air Europa.

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3 lessons on sustainable growth from the Dominican Republic

Tourist arrivals already exceeded pre-pandemic levels. Image:  Unsplash / Michelangelo Azzariti

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Maria eugenia del castillo.

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• The Dominican Republic has recorded one of the world's strongest recoveries from the COVID-19 pandemic.
• The Caribbean island nation quickly achieved high rates of daily vaccine administrations, paving the way to reopening the economy.
• The pandemic has yielded three lessons that can serve as a blueprint for delivering sustainable, inclusive growth.

The Dominican Republic’s economy rebounded from the COVID-19 pandemic disruption faster than many others - developing and developed alike. As the country re-emerges as a Latin American growth leader, it is applying the lessons of the pandemic to accelerate both sustainable and inclusive growth in the region.

While the Dominican Republic is known for its dynamic tourism industry, its resilience and diversified economy are equally noteworthy. Its average GDP growth exceeded 5% annually from the turn of the century through recent pre-pandemic times, reducing poverty by more than half. When COVID-19 hit in 2020, crushing global trade and tourism activities that powered the country’s performance until then, the economy contracted by nearly 7% (similar to its Latin American peers).

Growth rebounded following the Dominican Republic’s response to the pandemic, triggering a rising trend. In 2021, the Dominican Republic recorded one of the highest growth rates in Latin America, expanding its economy by more than 12%, and is expected to register a 5% GDP-growth for 2022, despite ongoing global economic turmoil.

Inflation has remained below the Latin American median and Standard & Poor’s recently improved the country’s sovereign debt credit rating from BB- to BB , based on the strength of its integrated COVID response and corresponding economic recovery. A highly relevant outcome for the nation’s financing rate and critical input factor for the growth of the economy for the years to come.

A regional growth leader

This recovery has been led by President Luis Abinader and his administration, who took office in August 2020 – when vaccinations were still undergoing clinical trials, the country had neither signed nor negotiated vaccine contracts, and the future was shrouded in uncertainty.

Through innovative means and forms of collaboration, the Dominican Republic – as small island developing nation – courageously took its fate in its own hands: by summer 2021, it achieved one of the world’s highest daily vaccination rates per 100 people - even with a significant lead over major economic blocks. This spearheaded the road towards reopening our economy. Tourism, accounting for 31% of foreign direct investment (FDI) and 22% of foreign exchange inflows, swiftly regained its pre-crisis strength, and arrivals continue to exceed pre-pandemic levels since the fall of 2021 (a feat the IMF described as a “ notable recovery of tourism ”).

Despite this remarkable crisis management and economic recovery, there are other legacy issues still to be addressed. As a small island developing state with a population of approximately 10 million, we continue to face significant challenges: climate change vulnerability, more required FDI for high-growth industries, income and wealth inequality; and ongoing humanitarian challenges sparked by continuous violence and political unrest in neighboring Haiti.

The pandemic experience, nonetheless, has given us a blueprint to respond swiftly to different complex challenges. We hope other leaders might take insight from what we have learned:

1. Agile, data-driven decision making. In order to deploy accurate responses, we needed to rapidly construct data. This required multiple entities engaging for the first time together and every minute could mean saving a life. Soon after taking office, we created a “Nerve Center” - a primary decision-making body to respond to COVID-19 challenges. This required creativity and moving away from traditional governmental action to achieve extraordinary results in a short period of time. Data was gathered from different public entities, including population and Ministry of Public Health records which had been mostly kept manually. Low-cost mechanisms, including mobile devices, were set up to collect new data on vaccination progress. Paper records were digitalized nearly overnight, a seemingly impossible task even in normal circumstances. The capabilities developed during the pandemic will also be at the center as we face new challenges, particularly to unlock new economic, social, and environmental opportunities.

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2. Integrated, innovative collaboration models with the private sector, academia and civil society . An effective response required harnessing the best ideas, capabilities and solutions from all sectors and stakeholders. The Nerve Center implemented new ways to tackle pressing national issues in a non-siloed, ongoing manner and used these collaborations to respond to challenging questions: How to get vaccines entering late into a global race that had started even before taking office? How to acquire syringes with limited immediate world stock for developing nations? How to run a nationwide vaccination campaign targeting millions (#vacunateRD)? How to access communities in both rural and urban areas? How to coordinate at-scale to mount a nationwide operation involving so many ministries, agencies, finance, and public institutions? Inviting business leaders, public entities and other stakeholders to the table for hands-on collaboration enabled the Dominican Republic to tap new expertise and resources that proved critical to our pandemic response: leaving no one willing to get a vaccine behind. Our administration is now looking to make cross-sector collaborations the “new normal” to address future challenges at national level.

