Association of Banks reports 44% growth in credit to builders for 2023

Santo Domingo.- The Association of Multiple Banks of the Dominican Republic (ABA) reported a significant increase in the credit portfolio for the construction sector. The portfolio surged by RD$30,118 million, marking a 44% rise, reaching RD$97,877 million by the end of 2023, compared to RD$67,759 million in 2022.

The growth was attributed to the contributions from the banks’ own funds and legal reserve resources released by monetary authorities to support the construction sector. A total of 2,059 new loans were extended, contributing to the existing 18,481 credits at the end of 2023.

Commercial banking constituted 82.8% of the funds allocated for construction financing. This type of interim financing, disbursed gradually as construction progresses, supports construction companies in acquiring materials, covering labor costs, and addressing other project-related expenses.

Simultaneously, financing for home acquisition witnessed a substantial increase of RD$35,944 million, representing a 19% relative growth. The mortgage loan portfolio expanded from RD$190,596 million in 2022 to RD$226,541 million at the close of 2023. This increment was facilitated through 9,347 new loans, doubling the operations compared to the previous year.

The breakdown of mortgage loans included RD$188,153 million (83%) for the acquisition of the debtor’s home, RD$24,999 million (11%) for the purchase of low-cost housing from a trust, RD$10,341 million (4.5%) for the acquisition of a second home or summer vacation, and RD$3,048 million (1.5%) for remodeling and construction of homes.

The ABA emphasized the banking sector’s role as the primary source of resources for home acquisition, constituting 65.8% of the total mortgage portfolio. The union reiterated the commitment of commercial banks to support construction, acquisition, and remodeling initiatives, such as the Happy Housing program, to alleviate the housing deficit and enhance citizens’ quality of life.

DATE 2024 announced: the largest Dominican tourism fair

Santo Domingo.- The Hotel and Tourism Association of the Dominican Republic (Asonahores) has officially announced the upcoming twenty-fourth edition of the Dominican Annual Tourism Exchange, DATE 2024. The event is scheduled to take place from April 24 to 26 at the esteemed Paradisus Palma Real hotel.

Asonahores President, David Llibre, emphasized the significance of DATE as the primary marketing platform for the Dominican tourism product and its complementary offerings. The objective is to continually enhance and diversify the influx of visitors to the Dominican Republic.

Llibre highlighted the favorable tourism climate, with the Dominican Republic having surpassed 10 million visitors. However, he acknowledged the challenge of maintaining and expanding this figure, aiming to strengthen the country’s leadership in the region.

Aguie Lendor, Executive Vice President of Asonahores, outlined the focus areas for DATE 2024, which include highlighting golf, medical, diving, wedding, adventure, and ecotourism. These segments will be showcased to attract buyers from key specialized markets, complementing the well-established sun and beach tourism offerings.

Lendor detailed the efforts in crafting the event agenda for DATE 2024 to ensure a memorable experience and commercial success for all attendees. The agenda includes daily business meetings, exhibitions, cultural activities, press conferences, and themed parties.

DATE 2024 aims to support the diverse segments within the Dominican tourism product, enabling suppliers to actively engage with specialized buyers. The event seeks to facilitate productive business meetings that align with the various offerings of the Dominican Republic.

In addition to the main event, special activities have been planned, including a welcome cocktail hosted by Karisma Hotels & Resorts on April 23, an opening cocktail on April 24 at Paradisus Palma Real, and the closing activity on April 25 at Secrets Tides Punta Cana hotel.

Francisco Camps Orfila, Managing Director of Meliá Hotels International in the Dominican Republic, expressed deep gratitude for the opportunity to host DATE 2024 at Paradisus Palma Real. He pledged the hotel’s commitment to providing an unforgettable experience for all participants, underscoring the event’s importance to the country’s tourism industry.

Abinader affirms commitment to safeguard agriculture under DR-Cafta

Santo Domingo.- President Luis Abinader announced that the Dominican Government is actively seeking alternatives to safeguard national agricultural production, a pursuit that has continued for 18 years since the inception of the Free Trade Agreement among the United States, Central America, and the Dominican Republic (DR-Cafta).

