Government issues decree establishing a 10-year ban on sea turtles

The Executive Branch issued decree 285-23, establishing a 10-year ban on the capture, killing, egg collection, and commercialization of sea turtles.

Among them, whose common names are: Green Turtle, Hawksbill, Guacamo, and Tinglar.

This decree establishes that manufacturing, trading, and selling handicrafts made from the shells of the aforementioned turtles is prohibited.

Likewise, the Ministry of Environment and Natural Resources is instructed to make the corresponding adjustments in its internal processes to immediately initiate the application of this decree and notify the general public of the prohibition concerning the species of the family Chelonidae and Dermochelydae.

All-inclusive Dominican Republic hotels nominated for Travvy Awards 2023

Santo Domingo.- The Travvy Awards 2023 unveiled the nominees for the best all-inclusive resorts in the Caribbean, and lodging establishments in the Dominican Republic have several nominations. This year marks the ninth edition of the prestigious awards at the Greater Fort Lauderdale Broward County Convention Center on November 2.

Voting is officially open for this, so you can enter and choose your favorite tour operators and vacation packagers, car rentals, destinations, hotels, cruise ships and cruise lines, tourism boards, and more.

As “Best All-Inclusive Resort for Adults/Couples – Caribbean” nominees are:

Bahia Hermitage Antigua
Melia Punta Cana Beach Wellness Inclusive – Adults Only
Sanctuary Cap Cana
Sandals Grande Santa Lucia
Secrets Wild Orchid Montego Bay
TRS Turquesa Cap Cana Hotel

Meanwhile, as “Best All-Inclusive Family Resort – Caribbean”:

Playas Turks and Caicos Islands
Dreams Macao
Dreams Punta Cana Resort & Spa
Falcon Resorts by Meliá All Suites Punta Cana
Grand Palladium Jamaica Resort & Spa
Hyatt Ziva Cap Cana
Moon Palace Jamaica
Tropical Deluxe Princess Bavaro

As “Best Luxury All Inclusive Resort – Caribbean” are nominated:

Club Med Miches Playa Esmeralda- Dominican Republic
Hamaca Cove Antigua
Bahia Hermitage Antigua
Live Aqua Beach Resort Punta Cana
Margaritaville Cap Cana
Sanctuary Cap Cana
Secrets Wild Orchid Montego Bay

For “Best All Inclusive Wedding Resort”:

Sueños Playa Mujeres Resort
Grand Palladium Costa Mujeres Resort & Spa
Hotel Xcaret Arte
Hyatt Ziva Cancun
Sanctuary Cap Cana
Secrets Maroma

As “Best All Inclusive Resort – Spa & Wellness”:

Grand Palladium Costa Mujeres Resort & Spa
Hyatt Zilara Cap Cana
The Beach House
Le Blanc Spa Resort, Los Cabos
Secretos Bahia Mita Surf & Spa
The BodyHoliday – Santa Lucia
The Brando, Tetiaroa, Tahiti
Coral Hotel

And for the “Best All Inclusive General”:

Club Med Punta Cana
Dreams Riviera Cancun Resort & Spa
Grand Palladium Costa Mujeres Resort & Spa
Bahia Hermitage Antigua
La Casa de la Playa
Le Blanc Spa Resort, Los Cabos
Sanctuary Cap Cana
Secrets Impression Moxche
The Grand at Moon Palace Cancun

New York Comptroller announces they will invest pension funds in the Dominican Republic

New York.- Thomas DiNapoli, the New York State Comptroller, has announced progress in discussions regarding allocating a portion of the $350 billion available in New York pension funds for investment in development projects in the Dominican Republic. Accompanied by New York Transportation Commissioner Ydanis Rodríguez, Congressman Adriano Espaillat, Henry Garrido (Executive Director of the New York City Workers Union), and a committee of entrepreneurs who own significant Dominican companies and businesses in New York and the Dominican Republic, DiNapoli held a meeting in the Dominican Republic to explore investment opportunities.

Prior to the business meeting in Santo Domingo, DiNapoli was warmly welcomed by President Luis Abinader at the National Palace. DiNapoli expressed his appreciation for the economic and political stability that the country offers to investors like him. The potential investment focus areas discussed for the pension funds include agriculture, health, logistics, and others.