3. Focusing on the well-being and livelihoods of the Dominican people. COVID-19 threatened people’s economic and financial well-being and their physical and mental health. The Dominican Republic sought to protect these through a balanced public-health targeted pandemic response. Because of its prominent role in our economy, the Dominican Republic supported tourism, while minimizing health risks through vaccinations, mask mandates, social distancing, and nightly curfews. The economy was gradually reopened by region based on daily reviews of vaccination progress, balancing the acceleration of economic recovery and protecting lives. The benefits of this approach are already being reaped. In 2022, FDI reached 32% higher than pre-COVID year 2019. Exports increased by 26%, influenced by notable performance of free trade zones. Overall tourism-related activities continue to rebound, with ecotourism poised to drive even more expansion with sustainability at its core.

Utilizing the three-step blueprint outlined above, the country aims also to boost FDI, invest in its workforce through reskilling and upskilling that place more people in family-sustaining jobs and unlock diversified areas of growth and development. Building on these learnings, we are working towards doubling the size of the economy by 2030, in an inclusive and sustainable manner.

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Dominican Republic the Focus of First UNWTO Tourism Investment Guide

• All Regions, Americas
• 20 Jan 2022

UNWTO has launched the first in a series of tourism investment guidelines focused on a specific country. Developed alongside the Ministry of Tourism of the Dominican Republic and the national Export and Investment Center (PRODOMINICANA), the new guide provides key insights for investors, with the aim of boosting foreign direct investment in the Caribbean destination.

Launched against the backdrop of the FITUR tourism trade fair in Madrid, the Investment Guidelines represent a comprehensive tool for parties interested in FDI opportunities. In particular, it aims to attract and promote and retain investment in sustainable tourism initiatives in the Dominican Republic , including those that provide local jobs and build greater resilience across the sector. The guide showcases the potential of closer public-private collaboration and makes clear the importance of directing investments towards building new tourism business models centres on innovation and sustainability .

As the UNWTO guide notes, the Dominican Republic represents one of the most competitive opportunities for investors for a number of reasons, excellent geographic location, solid legal framework, economic stability, and modern infrastructure.

Leading investment destination

According to data compiled by UNWTO and fDi Markets of the Financial Times , some 26 tourism projects in the Dominican Republic received about US$5.7 billion in tourism greenfield investments between 2016 and 2020. At the same time, the country has experienced an annual rate of growth in GDP of around 5% for the past 25 years, double the regional average. Over recent years, the Government of the Dominican Republic has worked to further attract FDI, including through the restructuring of free trade zones, incentives for investment in tourism and the signing of DR-CAFTA. (Dominican Republic-Central America Free Trade Agreement).

In 2021, the economy of the Dominican Republic recovered and reached pre-pandemic levels of growth. Notably, around 38% of this recovery was the product of the tourism sector. According to figures from the Ministry of Tourism (MITUR), as of December 2021, around 300,000 jobs were secured by the recovery of tourism, the result of the Responsible Tourism Recovery Plan led by the President of the Republic, Luis Rodolfo Abinader Corona. The Plan, which saw tourism workers vaccinated as early as possible, allowed the country to be among the first of all global destinations to reopen its borders.

Related links

• Download the news release in PDF
• Guías de Inversión Turística República Dominicana
• Dominican President Joins UNWTO and IE University to Announce 300 Tourism Education Scholarships
• Declaration of Punta Cana, Dominican Republic
• Investments Strategy
• UNWTO Joins Investors with Tourism Leaders at Cabo Verde Forum

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Wednesday, April 24, 2024 6:39 am (Paris)

Dominican Republic set to embrace mass tourism

While the island is expecting 7.5 million foreign visitors this year, its government has made tourism a priority, providing subsidies to foreign investors who are planning to develop new coastal areas.