He emphasized the urgency of addressing this matter swiftly to develop a viable solution by 2025, ensuring it does not adversely impact the national productive system while guaranteeing food security.

During a gathering of key stakeholders today, the president reassured the Dominican people that significant progress is being made, and he pledged to have the situation fully resolved by 2025.

President Abinader pointed out that despite the calendar ending in January 2025, the rules outlined in the agreement would persist as long as the Dominican Republic remains a member of DR-Cafta. He clarified that only products from countries within the Agreement would enjoy tariff-free entry into the country.

Specifically addressing the issue of rice, he mentioned that alternative measures are under consideration, aligning with the commitments of the Dominican State within both the treaty and the World Trade Organization (WTO).

Recognizing the importance of rice as a staple in the country’s diet, with production spanning over 20 provinces and involving more than 30,000 producers, the government is implementing measures to streamline production processes and facilitate farmers’ access to more affordable credit.

President Abinader conveyed these developments while participating in LA Semanal con la Prensa, where he elaborated on various issues of national significance with multiple media outlets.

CIFI Latam commits $15 Million to Four Seasons Resort in the Dominican Republic

Miches, DR.- CIFI Latam, SA, a non-banking financial entity based in Panama, has received an invitation from IDB Invest to contribute $15 million towards financing Inversiones Costa Elocuente SAS (ICE) for the construction and operation of a tourist complex in the Dominican Republic. The investment plan for this project, known as the Four Seasons Resort and Residences within the Tropicalia complex, amounts to $212 million.

Tropicalia, featuring 95 rooms and 25 private residences, aspires to provide a nature-immersive experience without compromising on comfort and luxury. The anticipated opening date for this eco-friendly project is set for 2026.

Verónica Villacis, ESG officer at CIFI, expressed pride in participating in a project that not only contributes to the tourism surge in the Dominican Republic but also implements environmental measures and a biodiversity management plan. This emphasis on sustainability positions the project as a commendable green investment.

The Four Seasons in Tropicalia is not just focused on elevating luxury hospitality standards; it also aims to set an unprecedented milestone in environmental sustainability and socioeconomic inclusion. With plans to generate nearly 2,000 jobs during the construction phase, the project is expected to significantly boost the economy, foster market inclusion and interaction, and contribute to community progress. Miches is anticipated to emerge as the new luxury destination in the Dominican Republic with the development of this transformative project.

ProDominicana: Cibao’s January exports hit record $232M

Santo Domingo.- In January of this year, exports from the northern region totaled US$232 million, involving 663 products from 283 export companies reaching 79 international markets, as reported by the Export and Investment Center of the Dominican Republic (ProDominicana).

Over the period from 2019 to 2023, the Cibao region has exported a substantial US$19,308.4 million, spanning 2,761 products through 763 export companies to 158 international markets, according to ProDominicana.

The leading provinces in terms of exports are Sánchez Ramírez, contributing 37.3% to the overall export figure, followed by Santiago with 35.1%, and Monseñor Nouel with 13.5%, as detailed during an agreement signing with the Association of Industrialists of the Northern Region (Airen). The collaboration aims to unite efforts and bolster the economic development of industries in the area.

Biviana Riveiro, executive director of ProDominicana, and Juan Bautista, president of the board of directors of Airen, signed the agreement. Riveiro emphasized the objective of promoting the participation of affiliated businessmen in fairs and trade missions, facilitating their presence in strategic events for market expansion.

Additionally, Riveiro reported that total exports for January 2024 reached a historic high of US$847.8 million. This notable performance is attributed to a 57.6% increase in raw gold exports. Furthermore, significant interannual growth was observed in the electrodiagnostic devices sector, with a surge of 180.5%, amounting to US$21.1 million, and solid-state cane sugar, experiencing remarkable 261.5% growth equivalent to US$16.8 million.

PRM secures overwhelming victory in 2024 municipal elections

Santo domingo.- The conclusion of the 16-hour continuous coverage on the “Electoral Battle 2024: municipal elections,” led by journalist Alicia Ortega and a panel of experts, underscored the decisive triumph of the Modern Revolutionary Party (PRM) over the opposition, along with a notable increase in electoral abstention.