Following the meeting with the Dominican community, DiNapoli emphasized the importance of considering the perspectives heard from different sectors during their visit. The State of New York has a pension fund of $350 billion, the second-largest in the United States after California.

According to Ydanis Rodríguez, the presence of the New York State Comptroller in the Dominican Republic is part of an effort to connect the country with opportunities for inclusive and sustainable development. Congressman Adriano Espaillat highlighted DiNapoli’s significant role as the largest investor in New York. He mentioned that a similar investment model was used in the early stages of Punta Cana through lawyer and congressman Charles Rangel.

Henry Garrido, Executive Director of the New York Workers Union, described the business meeting in the Dominican Republic as historic, transformative, and promising for the country. He stated that the vision to invest New York pension funds in critical areas such as agriculture, low-cost housing, and energy began to take shape during a previous visit with then-Mayor-elect Eric Adams.

Other participants in the meeting included Raúl Hernández Báez, Technical Director of the Dominican Association of Pension Fund Administrators (Adafp), Sandy Filpo, President of the Santiago Merchants Association, and various other businessmen.

World2Fly flight to Santiago triggers tourist arrivals to Senator Puerto Plata

Puerto Plata, DR.- The direct link between Madrid-Santiago of World2Fly, an airline of the travel division of the Iberostar Group, has reactivated the arrival of tourists from Spain to the tourist destination of Puerto Plata.

Alejandro Castillo, general director of Senator Puerto Plata Spa Resort, explained to arecoa.com that this has benefited the lodging establishment because previously, there were no Spanish visitors from this market, and they are now receiving groups of visitors.

“Although the link began recently and only with a weekly frequency, with a view to increasing, it has been beneficial, since the airline’s operations are very important for us and for the destination,” he added.

As for occupancy, the executive said that for July and August, the Senator Hotel and the Playa Bachata Resorts have an average occupancy rate of 50% more than the same months of the past 2022.

He said this is due to visitors from Canada, Europe, and Germany, “and on weekends, the most important market is the local one, especially at the Playa Bachata hotel.”

Castillo also said that the establishments already have reservations of over 20% in sales for the next high season.

Industries contribute 58.5% to economic growth in the Dominican Republic

Santo Domingo.- The Dominican Republic experienced significant economic growth between 2021 and 2022, with the Ministry of Industry, Commerce, and MSMEs (MICM) playing a leading role in driving this expansion.

According to a study conducted by macroeconomics expert Magín J. Díaz and presented by the MICM, sectors such as free zones, local manufacturing, commerce, construction, transportation, storage, and other services contributed 58.5% to the overall economic growth during the mentioned period.

The study analyzed the contribution of MICM-related activities to the Dominican economy based on available statistics, focusing on five pillars: economic growth, foreign currency generation, labor market, contribution to the treasury, and productive chains.

Díaz highlighted the significant impact of these sectors on the economy, stating, “They were the sectors that fueled 60% of the economy. Not many sectors have exceeded their pre-COVID trends, with free zones being the most prominent, exceeding their trend by 10%.”

Magín Díaz presented these findings at an event commemorating the 57th anniversary of the Ministry of Industry, Commerce, and MSMEs. He pointed out that positive developments in foreign exchange-generating activities, including foreign direct investment and remittances, have contributed to exchange rate stability and bolstered the country’s gross international reserves, which represented 12.7% of GDP by the end of 2022, surpassing the International Monetary Fund’s recommended threshold of 10% of GDP.

The Minister of Industry, Commerce, and MSMEs, Víctor “Ito” Bisonó, shared insights from the study, stating that the economic sectors within the MICM’s scope accounted for two-thirds of total sales in the economy and over 60% of market production. He emphasized that these sectors contributed nearly 60% of the accumulated GDP growth between 2021 and 2022. Notably, the manufacturing industry in free zones exhibited a GDP growth rate 10% higher than its pre-pandemic trend.

Bisonó further highlighted the role of foreign direct investment in the Dominican Republic’s economic recovery, noting that almost 40% of the FDI received by the country during 2021-2022 was directed toward sectors under the MICM’s purview. Additionally, these sectors accounted for approximately 80% of the country’s goods exports during the same period.