By  Clément Guillou

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With a Hollywood-style musical background, in front of a giant screen worthy of a U2 concert, the Dominican Republic's Minister of Tourism completed his show, alternating between televangelist, commercial director and politician. He strolled on the stage of an all-inclusive hotel in Punta Cana, the Caribbean island's cash drawer, at the beginning of May, in front of 300 French travel agency executives, tour operators and airline companies. They were all charmed by his presentation of a "global success story," as he described it: the spectacular rebound of Dominican tourism, which has surpassed previous records in the last six months.

David Collado's tone became increasingly serious as he explained why, in July 2020, the government preferred to reopen its borders rather than schools, despite the presence of Covid-19 and a deficient health system: "We took a risk, but with a great sense of responsibility. The Dominican Republic's success can be attributed to the fact that it chose life. Thank you very much with all my heart, thank you for believing in the Dominican Republic. May God bless you." Standing ovation.

Experts in organized travel have reason to applaud the Dominican government: Planes bound for the island were packed in 2021, and tour operators' accounts were saved. A client looking for sun without the risk of quarantine had few options until this winter. The easiest and cheapest? Punta Cana. The French have taken the bait. For the first time in history, a long-haul destination has been the best-selling winter destination. More than 100,000 of them have set foot there since the beginning of the year, with half of them visiting for the first time. According to Jean-Pierre Mas, president of the Travel Company Entreprises du Voyage, the success will continue this summer due "to the quality of the tourist offer, the diversity of the flight offer with three airlines and the very effective promotion of the Ministry of Tourism."

Tax incentives

His annual convention is funded by the Dominican Ministry of Tourism, which was already a sponsor of the World Tourism Fair in Madrid in January. Meanwhile, David Collado has taken his road show to major US markets, where more than half of his clients come from. Every month, the minister holds a press conference to praise a resurrected industry that is bringing in record numbers. He said the country will exceed 7.5 million foreign visitors this year – more than Argentina or Brazil did before the pandemic. For the time being, no crisis appears to be disrupting this growth, be it a series of sudden deaths of American tourists in 2019, Covid-19 and the war in Ukraine, which has deprived the country of its many Russian visitors.

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The World Bank In Dominican Republic

The World Bank, through the new Country Partnership Framework, is committed to the Dominican Republic to close gaps and promote balanced growth without leaving no one behind.

Over the last two decades, the Dominican Republic has been one of the fastest-growing economies in the region. This was due to a combination of market-oriented structural reforms in the early 1990s and favorable external conditions that supported economic growth. In addition, prudent monetary and fiscal policy contributed to macroeconomic stability.

However, the drivers of this exceptional growth are reaching their limit due to low productivity growth in recent years, insufficient human capital to meet the needs of the business sector, the occurrence of climate change-related disasters, and distortions in key markets, including the inefficient allocation of tax exemptions.

The economy grew by 2.5 percent in 2003, and growth of 5.1 percent is expected for 2024, driven by the delayed effects of monetary policy easing and an increase in public investment. The upper-middle-income poverty rate (US$6.85 PPP per day in 2017 currency) is estimated at 19 percent, down from 20 percent observed in 2019, before the pandemic.

Despite growth, several sectors have failed to generate quality jobs, and the high inflation rates observed in 2022 and 2023 (8.8 and 4.8 percent, respectively) affected the livelihoods of the population, mainly the most vulnerable. Consequently, it is necessary to improve access to quality basic goods and services—in education, health, water, and electricity—that help expand economic opportunities, increase economic mobility, and protect vulnerable sectors.

The Government has shown a strong commitment to addressing the long-standing challenges posed by the electricity sector through a comprehensive package of reforms, but challenges remain such as increasing transparency, accountability, and efficiency in the sector; continuing with the diversification of  the energy matrix, including less polluting energy sources; and increasing access to reliable and affordable energy. Improving the environment to support the competitive development of private sector-led renewable energy investments will also be key.

More than 40 percent of Dominicans live in vulnerable conditions and are at risk of falling into poverty due to climate-related impacts and economic crises. Likewise, gender gaps in jobs and wages, shorter working lives, and higher unemployment and unpaid roles contribute to a higher incidence of poverty among women.

Climate change has intensified exposure to natural disasters, which could increase contingent fiscal liabilities, given the country's low degree of financial protection against these risks. The occurrence of adverse events increasingly highlights the critical need for accelerated action to strengthen the country's resilience and adaptation in an inclusive manner.