Historian and analyst Bernardo Vega expressed concern over the opposition’s significant losses in Santiago and Santo Domingo Norte, considering them detrimental to a faction that initially held 52 out of 158 mayoralties. Vega predicted a diminishing role for the opposition in the years to come.

The initial electoral bulletin from the Central Electoral Board, released at 8:00 pm, indicated a clear trend favoring the PRM, securing victories in key regions such as the National District, Santo Domingo Este, Santo Domingo Norte, Los Alcarrizo, Santiago, La Vega, San Francisco de Macorís, and San Cristóbal—major political hubs due to their dense population.

Political scientist Rosario Espinal emphasized the projected high abstention in these elections, surpassing the levels observed in 2020 during the pandemic. Espinal attributed the opposition’s lackluster performance to being “derailed, divided, without direction, and failing to motivate voters.” According to Espinal, this is particularly evident among voters of the PLD (Dominican Liberation Party), who seem uncertain about their course of action.

Espinal cautioned that while the election results favor the government, they should serve as a wake-up call. He pointed out that both the opposition and the government need to enhance their efforts in motivating voters, as persistently high abstention rates could pose a challenge for the PRM to expand its voting base.

Looking ahead to the presidential elections, Espinal identified the challenge for Luis Abinader as the need to broaden his electoral base. He emphasized the importance of not only winning power but also legitimizing it by mobilizing a significant electoral support base.

Journalist Patricia Solano added her perspective, stating that “abstention won” due to parties and politicians failing to connect with the people. She criticized the political discourse, noting that politicians often communicate amongst themselves without addressing the crucial issues that concern the public. Solano concluded by urging self-reflection and a commitment to discussing matters of genuine interest to the people during campaigns.

New travel magazine launch: ‘Por Ahí Dominican Republic’

Santo Domingo.- Journalist Jessica Leonor and photographer Randy Ramírez have unveiled the travel magazine “Por Ahí República Dominicana,” with the aim of showcasing destinations, their people, gastronomy, and unique experiences.

Randy Ramírez, the director of Por Ahí RD, highlighted the magazine’s focus on four core columns: “experiences, destinations, people, and gastronomy.” He emphasized the importance of understanding the value chain that makes up each place, including the beliefs and special qualities that give them particular significance.

The project commenced in April 2023 on social networks and, after nine months, expanded to include an official website, www.porahird.com.

Jessica Leonor, the magazine’s editor, described Por Ahí RD as a guide for travelers, adventurers, explorers, and experience enthusiasts, encouraging others to embark on their own journeys.

Leonor emphasized the goal of sharing each story from a first-person perspective, recognizing the modern and simple formats that have become relevant in user consumption today.

The magazine launch attracted journalists, artists, and travel enthusiasts, who were taken on a visual journey through different national destinations guided by artist Jadell Santana. Santana, a specialist in capturing the beauty of landscapes and human figures, uses a versatile palette ranging from acrylics to oils and watercolors.

The vibrant launch event took place at Vibras Lounge, an inviting space adorned with murals and offering a fusion menu with various drinks.

The successful launch received support from various individuals and entities, including artist Jadell Santana, Laura Ramos (CEO of Vibras Lounge and Lala Events), Maylin Dionicio (communication advisor), Jenifer Tejeda (visual communication specialist), Kevin Rivas (photographer), Midas Project (personalized gifts), artist Manuel Shoo, and violinist José Manuel Leonor.

Dominican Republic evaluates airlines’ special permit requests

Punta Cana.- During the third regular session of this year, the plenary session members were briefed on requests for new special permits to introduce additional operations into the Dominican territory, according to the president of the Civil Aviation Board (JAC), José Marte Piantini. The requests were made by Sunwing Airlines, Sky High Aviation Services, Delta Air Lines, Frontier, and United Parcel Service.

Specifically, the plenary session reviewed a special permit request from Sunwing Airlines for routes such as Newark/Punta Cana/Newark, Buffalo/Punta Cana/Buffalo, Detroit/Punta Cana/Detroit, Detroit/Punta Cana/Cincinnati, Cincinnati/Punta Cana/Cincinnati, and others. The requested period for these operations is from February 17, 2024, to April 7, 2024.