Mariano Rivera and businessmen will invest US$100 million in a waste recovery plant in Samaná

Samana.- Former New York Yankees player and Major League Baseball Hall of Famer, Mariano Rivera, is set to make a $100 million investment in the Dominican Republic to contribute to the tourism and environmental development of the Samaná province. The investment will be directed toward the construction of the Northeast Valorization and Sanitary Landfill Plant, which will become the second CDR (Residue Derived Fuel) plant in the country.

The project aims to address the issue of solid waste in the Samaná and María Trinidad Sánchez provinces by treating and valorizing 450 tons of solid waste daily. The landfill plant will provide clean electricity generated from waste, contributing to sustainable tourism in the region.

The investment is being made through Constructora Maxter and the Panamanian company Figuro Corp (energy-42). Doménico Piacquadio, partner and general manager of Constructora Maxter, expressed their commitment to the province of Samaná and their desire to provide sustainable waste management solutions that eliminate open-air dumps. The initial investment in the Northeast Valorization and Sanitary Landfill Plant will be $8 million, with plans to invest $35 million in a second stage, eventually reaching $100 million.

Piacquadio highlighted Mariano Rivera’s passion for sustainable eco-tourism and his desire to positively contribute to the province. The project aims to promote sustainable waste management and respect for the environment in order to support the continued development of tourism.

Constructora Maxter focuses on comprehensive waste management and aims to improve public-private administration through frozen waste management prices for the next 20 years. The company operates within the circular economy, generating new raw materials from waste and transforming environmental liabilities into assets.

This philanthropic effort aligns with Mariano Rivera’s commitment to making a positive impact, both on the baseball field and through his philanthropic endeavors and gospel promotion. He previously visited the Dominican Republic in 2006, sharing his testimony of God’s work in his life during an event organized by the Tabernacle of Salvation Christian Church.

Government has granted loans in excess of RD$4.3 billion to young people for entrepreneurship

Santo Domingo.- Under the leadership of President Luis Abinader, the Dominican government, in collaboration with the Entrepreneurship Laboratory and the Fairs of the Ministry of Youth (MJ), has provided loans totaling more than RD$4.3 billion pesos to young people. This achievement marks a record in the creation and expansion of business ideas.

Benefitting a total of 51,784 young individuals between the ages of 18 and 35 across various provinces in the country, these loans were made possible through the National Council for the Promotion and Support of Micro, Small, and Medium Enterprises (Promipyme). The Entrepreneurship and Policies Laboratory of the First Youth Employment, in conjunction with the Ministry of Youth’s Entrepreneurship and Youth Fair, facilitated the allocation of funds and acted as a platform for young entrepreneurs to access offerings from various banking institutions.

The financial support provided has led to the creation of 35,627 jobs and the strengthening of 222,671 existing positions. This has made a significant impact on the job market, with a total of 258,298 jobs being positively affected from August 16, 2020, to June 5, 2023.

Minister of Youth, Rafael Jesús Féliz García, expressed his gratitude to President Abinader, describing him as the primary ally of Dominican youth due to his unwavering support.

“President Abinader has gone above and beyond in supporting the youth of our country like never before. He is a president who defends and empathizes with the Dominican youth,” said Minister Féliz García.

The funds provided by Promipyme were disbursed to eligible applicants under the category of “entrepreneurship loans,” further demonstrating the government’s commitment to fostering youth entrepreneurship and economic growth in the Dominican Republic.

Dominican Republic and Cuba seal agreement to expand flights between the two countries

Santo Domingo.- José Marte Piantini, president of the Civil Aviation Board (JAC), and Armando Luis Daniel López, president of the Institute of Civil Aeronautics of Cuba (IACC), signed an agreement that will allow a greater flow of flights between the DR and Cuba.

The agreement was signed by Eduardo Rodríguez Dávila, Minister of Transportation of the Republic of Cuba, and Juan Carlos Salazar, Secretary General of the International Civil Aviation Organization (ICAO).

The document’s signing concludes the negotiations initiated through the Civil Aviation Board. It updates the agreement signed in Havana, Cuba, on December 9, 2005, with modifications to Article 3, which contains the provisions governing the designation and authorization of air operators between the two Caribbean territories.

At the beginning of the signing of the protocol, Marte Piantini indicated that the objective of updating the document signed 18 years ago was to increase the flow of passengers, commerce, connectivity, and, consequently, air transportation between the territories.