Looking ahead and to achieve inclusive growth, the Dominican Republic will require a greater increase in productivity, through the implementation of reforms to strengthen fiscal reserves, human capital, competitiveness, innovation, green technology, public spending efficiency, and resilience to climate events. These changes should go hand in hand with improvements in labor market regulations and social protection systems.

Last Updated: Apr 17, 2024

The new Country Partnership Framework (CPF) FY22-FY26  with the Dominican Republic defines the World Bank Group's commitment to the country. The CPF has three main objectives:

• improve the quality of basic public services such as energy, social protection, and health
• increase the number of high-quality jobs
• increase climate resilience

As of January 2024, the portfolio for the country from the International Bank for Reconstruction and Development (IBRD) amounts to $1.8 billion and includes eight (8) investment operations ($978.5 million); one (1) budget support ($400 million); one (1) Program-for-Results ($250 million); a contingent financing line to address shocks ($230 million) and one (1) Emissions Reduction Payment Agreement ($25 million).

Financing for projects in planning for fiscal years 24-25 includes $400 million for budget support related to policies to address climate change, and $780 million in support of three (3) investment operations in energy efficiency, green and resilient industrial transformation, and blue economy. The IBRD loan portfolio is complemented by a wide range of analytical and advisory services on the country in key areas such as climate and development , economic performance , the private sector , poverty , gender , and territorial development .

The International Finance Corporation (IFC) currently maintains its strongest portfolio among all Caribbean countries in the Dominican Republic ($205.1 million committed including mobilizations) and is strategically focused on promoting the development of key sectors of the economy such as agribusiness, manufacturing, and medical technology; supporting access to financing for MSMEs and women; promoting competitiveness through improvements in technical education and health; and prioritizing sustainable development through investments in renewable energies and green financing.

The Multilateral Investment Guarantee Agency (MIGA) will focus on investment opportunities that increase job creation and support a green, inclusive, and resilient recovery, and will work closely with IFC and the WB to improve the enabling environment for the development of public-private partnerships and foreign private investment.

The World Bank Group has a strong commitment to the Dominican Republic to improve the lives of people by improving access to good quality public services, increasing the number of high-quality jobs through better labor skills and the quality of education, and increasing the capacity to respond and recover from the adverse effects of climate change.

World Bank Group-funded projects have achieved significant results in recent years, including:

Infrastructure

• Over the last five years, more than 600 km of electrical lines have been rehabilitated, which has reduced electricity losses and guaranteed 24-hour service to 105,000 customers in poverty.
• The commissioning in 2017 of a wastewater treatment plant and a submarine outfall has improved water quality and sanitation for nearly 140,000 people in Puerto Plata, one of the main tourist destinations.

Technical Assistance

• The country recently began the process of developing the Low Emission and Resilient Long-Term Development Strategy (ELP), the roadmap to achieve its net-zero emissions goal by 2050, integrating the public sector, private sector, academia, NGOs, civil society, and international organizations.
• In recent months, advice and capacity-building support have been provided for the preparation of a general water law that will reform the institutional framework of the sector, and there is ongoing dialogue with the government to support the design of a National Water Sector Modernization Program to achieve the vision of the Water Pact 2021-2036.
• The National Diagnostic Assessment System (sample-based) for third and sixth grades of primary and ninth grade of secondary education has recently been improved to help measure students' learning levels after the Covid-19 pandemic. In addition, a small project has been designed to measure learning loss in 9th-grade high school students using an adaptive platform.
• Key government technicians have been trained in the use of a free and open-access classroom observation tool (Teach ECE) to improve the assessment of the quality of services in early childhood centers; 30 centers have been evaluated with this tool. ECE aims to measure the quality of teacher-child interactions in early education.
• A "Comprehensive Adaptive Social Protection Strategy" has been disseminated and considered for inclusion in the disaster risk management law reform. The Strategy aims to increase the resilience of poor and vulnerable households through social policies and programs aimed at reducing vulnerabilities and supporting and strengthening their capacity to prepare for, cope with, and recover from a disaster.
• "Supérate," the main line of action for Social Protection of the Dominican government, has been created and institutionalized. Additionally, the availability of an "Emergency Voucher" since March 2022 has provided temporary support for the poor and vulnerable population most affected by shocks and helped about 36,000 poor and vulnerable families recover from the ravages of Hurricane Fiona. This is an innovative process in the region.
• As of February 2022, the Dominican Republic is the first Caribbean country to launch a green taxonomy strategy. The International Finance Corporation (IFC) of the World Bank Group, the Superintendency of Securities Market, and the Ministry of Environment launched the "Green Taxonomy" project, which seeks to implement strategies that promote the sustainable growth of the capital market and contribute to climate change mitigation.