Sky High Aviation Services, a national air operator, submitted a request for a special permit to conduct 79 round-trip flights on the Santo Domingo/El Salvador/Santo Domingo route. The proposed frequency is three flights per week on Tuesdays, Thursdays, and Sundays, with operations scheduled from March 19 to September 18, 2024.

Another special permit request from Sunwing Airlines was presented for routes such as Newark/Punta Cana/Newark, Buffalo/Punta Cana/Buffalo, Detroit/Punta Cana/Detroit, Detroit/Punta Cana/Cincinnati, Cincinnati/Punta Cana/Cincinnati, and others, covering the period from February 17, 2024, to April 7, 2024.

The plenary session members also reviewed a request from the foreign air operator Frontier to operate 202 round-trip flights on various routes, including Cleveland/Punta Cana/Orlando, Orlando/Punta Cana/Cleveland, Philadelphia/Punta Cana/St. Louis, St. Louis/Punta Cana/Philadelphia, San Juan/Punta Cana/Cleveland, San Juan/Punta Cana/St. Louis, St. Louis/Punta Cana/San Juan, and Cleveland/Punta Cana/San Juan, scheduled from February 1 to April 15, 2024.

Additionally, the session considered Delta Air Lines’ requests for flights on routes such as Fort Myers/Santo Domingo/Atlanta, Atlanta/Santo Domingo/Fort Myers, and Sarasota/Santo Domingo/Atlanta, set to take place from March 8 to March 10, 2024.

Finally, the plenary session members were informed about United Parcel Services’ request for a special permit to conduct cargo flights on the San Juan/Santo Domingo/Miami route, starting on March 4, 2024.

Election Day on February 18 is non-working

Santo Domingo.- The Ministry of Labor issued a timely reminder on Thursday, emphasizing that the upcoming Sunday, February 18, designated for the 2024 municipal elections, is officially recognized as a non-working day, as per the provisions outlined in Article 229 of the Law on the Electoral Regime. According to this article, “the day on which elections are held will not be a working day in the territory in which they are to be held.”

In light of this statutory requirement, the Ministry of Labor is urging employers to adhere to their obligation to facilitate their workers in the exercise of their fundamental right to vote. This is particularly crucial in instances where the nature of the work does not allow for its suspension. In such cases, employers are encouraged to adopt measures that enable their employees to participate in the electoral process without hindrance.

Furthermore, the Ministry of Labor has issued a stern warning against any attempts to curtail the rights of employees during this period. Employers are reminded that collaborators should not experience any reduction in their salaries or encounter any adverse effects on their employment rights due to their engagement in the electoral process.

The ministry’s proactive communication serves as a reinforcement of the legal framework designed to ensure the smooth functioning of the democratic process. By providing clear guidelines on the non-working status of the election day and emphasizing the importance of facilitating employees’ right to vote, the Ministry of Labor plays a vital role in upholding the principles of democratic participation and workers’ rights during electoral events.

Cabarete beach hosts world surfing tournament

Cabarete, DR.- The stunning Cabarete beach has transformed into the global hub of surfing with the thrilling commencement of the “Surf and Wind City Cabarete Pro” tournament. Attracting top surfers worldwide, this premier event showcases a captivating display of skill and agility, both on the waves and in the wind.

The opening day unfolded with spectacular action, delivering a paradise-powered experience to the gathered spectators. Surfers exhibited breathtaking aerial maneuvers, conquered waves with exceptional prowess, and courageously faced challenging winds that tested their abilities.

The round of 16, featuring 56 and 48 competitors, provided intense moments filled with emotion and adrenaline. Each wave and maneuver demonstrated precision and passion, reflecting the dedication and talent of the participants. The outcomes have built palpable anticipation for the upcoming confrontations, promising even more excitement.

The next round of competitions is set for tomorrow at 8:30 am AST, as surfers gear up to once again challenge the waves and vie for the coveted title of champion in this prestigious tournament.

The organizers of the “Surf and Wind City Cabarete Pro” extend their gratitude to participants, sponsors, and the vibrant local community for their unwavering support. This event not only showcases the natural beauty of Cabarete but also enhances the Dominican Republic’s reputation as a world-class surf destination.

