Tourism sector contributes 3 out of every 10 dollars of the Dominican Republic’s foreign exchange earnings

Punta Cana – The Association of Hotels and Tourism of the Dominican Republic (Asonahores) indicated that at least 10 out of every 100 pesos of the government’s tax revenues are contributed by the tourism activity, highlighting that in 2022, the taxes generated by tourism totaled more than RD$155 billion.

These statements were made during the opening ceremony of the XXXVI Commercial Exposition, the most prominent business platform between suppliers and companies of the tourism sector, which concluded October 11 at Blue Mall Punta Cana, inaugurated by the Vice President of the Republic, Raquel Peña and the Minister of Tourism, David Collado, together with the businessmen of Asonahores.

Therefore, David Llibre, president of Asonahores, explained that for every peso that the State releases from taxes on tourism, the dynamism of the productive chaining of the sector returns 12 pesos, interconnecting with the other sectors of the economy through the purchases of goods and services, amounting to 139 billion pesos.

“In all purchases made by the tourism industry of recorded goods and services ITBIS is paid. Therefore, we call for the current tax structure that supports the tourism sector to be improved, but not eliminated, in order to continue attracting investments that will allow the growth of the industry to increase and continue generating contributions to the treasury,” he said.

He also said that the Dominican tourism industry attracts a significant amount of foreign direct investment, contributing approximately 3 out of every 10 dollars generated in foreign exchange by the Dominican economy. This is why it is one of the main reasons for maintaining the exchange stability of our country.

He specified that 5,000 million dollars in foreign investment is required to increase the arrival of two million visitors to the country, and this is only possible with the current legislation.

“We believe that the incentives granted by Confotur should be destined to projects that provide a minimum number of direct jobs per room, offer improvements in the working conditions of the direct collaborators, bet on the use of renewable energy, have a plan for the reuse of water for irrigation and the recovery of solid waste, make investments for the renovation of its plant in the long term and have a commitment to social responsibility with the community,” said Llibre.

Aguie Lendor, executive vice-president of Asonahores, said that in this new edition of the Commercial Exposition, the entity seeks to promote the development of the productive chain and strengthen commercial relations to promote sustainable growth in the tourism sector and benefit all the actors involved in the tourism industry.