Tourism, the piece that keeps the economic engine running

In terms of income from tourism, according to what was indicated by the Central Bank, 4,121.5 million dollars entered the country in January-June 2022

Judging by the numbers, the Dominican tourism sector has become the key piece that keeps the engine of the Dominican economy running two years into a government that has had to overcome the effects of the confinement measures in the face of the COVID pandemic -19 and, in recent months, the uneven inflationary scenario exacerbated by the armed conflict between Russia and Ukraine.

Just a week ago, the ratified Governor of the Central Bank of the Dominican Republic, Héctor Valdez Albizu, highlighted that the activity of hotels, bars and restaurants has been the one with the greatest contribution to the growth of the Dominican economy during this year.

In this sense, he pointed out that tourism contributed 1.8 percentage points to the average expansion of 5.6 percent registered by the economy in the period January-June 2022, that is, a third of the growth experienced in the semester, with an increase in its real added value of 34.3%.

Valdez highlighted that this “remarkable performance” responds to the arrival of 3,547,143 travelers in January-June of this year, for an increase of 1,649,500 passengers (86.9%) in the first six months of 2022 compared to the same period of 2021.

He added that this favorable trend was reflected again in the arrival of non-resident passengers received in July 2022, reaching the figure of 735,064 tourists, breaking a record by being “the best month of July in all history”, according to the announced data. by the Minister of Tourism, David Collado.

As for the average hotel occupancy from January-June 2022, he said it was 72%, and in July, 75%.

In a press document, the Governor highlighted the “positive effect” that the policies implemented by the government to promote the sector have had.

Foreign exchange generation

In terms of income from tourism, according to what was indicated by the Central Bank, 4,121.5 million dollars entered the country in January-June 2022, exceeding the amount of 4,082.9 million dollars received in the same period of 2019, prior to the pandemic, as a reflection of the total recovery that the sector has registered.

Valdez anticipated that, if the recent trend continues until the end of this year, the “unprecedented” figure of 8.4 billion dollars would be reached for this concept.

He specified that foreign exchange earnings from tourism, together with the entry of remittances, contribute to maintaining a sustainable balance in the current account of the balance of payments and to maintaining exchange stability, “an important element to generate certainty in economic agents.” .

He said that 31% of Foreign Direct Investment (FDI) in 2021, that is, about 960 million dollars, were mainly used for the expansion and remodeling of tourism infrastructure, with a value close to 1,000 million dollars expected for this concept in said sector at the end of 2022.

98,389 tourists arrived in the Dominican Republic through cruise ships during the month of July.

The Minister of Tourism, David Collado, presented the data for July on August 1, which shows a decrease in the number of companies operating compared to the same month in 2021, going from 6,873 companies last year to 6,381 this year. year, for 492 companies less.

“Tourism in every corner”

Given the good results, and after two years of management, the Abinader government wants to maintain the momentum of this sector.

On August 3, and after the Minister of Tourism exposed the record of tourist visits for July, the “Tourism in every corner” program was launched, a platform that, according to the Government, seeks to promote and support the Dominican Republic tourism. It intends to publicize some internal products and development of communities.

Through the program, a multi-channel communication campaign will be carried out with the intention of motivating Dominicans to get to know their country better, enjoy the culture, landscapes and enjoy the people that make it up.

Good omens for tourism

During the delivery of a recognition from the Association of Hotels and Tourism of the Dominican Republic (Asonahores) to the Tourism Cabinet last week, President Luis Abinader predicted the continuation of the good times for Dominican tourism, due to the projects that are being executed under public-private alliances: the remodeling of the Colonial City, in Santo Domingo; the consolidation of Punta Cana, the relaunch of Puerto Plata and the Cabo Rojo de Pedernales project.