Genera ITM Foundation for sustainable tourism and community development

Grupo ITM, specializing in constructing and operating cruise ports, has introduced the Genera ITM Foundation, aligning with a vision for sustainable tourism and a commitment to present and future generations. This second-tier foundation focuses on enhancing the quality of life in communities associated with the Group’s projects in Puerto Plata, Pedernales, and soon Samaná. Its primary goals include fostering sustainable local tourism, environmental conservation, and ocean protection.

The strategic initiatives of the Genera ITM Foundation are geared towards creating meaningful employment and supporting small and medium-sized businesses within local communities. Additionally, the foundation aims to promote human rights with a cultural emphasis, implement Circular Ports to eliminate single-use plastics, and manage solid waste from the ports and surrounding communities.

During the launch, Teacher Lludy Melizha Terrero was introduced as the director of the Genera ITM Foundation. Reflecting on her Dominican roots, she emphasized the positive impact of projects like Cabo Rojo on people’s lives through economic empowerment and highlighted initiatives like reef monitoring and plastic reduction.

Representing the Dominican Government, Vice President Raquel Peña acknowledged the shared commitment to promoting sustainable tourism and environmental conservation. She echoed President Luis Abinader’s emphasis on collective responsibility for environmental protection and stressed the importance of collaboration between the government, private sector, and civil society to achieve lasting benefits for the country’s communities.

Tortuga Bay Puntacana: Grand Hotel Champion 2024 by Traveler Made

Punta Cana.- The Tortuga Bay Puntacana Resort hotel has been honored as the 1st Grand Hotel Champion 2024 by Serandipians by Traveler Made, solidifying its position as a global icon in luxury tourism.

This prestigious accolade, bestowed by Serandipians by Traveler Made, is exclusively granted to hotel establishments that stand out in delivering an unparalleled luxury experience, underpinned by exceptional quality in all their services.

Carmen Rosa de Torres, Director of Hospitality Sales at Puntacana Resort, expressed, “This recognition serves to showcase our unwavering commitment to excellence in hospitality and our exceptional dedication to providing unique and memorable experiences to Tortuga Bay guests.”

Quentin Desurmont, President of Serandipians, commended the commitment demonstrated by certified properties in the pursuit of excellence and customer satisfaction. He emphasized, “The commitment to the community, by fully utilizing the tools we provide, ensures that you maximize your association with Serandipians and allows our members to increasingly recognize you as one of the best hoteliers in our industry.”

Traveler Made represents the international Designation of Origin in the field of luxury tourism, bringing together the most prominent experts worldwide in various sectors, including travel agencies, hotels, yachts, private jets, villas, and companies specialized in destination management.

About Tortuga Bay Puntacana Resort

Tortuga Bay Puntacana Resort & Club comprises 13 private beachfront villas designed by the renowned Oscar de la Renta. In 2017, the hotel underwent a renovation by American designer Markham Roberts, with the primary goal of evolving the hospitality experience originally envisioned by Oscar de la Renta.

In 2022, the resort received the “Change Makers” award from The Leading Hotels of the World (LHW) for its support of the community and commitment to enhancing its physical, economic, and emotional well-being. It also ranked in the top 5 of the 25 Best Hotels in the Caribbean in the 2023 edition of the Best Hotels Ranking by US News & World Report magazine.

Puntacana Resort & Club, with over 50 years of experience, is a low-density destination committed to the development of sustainable luxury tourism. It features three miles of magnificent white sand beaches, 45 holes of world-class golf, and is home to the first PGA TOUR in the Dominican Republic, establishing itself as a leading resort in the Caribbean.

Dominican Republic: Sargassum combat cabinet seeks solutions

Santo Domingo.- Tourism Minister David Collado assured on Tuesday that the government, the private sector, and universities are working together to minimize the impact of sargassum seaweed on Dominican coasts.

“We are actively seeking short, medium, and long-term solutions to address this problem, which affects not only the Dominican Republic but also many coastal areas,” Collado stated at a meeting of the Sargassum Combat Cabinet.

He confirmed that a strategy is being developed by technicians from the Environment Ministry and other institutions. These teams will meet weekly to create a concrete plan for the country.

Collado also announced a $1 million investment in Dominican universities to strengthen research related to sargassum. He promised to communicate the short-term action plan at a future public meeting.

