Invest in Dominican Republic !
The Dominican Republic’s economy has been the fastest growing in the Americas in recent years. It grew 6% to 7% per year from 2014 to 2016 and 4.8% in 2017. Further growth for 2018 is projected at 4.5%.
Much of the expansion the country has been enjoying is thanks to millions of tourism dollars from North American and European travelers flocking to those sandy beaches I mentioned in ever–growing numbers.
Alongside economic growth, the country’s reelected President Danilo Medina has made education a priority, sponsoring literacy and vocational training programs for adults and building 2,500 new schools during his six years in office so far.
“The current administration is working hard to get this country beyond developing–world status,” one local businessman I spent time with recently told me.
The country’s infrastructure has improved dramatically since my first visit. Today new highways connect most of the resort and beach areas. The colonial zone in Santo Domingo is enjoying a face–lift. New roads and sidewalks are being built, and utility cables are being buried underground.
More flights from the United States make the island more accessible, and major international hotel chains are targeting the DR, specifically Santo Domingo, for new properties. Recently opened are a JW Marriott and an Embassy Suites by Hilton. Underway are an InterContinental and a Hard Rock Hotel.
Meantime, Carnival is bringing a ship a day to Santo Domingo’s cruise dock.
The DR sees about 6 million tourists per year; about 60% of these are from North America. President Danilo’s administration is trying to attract more Chinese tourists and has also targeted Israel with success. Charters arrive regularly from that country.
Beyond tourism, the Dominican Republic’s economy relies on agriculture (bananas, coffee, and cocoa) and mining.
That’s the country big picture.