He added that “the signing of the agreement will generate benefits for air operators flying between Cuba and the Dominican Republic, two of the most important economies in the Caribbean, which now bring their commercial aviation relationship closer together.”

The JAC president stressed that the new document updates the commercial aviation relations between Cuba and the Dominican Republic, allowing multiple designations so that “all national airlines can operate air transport services of passengers, baggage, and cargo from the national territory to Cuba and vice versa.

The agreement between the two countries only allowed the designation of two airlines to each country, said José Marte Piantini, during the celebration of the Eleventh Meeting of Directors of Civil Aviation of North America, Central America, and the Caribbean, an event organized by the ICAO Regional Office.

The official explained that “from the JAC, we continue working to realize the promise of the President of the Republic Luis Abinader, to turn the country into the hub of international air cargo with greater connection in the Caribbean through the updating of air services agreements and the negotiation of new agreements.”

At the meeting, the aeronautical authorities also proceeded to sign meeting minutes to analyze the capacity of air services between both States, the market’s current needs, and to increase the number of flights between both territories.

About frequencies, the document establishes the commitment to develop unlimited frequencies for the operation of air services in the routes contemplated in the annex of the agreement.

It also stated that, in the case of Havana’s José Martí International Airport, Dominican Airlines would be able to increase their frequencies to that destination.

Dominican-Cuban connectivity
According to information provided by the Statistics Division of the Air Transport Department of the JAC, it is projected that by the end of this year, 36 thousand passengers will be transported through the airport terminals, representing an increase of 32% compared to 2022.

Marte Piantini emphasized that “Cuba is the seventh most active Caribbean market for the Dominican Republic in terms of passenger transportation among the connections in the Caribbean.”

He pointed out that in the first five months of 2023, 11,000 passengers have been transported on commercial flights to and from Cuba.

136 flight operations scheduled at Las Americas this Friday

Santo Domingo.- The influx of domestic and foreign passengers leaving and entering the country has increased considerably in the last few days due to the summer season when hundreds of families leave the country for trips abroad after the end of the school and university term in the country.

According to the data, more than 50% of the visitors are departing and arriving from cities in the United States, such as New York, Miami, Florida, San Juan, Puerto Rico, Orlando, Fort Lauderdale, Boston, New Jersey, and other U.S. states.

Passengers are also arriving and departing on flights from cities in Europe, France, Italy, Germany, Spain, and Canada and from South and Central America and the Caribbean.

In that order, the Department of Flight Operations of Aeropuertos Dominicanos XXI (Aerodom) reported that 136 flights were scheduled to operate this Friday, 76 of them arriving from abroad through Las Americas International Airport and 60 departing to these different destinations.

Meanwhile, Air Europa, Iberia, Condor, JetBlue, American Airlines, United Airlines, Copa, and Delta, among others, are arriving full of passengers who have the Dominican Republic as the preferred country to enjoy the rest period.

According to preliminary data, the leading airlines that operate regular and additional flights to and from the Dominican Republic maintain an occupancy factor between 90 and 95% of their seats for the current summer vacation season.

It was also observed that the flights arriving and departing the country this Friday are leaving with a considerable occupancy factor, mainly those coming from cities in the United States and the European continent.

Meanwhile, at the airport, in front of the airline counters, a considerable number of people were waiting in line to make their reservations for scheduled flights.

Meanwhile, the institutions that offer services to travelers in the terminal, such as the personnel of the General Directorate of Immigration and Customs, set up unique tables for the quick check of tourists, among which there are entire families, especially French and Spanish.

Vacationers are heading to Boca Chica, Juan Dolio, La Romana, Punta Cana, Bavaro, and other tourist areas, as confirmed by the representatives of the operating and hotel companies, where more than 80% of the tourists will stay.

Clinic for North American veterans opens in Bávaro – Punta Cana

Bávaro, Punta Cana.- Retired veterans of the United States Armed Forces who visit the Bávaro-Punta Cana area have an outpatient clinic at their service.

With the objective of improving their health and well-being, and honoring their sacrifices, the Veterans Community Care Abroad clinic was inaugurated on Avenida España, Corner Plaza, Bávaro.

Alfredo Cordero, retired Army captain and clinic executive, explained that this center is at the service of veterans who served the US for more than 120 days and who reside in the Dominican Republic, however, they are ready to receive active or retired Dominican soldiers, as well as other members of the local community on specific days.