Miguel Ceara Hatton, Minister of Environment and Natural Resources and coordinator of the Cabinet, explained that they are analyzing all existing research on sargassum. A dedicated team will track the issue daily and report on progress towards solutions within a defined timeframe.

“We are comprehensively evaluating all aspects to ensure research resources are effectively allocated to address this challenge,” Ceara Hatton emphasized. He reported that the Cabinet is drafting a short-term policy to tackle the potential threat of sargassum on Dominican beaches during the months of March and April.

The Sargassum Combat Cabinet is drafting a short-term policy to tackle the potential threat of sargassum on Dominican beaches during the months of March and April. (FILE photo)

The meeting, held at the Ministry of Tourism headquarters, brought together members of the institutions that make up the Cabinet, established by decree of President Luis Abinader.

Cabinet members discussed proposals and reviewed progress and research from other countries in the region regarding sargassum management. David Llibre, president of the Association of Hotels and Tourism (Asonahores), and a representative of the Inter-American Development Bank (IDB) also participated.

The Sargassum Combat Cabinet was formed last August by President Abinader to propose and coordinate public policies aimed at mitigating the effects of this seaweed on the beaches and coasts of the Greater Caribbean.

The Cabinet comprises the Ministers of Tourism (David Collado), Environment and Natural Resources (Miguel Ceara Hatton, coordinator), and Economy, Planning and Development (Pavel Issa Contreras).

It also includes the executive vice president of the National Council for Climate Change and the Clean Development Mechanism (Max Puig), the commander general of the Dominican Republic Navy (Vice Admiral Agustín Morillo Rodríguez), a representative of the Ministry of the Presidency, and a representative of Asonahores.

Dominican Republic introduces quality seal for medical tourism

Santo Domingo.- The Minister of Public Health and Social Assistance, Víctor Atallah, has introduced the “Seal as a Technical Standard for the substantial improvement of Medical Tourism,” emphasizing the country’s strides in becoming a secure destination for healthcare.

Atallah highlighted that this tool is crafted based on criteria developed for the entire medical tourism value chain. It aims to ensure best practices and patient safety through protocols and standards, enhancing confidence in the Dominican Republic as a preferred destination for health services sought by tourists.

“This seal, available today, adds value to your ongoing efforts for the benefit of the country and enhances our competitiveness in the growing health tourism market,” stated the minister.

He clarified that the Quality Seal in Health Tourism aligns with local licensing and accreditation standards of the Ministry of Public Health, regulations of the Ministry of Tourism, and international ISO standards specialized for medical tourism, validated by numerous countries.

Minister Atallah emphasized the vital role of health in common well-being, asserting the Dominican Republic’s positioning as a major health tourism destination in Latin America.

Alejandro Cambiazo, President of the Health Tourism Association, acknowledged the challenges faced by the country and emphasized that the introduction of a Technical Standard for Medical Tourism represents a significant advancement. It defines quality criteria for the sector, promoting best practices and patient safety.

The Director of the Dominican Institute of Quality, Lorenzo Ramírez, commended the effort behind the initiative, expressing appreciation for Minister Atallah’s decision to adopt the standard. He believes that this step will make history for the Dominican Republic.

Apordom’s January 2024 report: 103 ships dock in the country

Santo Domingo.- In January, the Dominican Republic experienced a significant influx of maritime activity, welcoming a total of 103 ships carrying 319,410 passengers through various ports, as reported by the Dominican Port Authority (Apordom).

Comparing the figures from January 2023 to January 2024, the number of visitors increased from 139,305 to 319,410 passengers, marking a notable percentage variation of 17%.

Analyzing the data provided by the Port Authority, Taino Bay emerged as the busiest port in the initial month of the year, hosting 35 vessels and a total of 121,458 cruise passengers. Among these, 47,122 were arrivals, 74,336 were in transit, 45,391 comprised the crew, and 118 were departures.

Amber Cove secured the second position, receiving 28 vessels and accommodating 120,599 passengers in January. The breakdown included 20,050 arrivals, 100,549 in transit, 38,361 crew members, and 109 departures.

