Announces that the DR will host the most important tourism investment fair in the Caribbean

SANTO DOMINGO. -The total recovery of tourism and the income generated by the sector in these two years of President Luis Abinader’s administration have been fundamental to maintaining macroeconomic stability in the country.

This was reported by the Minister of Tourism, David Collado, after announcing on Monday that the Dominican Republic will host the Caribbean Hotel Investment and Operations Summit (known by its acronym in English as CHICOS), to be held in November.

The announcement was made at a ceremony headed by Minister Collado and attended by the president and director of the event’s organizing firm (HVS), Parris Jordan and Nicole Roantree, respectively, along with representatives of ASONAHORES, ProDominicana, and members of the sector. tourist and financial of the Dominican Republic.

The CHICOS summit, which will take place from November 9 to 11 at the Hilton hotel in La Romana, is an event that will bring together state participants, investors, operators, suppliers and other members of the tourism value chain to participate in panels, business and investment rounds and other activities in support of the growth of the sector and deepening of commercial ties between its participants.

Participants include the world’s largest hotel chains, along with investment funds and other agents from the international tourism sector.

The presence of this important tourism investment fair in the Dominican Republic reflects the country’s leadership in attracting foreign capital.

It is recalled that the United Nations Conference on Trade and Development (UNCTAD) recognized in its world investment report 2022, published on June 9, 2022, that the Republic

The Dominican Republic was the main country in the recovery of foreign investment in the Caribbean during the year 2021.

In Quisqueya, in the last ten years, tourism has increased its participation from 5-10% in foreign direct investment, with flows of almost US$200 million of investment per year, to a participation of more than 30%, with flows of investment of almost US$1,000 million a year, according to statistics from the Central Bank of the Dominican Republic.

“These figures reflect the consolidation of the sector as a strategic pillar for macroeconomic stability and economic growth,” said Minister Collado.

The official highlighted the importance of the CHICOS summit at a time when the recovery of Dominican tourism is complete and it is projected to reach record figures by the end of the year.

“If everything continues as it goes, at the end of 2022, the Dominican Republic will receive more than 7.3 million tourists for the first time, a true record,” said Minister Collado.

He expressed that the Dominican Republic is at its best moment for investment in the tourism sector.