Medical services are free of charge, as they are managed through a program of the US Armed Forces.

The clinic is an outpatient clinic that goes from an initial intervention with a general practitioner who deduces what conditions veterans suffer from, which have been produced or aggravated during military service.

General medicine, psychology, and rehabilitation of physical therapies are offered, as well as therapeutic and relaxing massages, psychiatry, and orthopedics, among other services.

Opening hours are Monday through Friday from 9:00 a.m. to 5:00 p.m. to 5:00 p.m. and Saturdays from 9:00 a.m. to 1:00 p.m.
Phone: (809) 795-1198
WA: (809) 841-1198
Website: www.vccavet.com

The Dominican Republic registers the highest energy demand in its history

Santo Domingo.- Homero Figueroa, the spokesman, and director of Strategy and Communication of the Presidency, took to Twitter on Tuesday to announce a major milestone in the country’s electricity sector. He revealed that the sector had witnessed the highest demand in its history the previous night, with a total of 3,430.42 MW served. This achievement demonstrates the remarkable response capacity of the national electrical system.

Figueroa expressed his enthusiasm, stating, “Today, more energy is generated and supplied than ever before.” He emphasized the growth and strength of the country’s energy sector, which has played a pivotal role in meeting the increasing demand for electricity.

Furthermore, Figueroa highlighted that the national electricity system currently supplies an average of 98% of the daily electricity demand. This level of supply exceeds the performance of previous years when the average energy supply did not surpass 85% between 2004 and 2019.

These statistics underscore the significant progress made in the country’s power generation and supply capacity. The rise in energy demand serves as an indicator of growth and development, while the ability of the electricity system to meet this demand reflects its robustness and efficiency.

Concluding his announcement, the spokesman for the Presidency assured that the country’s electricity sector is now stronger than ever and well-prepared to tackle future challenges that may arise.

Mitur: investments in real estate tourism amount to US$10.7 billion

Santo Domingo.- Investments in tourist constructions in the Dominican Republic have reached a total of $10.799 billion, with real estate projects leading the way, according to Jacqueline Mora, the Vice Minister of Tourism. So far, the Tourism Development Council (Confotur) has approved 187 investment projects in the country.

During a speech at the second Expo Forum of Culture, Strategies, Business, and Innovation (CENI) in Santiago, Mora highlighted that real estate investment tops the list with $4.527 billion, followed by the hotel sector with $4.444 billion, and infrastructure in third place with $756 million.

Mora further explained that the accumulated foreign direct investment in the tourism and real estate sectors accounted for 37% of the total accumulated foreign investment in 2022, amounting to $13.144 billion.

Analyzing these figures and other indicators, Mora emphasized the need to continue promoting the tourism and construction sectors, as they represent the future of the country and are vital for its development. She noted that construction plays a crucial role in supporting tourism infrastructure and acknowledged the pioneering role of Ciudad Corazón (Santiago) in real estate tourism.

Mora also took the opportunity to highlight the achievements of the Ministry of Tourism (Mitur) during the three years of the current government’s management.

Puerto Plata, magnet for cruises: will receive 30 vessels in July

Puerto Plata.- Puerto Plata is set to welcome a total of 30 cruise ships during the month of July. The arrivals will take place through the Amber Cove and Taino Bay tourist ports, as indicated by Atahualpa Paulino, the northern regional director of tourism.

Out of the 30 ships scheduled to arrive, 16 will dock at the Amber Cove Port, which is owned by the Carnival Corporation. The remaining 14 ships will arrive through the Taino Bay Port, which belongs to the ITM Group.

Despite being in the low season for the cruise tourism sector in the Caribbean, Puerto Plata continues to attract a significant number of cruise ships. This demonstrates the destination’s appeal and popularity among cruise lines.

Dominican Republic breaks record of passengers by air in the first 5 months of the year

Santo Domingo.- The Civil Aviation Board (JAC) announced on Tuesday that the Dominican Republic has achieved a significant milestone in air transportation. Between January and May of this year, a record-breaking 7,180,905 passengers were transported to and from the country. This figure represents a remarkable 17% growth compared to the same period last year.