Jean Luis Rodríguez, the Director of the Port Authority, emphasized the significance of this surge in ships arrivals during January. He expressed optimism about the positive impact on the country’s economy, particularly in provinces with tourist ports.

Closing the statement, Rodríguez declared, “We closed the first month of this year with 103 cruises received and 319,821 visitors. Our country will continue to thrive in the world of cruises, and this success will be reflected in every port community.”

Apordom’s report highlighted additional port activities, with La Romana welcoming 18 vessels and hosting 54,151 tourists. Isla Catalina saw approximately five cruise ships with 12,668 visitors, while Samaná and Cabo Rojo received 11,990 and 2,558 visitors, respectively. The inauguration of the San Souci port welcomed 247 passengers.

Terminals boasting the highest vessel traffic included Amber Cove and Taino Bay in Puerto Plata, followed by La Romana, Samaná, and Santo Domingo. President Luis Abinader announced plans for public-private alliances to enhance tourism and job opportunities, specifically mentioning the delivery of Samaná and Arroyo Barril ports in the coming weeks.

Punta Cana, among the top 10 favorites for spring vacations 2024

Punta Cana—Spring Break 2024 is just around the corner, and several travel advisors and industry experts say that some of the most popular spring break spots are already fully booked.

Given the above, among the top 10 favorites and most popular spring break destinations on the 2024 spring break agenda are Caribbean destinations such as Punta Cana (Dominican Republic), Tulum and Los Cabos (Mexico), Jamaica, Maui (Hawaii) and Puerto Rico.

Also, there are many far-flung global destinations generating excitement, such as Europe, Tahiti, Japan, Orlando, Florida, and Norway.

Jim Campbell, travel agent and CEO of Honeymoons.com indicated that nearly two dozen of his clients have opted for Punta Cana getaways this year for spring break.

“Travelers are attracted to the destination’s beautiful beaches and variety of all-inclusive resorts. And that’s not all, resorts here cater to a variety of preferences and offer activities and amenities for every age group. And the prices aren’t bad either,” he detailed.

In addition, the all-inclusive vacation specialist said that “all-inclusive resorts in Punta Cana offer excellent value for money, with options to suit different budgets,” according to Travelpulse.

Celebrating Dominican culture at the White House

Washington, US.- The Dominican Embassy in the United States hosted a reception at the White House for the first time, showcasing various aspects of Dominican culture and underscoring the deepening relations between the two nations.

Sonia Guzmán, the Dominican ambassador to the United States, expressed her honor at the White House opening its doors, especially during this month of the Homeland. She emphasized the significance of celebrating ‘Dominicanness’ by presenting elements like gastronomy, music, dances, crafts, national symbols, and other cultural facets.

“This marks the inaugural celebration of the month of the Homeland by the Dominican Embassy within the White House premises, a result of their invitation for us to exhibit the richness of our culture to the public,” stated the diplomat.

The event serves as a testament to how cultural exchanges contribute to fostering friendship, cooperation, and, most importantly, the defense of democratic values—a shared commitment between President Luis Abinader and President Joe Biden. Both leaders agree that this approach is essential for promoting freedom, coexistence, and human rights in both countries.

Dominican legislator Adriano Espaillat emphasized that the gathering highlighted the Biden-Harris administration’s dedication to Latino communities. It preceded an event organized by the congressman, an annual tradition for the past six years, where representatives of the Dominican diaspora tour the Capitol, receive recognition, and this year’s theme is “Dominicans, Breaking Barriers.”

Carlos de la Mota, Vice Minister for Dominican Communities Abroad and Director of the Institute of Dominicans Abroad (Index), noted that such meetings play a crucial role in strengthening ties and showcasing the cultural values of the Dominican Republic.

David Collado affirms resilience of Dominican tourism amidst Haitian crisis

Santo Domingo.- Minister of Tourism, David Collado, unequivocally asserted that the current crisis unfolding in Haiti, marked by a series of anti-government demonstrations resulting in casualties, does not pose a threat to the tourism sector in the Dominican Republic. Despite the tumultuous situation in Haiti, Collado expressed confidence in the resilience of the Dominican tourism industry, highlighting that January witnessed the highest percentage of visitors in the country’s history.

