Confotur approved 42 real estate projects for an investment of US$1,567 million

Brenda Morales, of Confotur, states that tourism will generate US$2.45 billion in foreign exchange

In order to receive 10 million Dominicans, rooms and real estate complexes are needed to allow them to spend an average of eight days in the Dominican Republic. Brenda Morales, director of the Tourism Development Council (Confotur), assured that 42 projects have been approved with an investment of US$1,567 million. These constructions will add 9,260 rooms to the country’s housing offer.

“We must take care of our investments. The recovery is over, we must think of new ways to sell our country in a sustainable way in the long term”, she said during her participation in the Economic and Legal Impact of Real Estate Tourism congress. For the official, foreign direct investment in this sector translates into US$9,841 million between 2020 and 2023, more than 55,772 rooms under construction and the generation of 179,000 direct jobs.

Law 158-01 is based on the Promotion of Tourism Development in the Dominican Republic, through incentives and tax exemptions for a period of time. The law must be improved, but it will be done when the time comes and a dialogue table is established between the public and private sectors to work together for the benefit of all Dominicans,” he said.

“The offer must be diversified and the tourist is the one who sets the tone, but the impact on the real estate sector is to provide experiences,” he said. However, he assured that the great challenge of the travel and tourism industry is to invest in the Dominican Republic.