José Marte Piantini, the president of the JAC, expressed his satisfaction with the progress and stated that air transport in the country has experienced rapid development since August 2020, becoming the growth leader in the region. He also mentioned that the government’s implemented policies, under the Civil Aviation Board, have played a crucial role in establishing air transport as a competitive sector. These policies include a comprehensive set of measures aimed at increasing traveler flows to and from the country.

Piantini further revealed that the Punta Cana Airport has been the busiest, serving as a gateway for 4,069,335 passengers during the first five months of 2023. Las Américas Airport follows closely behind with 2,062,795 passengers. These two airports alone account for 83% of the total passenger traffic in and out of the country. The Cibao Airport transported 772,692 passengers, while the Puerto Plata Airport served 362,421 passengers during the same period.

Emphasizing the commitment to improving air connectivity, Piantini mentioned the collaborative efforts of the JAC with other institutions in the sector. One notable achievement is the recent agreement signed with Cuba, enabling additional Dominican airlines to enter the Cuban market, which was previously limited to only two operators.

The strategic approach of the JAC has resulted in the establishment of new airlines, the introduction of new routes, and the formation of new agreements. Consequently, more travelers are choosing the Dominican Republic as their preferred destination. Piantini expressed optimism, stating that the country aims to surpass the milestone of 17 million passengers transported through its airport terminals by the end of this year.

Dominican Republic wins award as best tourist destination in the Caribbean

Philadelphia, United States.– Tourism Minister David Collado received here Wednesday an award recognizing the Dominican Republic as the Best Caribbean Island as a tourist destination.

The prestigious recognition was announced at the Leisure Lifestyle Awards by U.S.-based travel magazine Global Traveler.

Minister Collado expressed his gratitude for the award, which has been given to the Dominican Republic for the past three years.

“This new award belongs to all the people who every day welcome tourists with their smile and unique kindness, my people of the Dominican Republic,” Collado emphasized.

This award from Leisure Lifestyle Awards adds to the string of recognition the country has received for its overwhelming tourism success story over the past three years.

Among these recognitions, the World Tourism Organization (WTO) declared the Dominican Republic as the first country in the world to achieve full recovery after the pandemic.

More than 600,000 tourists use the Uber app in the Dominican Republic

Santo Domingo.- The Uber platform has become a popular choice for tourists visiting the Dominican Republic, offering convenient transportation options and access to a diverse range of services. Since its introduction in the country, over 600,000 tourists have utilized Uber for their transportation needs, covering a total distance of more than 43 million kilometers. Additionally, through the Uber Eats app, approximately 119,000 tourists have placed over 900,000 food orders.

Carolina Coto, Uber’s Communications Manager for Central America and the Caribbean, expressed the company’s commitment to promoting tourism in the Dominican Republic and providing accessible solutions for both locals and visitors. Uber aims to enhance vacation experiences by revolutionizing transportation and catering to the daily needs of users and businesses.

Uber has become an integral part of the tourism landscape in the Dominican Republic. Notably, more than 900,000 trips have been taken by tourists to and from Las Américas International Airport. The platform is particularly popular among visitors from the United States, Colombia, Mexico, Canada, and Brazil, who also account for the highest number of orders through the Uber Eats app.

Among the top destinations frequented by tourists are Multicentro Churchill, the Colonial Zone, and the Sheraton Santo Domingo Hotel. The positive experience of tourists is evident as 94% of drivers have given them a 5-star rating during their trips.

Tourism, among the sectors that grew the most between January-May in the Dominican Republic

The Dominican Ministry of Economy has reported an increase in tourism, trade, and agricultural exports in the country during the period of January to May, highlighting the positive performance of these sectors so far this year.

In May, the tourism sector showed positive data with 518,932 non-resident foreigners arriving in the country, representing a 14.5% increase compared to the same month of the previous year. The total number of visitors for the year reached 2.8 million, marking a 20.3% year-on-year variation.

Agricultural exports also experienced growth, reaching $93.9 million in May, a 16.1% increase compared to the previous year. The total agricultural exports for the year amounted to $358 million, with a 3.5% year-on-year variation. This growth can be attributed to increased exports of cocoa beans to Malaysia and Indonesia, as well as preserved fruits to the Netherlands.