“We have no indications of any decline that could be of concern for tourism in the DR. Tourism remains strong and firm. We have just presented the January numbers, which mark the best January in the history of tourism in the country, and the month of February is already shaping up to be the best February in history,” remarked Collado.

The Minister emphasized that the Dominican Republic’s tourism sector is maintaining its robust performance, showing no signs of faltering amidst the challenges faced by its neighboring nation. He underscored the stability and positive trajectory, dispelling any concerns about the impact of the Haitian crisis on the tourism landscape.

In addition to his insights on the tourism sector, Collado joined the call for international organizations to actively seek and implement concrete solutions to address the complex situation in Haiti. Acknowledging the significance of international cooperation, he stressed the importance of finding sustainable resolutions to the crisis that would benefit both nations.

As the Dominican Republic remains steadfast in its commitment to a thriving tourism industry, Minister Collado’s reassurances and call for international support underscore the interconnectedness of regional stability and the broader implications of crises affecting neighboring countries.

The weight of tourism in the Dominican Republic: US$31.4 million per day in consumption

Santo Domingo—Every day, the coasts, docks, beaches, roads, and businesses are visited by some 231,270 tourists passing through the Dominican Republic.

The Ministry of Tourism (Mitur) estimate also indicates that whether they stay overnight in the country or are just passing through, as is the case of visitors, non-resident foreigners generate expenditures in goods and services six times greater than Dominicans.

Such consumption generates 31.4 million dollars per day in favor of the Dominican economy, according to the data presented by the institution in its monthly report.

For this reason, the technical vice-minister of Tourism, Jacqueline Mora, explained that if the average number of tourists who travel the country daily were multiplied by the level of consumption they have, those more than 231,000 people generate an expenditure equivalent to that of a population of more than 1.2 million individuals.

“That gives a population (…) that does not receive (support from the program) Solidaridad, that are spending distributed throughout the country and that possibly have lower levels of pollution and that do not generate a negative fiscal impact,” he added.

Multiplier effect
Tourism had a robustly positive multiplier effect in 2023: more than 184,000 new jobs were directly linked to this economic activity last year.

Likewise, the sector added to the treasury more than 55,000 million pesos paid in taxes between January and December last year and more than 316,000 million pesos in public purchases, according to Diario Libre.

Last year, the activities of hotels, bars, and restaurants grew 10.7%, with the highest incidence in the national economic growth, which was 2.4% in 2023.

Therefore, authorities expect that 2.3 million tourists will arrive in the country by air in the first quarter of 2024, 11.3 % more than in January-March 2023.

In addition, they estimate that the arrival of 742,229 non-resident foreigners last January -10.3% more than in January 2023- marks an excellent start to meet this forecast.

Banking sector confident Dominican Republic economy will remain resilient in 2024

Santo Domingo—The ABA recognizes that the country has challenges in various external and internal aspects that could be adverse.

The Asociación de Bancos Múltiples de la República Dominicana (ABA) expressed its confidence that the Dominican economy will remain resilient this year in the face of the challenges facing the country in various aspects of national life and international scenarios that could be adverse, depending on markets and geopolitical conflicts.

In its magazine Abance, the guild expressed its optimism before the critical challenges of 2024, a year in which it understands it must continue to “drive the post-pandemic economic recovery process, with controlled inflation and a vibrant economy growing around its potential.”

The second edition of the ABA’s editorial product also describes the multiple banking trends to promote financial inclusion and credit to households and productive sectors in a sustainable manner.

It also includes considerations by economist Henry Hebrard and the executive vice-president of the National Council of Private Enterprise (Conep), César Dargam, who agree in projecting a more significant increase in the Dominican Republic’s Gross Domestic Product (GDP) than that achieved in 2023, with an improvement in other macroeconomic and financial indicators.

For economic analyst Hebrard, the Dominican economy may grow by 5.5%. For his part, Dargam also expressed confidence that economic activity will resume its potential growth rate.

The execution of public spending, the course of the presidential, congressional, and municipal elections, the low projection of world growth, and the international geopolitical conflicts are some of the factors that will affect the evolution of the economy this year, they said.

They agree that fiscal reform is one of the biggest unknowns that the administration that takes office next August 16 will have to clear.