Direct Benefits to the Poorest Population

• Since 2017, 1.3 million households in extreme poverty have received the "Aliméntate" monetary transfer, conditioned on primary health care responsibilities, with special emphasis on child and reproductive health.
• Since 2017, about 9,000 dirt floors have been replaced with cement in the 14 poorest provinces of the country.
• Also, more than 27,000 young people have received training for their insertion into the labor market or to start an entrepreneurship, of which 69% are women.

Dominican Republic: Commitments by Fiscal Year (in millions of dollars)*

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• Travel, Tourism & Hospitality

Dominican Republic: travel and tourism participation in the GDP by type 2010-2019

Travel and tourism sector as percentage of gross domestic product in the dominican republic from 2010 to 2019, by type of contribution.

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December 2020

Dominican Republic

2010 to 2019

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Revenue per available room of the U.S. hotel industry 2001-2022

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The Economy of the Dominican Republic: An Overview

by Editor Latam | Dec 24, 2023

The economy of the Dominican Republic has experienced significant economic growth over the past few decades, primarily driven by various industries and a diversified export base. This overview delves into the primary industries, the goods and services they produce, and the characteristics of the workforce, along with the country’s export profile and primary trade partners.

Table of Contents

Main Industries and Their Products

Description: The Dominican Republic boasts some of the Caribbean’s most popular tourist destinations, including Punta Cana and Puerto Plata. Tourism plays a pivotal role in the nation’s economy.

Goods and Services Produced: Hotels, resorts, restaurants, recreational activities, and related services are the primary outputs. The country also offers cultural and eco-tourism experiences . Below are some of the main tourist attractions in the country:

• Punta Cana & Bávaro: Located on the easternmost tip of the Dominican Republic, this area is famous for its pristine beaches, luxury resorts, and world-class golf courses.
• Santo Domingo: As the capital city, Santo Domingo is a blend of historical and modern attractions. The Zona Colonial, a UNESCO World Heritage site, features colonial-era buildings, the first cathedral in the New World, and the Alcázar de Colón, the former residence of Christopher Columbus’s son.
• Samana Peninsula: Known for its picturesque landscapes, waterfalls like El Limón, and the annual whale-watching season when humpback whales migrate to the area.
• Puerto Plata: Offers visitors a mix of beaches, the historic Fortaleza San Felipe, and the nearby Mount Isabel de Torres, accessible by a cable car, offering panoramic views.
• La Romana & Casa de Campo: This region is home to luxury resorts, the Altos de Chavón artists’ village, and the beautiful Isla Catalina.
• Jarabacoa & Constanza: Ideal for nature lovers, known for their mountainous landscapes, waterfalls, and opportunities for hiking, rafting, and birdwatching.
• Las Terrenas & Las Galeras : Coastal towns with beautiful beaches, water activities, and a laid-back atmosphere.

Contribution of Tourism to the GDP:

Tourism is a cornerstone of the economy of the Dominican Republic . While the exact percentage can vary slightly from year to year based on various factors, as of 2022, tourism contributed around 17-20% to the country’s GDP. This figure underscores the sector’s significance in driving economic growth, creating jobs, and fostering development across various industries, from hospitality and transport to entertainment and retail.

Agriculture

Description : Historically, agriculture was the backbone of the Dominican economy. While its relative contribution has diminished, it remains a significant sector.

Goods Produced : Sugar, coffee, cocoa, tobacco, bananas, and tropical fruits are the primary agricultural products.

As of 2022, the main countries importing agricultural products from the Dominican Republic include:

• United States: Given its proximity and historical ties, the U.S. is a significant market for Dominican agricultural exports. Products like organic bananas, cocoa, and coffee find substantial demand in the U.S. market.
• European Union: Countries within the EU, such as Spain, Germany, and the Netherlands, are vital markets for Dominican agricultural products, mainly organic cocoa and coffee.
• Haiti: The neighboring country is a notable importer of Dominican agricultural products, including rice, poultry, and dairy products.
• Other Caribbean Nations: Countries within the Caribbean region also import a range of Dominican agricultural goods, benefiting from regional trade agreements and proximity.