The report also indicates that there were 2,282,972 active workers in the Dominican Social Security System (SDSS) in May, reflecting a cumulative growth of 0.6% compared to December 2022. In addition, formal job registrations increased by 0.5% in May compared to December.

These positive indicators reflect the resilience and performance of the Dominican Republic’s economy in key sectors such as tourism, trade, and agriculture.

Industries contribute 58.5% to economic growth in the Dominican Republic

Santo Domingo.- The Dominican Republic experienced significant economic growth between 2021 and 2022, with the Ministry of Industry, Commerce, and MSMEs (MICM) playing a leading role in driving this expansion.

According to a study conducted by macroeconomics expert Magín J. Díaz and presented by the MICM, sectors such as free zones, local manufacturing, commerce, construction, transportation, storage, and other services contributed 58.5% to the overall economic growth during the mentioned period.

The study analyzed the contribution of MICM-related activities to the Dominican economy based on available statistics, focusing on five pillars: economic growth, foreign currency generation, labor market, contribution to the treasury, and productive chains.

Díaz highlighted the significant impact of these sectors on the economy, stating, “They were the sectors that fueled 60% of the economy. Not many sectors have exceeded their pre-COVID trends, with free zones being the most prominent, exceeding their trend by 10%.”

Magín Díaz presented these findings at an event commemorating the 57th anniversary of the Ministry of Industry, Commerce, and MSMEs. He pointed out that positive developments in foreign exchange-generating activities, including foreign direct investment and remittances, have contributed to exchange rate stability and bolstered the country’s gross international reserves, which represented 12.7% of GDP by the end of 2022, surpassing the International Monetary Fund’s recommended threshold of 10% of GDP.

The Minister of Industry, Commerce, and MSMEs, Víctor “Ito” Bisonó, shared insights from the study, stating that the economic sectors within the MICM’s scope accounted for two-thirds of total sales in the economy and over 60% of market production. He emphasized that these sectors contributed nearly 60% of the accumulated GDP growth between 2021 and 2022. Notably, the manufacturing industry in free zones exhibited a GDP growth rate 10% higher than its pre-pandemic trend.

Bisonó further highlighted the role of foreign direct investment in the Dominican Republic’s economic recovery, noting that almost 40% of the FDI received by the country during 2021-2022 was directed toward sectors under the MICM’s purview. Additionally, these sectors accounted for approximately 80% of the country’s goods exports during the same period.

The Dominican Republic surpasses Brazil and Argentina in capturing income from tourism

Santo Domingo.- In 2022, the Dominican Republic achieved an impressive milestone by surpassing the economies of countries twice its size. It emerged as the third highest earner of foreign currency through tourism, outperforming Brazil by nearly 50% and Argentina by over 130%. It even exceeded the combined tourism revenues of five Central American countries.

Andrés Marranzini, the executive vice president of the Association of Hotels and Tourism (Asonahores), attributes this achievement to the country’s diverse tourist offerings. Each day, the Dominican Republic is expanding its range of hotels and introducing new activities such as horseback riding in the ocean or golf courses.

“As a sector, we have been working hard in recent years to increase the daily expenditure of each tourist. One way to accomplish this is by incorporating additional activities and services within the tourist destinations. This provides visitors with more opportunities to spend money and enhances their overall experience within the tourism ecosystem,” explained Marranzini.

He emphasized that the strategy is focused on elevating the quality of the tourist destinations. This is being accomplished through investments in hotels, as reported by El Dinero, ensuring that continuous improvements are made to meet the evolving demands and expectations of travelers.

Dominican Republic wins award as best tourist destination in the Caribbean

Philadelphia, United States.– Tourism Minister David Collado received here Wednesday an award recognizing the Dominican Republic as the Best Caribbean Island as a tourist destination.

The prestigious recognition was announced at the Leisure Lifestyle Awards by U.S.-based travel magazine Global Traveler.

Minister Collado expressed his gratitude for the award, which has been given to the Dominican Republic for the past three years.

“This new award belongs to all the people who every day welcome tourists with their smile and unique kindness, my people of the Dominican Republic,” Collado emphasized.

This award from Leisure Lifestyle Awards adds to the string of recognition the country has received for its overwhelming tourism success story over the past three years.

Among these recognitions, the World Tourism Organization (WTO) declared the Dominican Republic as the first country in the world to achieve full recovery after the pandemic.