Tourism contributes more than US$ 9 billion in foreign investment in three years

According to CONFOTUR, the attraction of foreign capital to tourism has generated 179,000 direct and indirect jobs in the local tourism industry.

The added value that tourism contributes to the Dominican economy continues to grow steadily. In the last three years alone, foreign investment in tourism was 9,481 million dollars, which has translated into more than 55,772 rooms under construction for tourism purposes.

According to Brenda Morales, director of the Tourism Development Council (Confotur), the dynamism of the sector allows estimating that foreign tourism investment will contribute 20 billion pesos in taxes alone in the next 10 years.

During her speech at the First Real Estate Tourism Forum, organized by the Dominican Association of Tourism Real Estate Companies (ADETI), the official said that the sector will add more than 2.45 billion dollars in foreign exchange over the next decade.

“We are doing well. The recovery is over; let’s think about investment. Let’s think of new ways to offer our country,” she said.

Impact on tourism activity

According to Confotur’s data, the attraction of foreign capital in this sector has stimulated:

-Arrival of 1,936,857 tourists.

-73% increase in current hotel occupancy.

-Arrival of 16,606 flights to the Dominican Republic.

-Generation of 179,000 direct and indirect jobs in the local tourism industry.