Contribution of Agriculture to GDP

As for the agricultural sector’s contribution to the Dominican Republic’s economy, while the exact percentage can fluctuate based on yearly performance and other economic factors, historically, the farm sector has contributed around 6-8% to the country’s GDP. However, it’s essential to note that while the percentage might seem modest compared to other sectors like tourism or manufacturing, agriculture plays a crucial role in employment, rural development, and food security in the Dominican.

Manufacturing

The Dominican Republic has attracted many foreign manufacturers, particularly in export-oriented industries, thanks to its strategic location, preferential trade agreements, and relatively skilled labor force. Some of the leading foreign manufacturers operating in the country produce:

• Textiles and Apparel: Numerous international clothing brands and manufacturers have set up operations in the Dominican Republic to take advantage of the country’s proximity to major markets like the United States and the European Union. Companies like Gildan Activewear, VF Corporation, and HanesBrands have significant operations in the country.
• Electronics: The electronics manufacturing sector has grown, with companies producing items such as televisions, components, and other electronic goods for export.
• Medical Devices and Pharmaceuticals: The country has become a hub for medical device manufacturing , with several multinational companies establishing production facilities. Additionally, pharmaceutical manufacturing, especially generic drugs, has also seen growth.
• Automotive and Components: Some international automotive companies and suppliers have established operations in the Dominican Republic, producing parts and components for the global market.
• Footwear and Leather Goods: Several international footwear brands and manufacturers have set up production units, capitalizing on the country’s skilled workforce and favorable trade agreements.

Contribution of Manufacturing to GDP

The manufacturing sector has experienced significant growth over the years and has become a principal contributor to the economy of the Dominican Republic. Both domestic and foreign investment drives it. As for its contribution to the country’s GDP, while the exact percentage can vary based on economic conditions and other factors, the manufacturing sector has historically accounted for approximately 16-19% of the Dominican Republic’s GDP. This figure underscores the importance of manufacturing in the country’s economic landscape, generating employment, promoting exports, and fostering industrial development.

Description: The Dominican Republic possesses significant mineral resources, with gold being the most notable.

Goods Produced: Gold, silver, nickel, and other minerals. Some of the major mining companies operating in the Dominican Republic include:

• Barrick Gold Corporation: One of the world’s largest gold mining companies, Barrick Gold has a significant presence in the Dominican Republic through its Pueblo Viejo mine, one of the largest gold mines in the Americas. The mine is a joint venture between Barrick (60%) and Newmont Corporation (40%).
• GoldQuest Mining Corp.: A Canadian-based company involved in exploration and development activities in the Dominican Republic, primarily focusing on its Romero gold-copper project.
• Precipitate Gold Corporation: Another Canadian exploration company with projects in the Dominican Republic, including the Pueblo Grande project.
• Unigold Inc.: A Canadian exploration company focusing on its Neita property in the Dominican Republic, which has significant gold and copper potential.
• Hemisphere Energy Corporation: This company has exploration projects in the Dominican Republic, including the Cerro de Maimón copper-gold-silver mine.

Contribution of Mining to GDP

In terms of its contribution to the overall GDP of the economy of the Dominican Republic, the mining sector, including gold and other minerals, has historically represented a smaller percentage compared to sectors like tourism, manufacturing, and agriculture. Its contribution is typically 1-2% of the country’s GDP.

Characteristics of the Workforce

The Dominican workforce is diverse, with a mix of skilled, semi-skilled, and unskilled labor. A significant portion of the labor force is employed in the service sector, especially in tourism-related activities. However, the manufacturing and agricultural sectors also employ many workers. The workforce is relatively young, with a significant portion of the population below 30. While Spanish is the official language, English proficiency is growing, especially among the younger generation.

Exports and Trade Partners

The Dominican Republic has a diversified export base, with the United States being its primary trading partner. The main customers for Dominican Republic exports include:

United States: The U.S. is the Dominican Republic’s largest trading partner, absorbing a considerable portion of its exports, especially textiles, apparel, and agricultural products.

European Union: EU countries, particularly Spain and the Netherlands, are significant markets for Dominican exports, including agricultural products and manufactured goods.

Neighboring Caribbean Countries: Countries within the Caribbean region also serve as essential markets for Dominican products, especially in tourism.

The economy of the Dominican Republic has evolved over the years, with a shift from traditional sectors like agriculture to more diversified industries such as tourism and manufacturing. While challenges remain, including infrastructure, education, and income inequality, the country’s economic trajectory remains positive. With continued investment in critical sectors and a focus on sustainable development, the Dominican Republic is poised to strengthen its position in the global economy further.

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Last update on April 23, 2024, 7:27 pm

Economy May 21, 2023 | 10:05 am

Collado: “Tourism contributes almost 60% of the Dominican Republic economy”

The Minister of Tourism, David Collado, stressed that tourism currently contributes around 60% of the economy of the Dominican Republic.

“It is clearly evidenced that tourism is contributing almost 60% of the economy of our country and that far from tourism being a piña colada or being beach and fun, it is the main industry of the DR,” he said.

He specified that on the subject of air tourism, which is measured by the Central Bank, there is a growth of 36% in relation to 2022, while the world is in recession.

Collado recalled that Héctor Valdez Albizu, governor of the Central Bank, said that tourism is supporting between 25 and 30% of the economy in recent months, according to the program El Gobierno de la Mañana.

He stated that such figures fill him with satisfaction because they have exceeded in many cases his own projections.

“To have numbers higher than our own records for the year 2022 is extremely strong. In 2022 we were competing with the recovery and with the pre-pandemic numbers of 2019, but now we are competing with our administration’s own results,” he added.

This guy is building his case for a raise! Every day there’s a new proclamation from him. While the regular citizen is ignored, tourism gets all the attention.

This is due to the fact that the other sectors of the economy are crashing. For example the construction industry. Read the latest banco central report.As the various sectors decline it makes the tourism sector appear better. Interest rate hikes have about killed the economy. Yet inflation is still with us.

The Ministry of Tourism has a huge budget and it sort of defies its needs. Tourism is a natural occurrence for the country. There are other industries and money makers that need attention, to be strengthened to help diversity the economy so the RD will not be dependent on tourism. The pandemic pointed out the weakness of depending on tourism to support the treasury. The country has to wear economic suspenders with a belt. If one breaks down the other continues support.

Tourism should take a back seat on the country’s focus on the economy for now. Collado needs to rest himself from chest thumping.

The significance of tourism in the Dominican Republic’s economic denotes the lack of development in the social sector: the health care sector is a shame, and extremely expensive. Copayments for access to a doctor are similar to the United States. The poor die for lack of adequate health care. I challenge any government official to dispute the data. Education is a disaster. Kids 5 – 10 years old having to walk several kilometers to get to school. Where? In Moca’s country side. Public transportation in most cities, except for Santiago and the capital is nonexistent. People have to take a motorcycle ride that costs U$1.75.. The country doesn’t have potable water, everybody must buy a 5 gallon to drink for $1.00.. Hygiene is a water unknown in the culture of most dominicans. Garbage everywhere. In Jarabacoa, malls in restaurants all share the same facilities full of shit, yes, human feces, it’s disgusting. And The traffic to Santo Domingo is the worst in the Americas.. Total chaos. I’ve been visiting Dominican Republic since 2002, and the social infrastructure has not improved. Last of all, the financial sector is great, but very costly, credit cards cost 5% monthly charge. Then what’s nice about the country? The people are friendly, the countryside and the beaches are beautiful. Excellent road, great business climate. However, there is wide degree of inequality and the government doesn’t care.

The DR needs to keep investing time and money to bring in more near shoring companies and industries. Bring more manufacturing job that are moving away from China, I’m optimistic we will see a lot of companies move to the DR, the location is prime, DR has a stable economy, stable politics. Growing infrastructure thanks to the tourism industries.so far it is investing some of the money in roads and ports,

To encourage companies to come to the DR, the government must deal with street crime. Business and tourists are hesitant to come to a country where they do not feel safe walking on the streets. If you want new businesses and more tourist dollars, reduce street crime.

That includes the police!

There is no crime statistics ; citizens are denied from reporting crime.

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