The largest Caribbean economy. Characterized by economic stability and social peace; an excellent context for local and foreign investors. In 2014 alone, tourism experimented a growth of 9.6% on the previous year.
The real estate market is growing strongly, thanks to the promotion of the tourism sector and the presence of international luxury brands.
Located right in the heart of the Caribbean, the Dominican Republic’s economy has kept a robust growth rate over the last 5 years, achieving a 4.6% of GDP in 2017. The DR’s GDP reached US$75.9bn in 2017, supported mainly by sectors like manufacturing (9.9%), construction (9.8%), commerce (8.5%), transportation (8.2%) and tourism (7.9%).
Tourism, one of the pillars of the Dominican economy, keeping its continuously increasing trend in 2017 with a record arrival of 6.2M visitors (6.8% increase from 2016), keeping up with the government objective of 10M visitors by 2020 and generating an estimated US$7.2b revenue. The country is receiving new foreign investment in the tourism infrastructure, especially resorts and hotels, which they are being developed or scheduled to be by 2019. The latest investments in tourism infrastructure have been focused both on luxury hotels and resorts, as well as others high-end residential projects.
|GDP (USD billions)||68.8||72.3||75.9|
|Per capita GDP (USD at PPP)||14,399||15,372||16,182|
|Real Growth in GDP (%)||7.0||6.6||4.6|
|Inflation (CPI %)||2.3||1.7||4.2|
|Exchange Rate (USD – end period)||45.66||46.73||48.46|
|Exchange Rate (CAD- avg)||35.19||34.77||36.47|
|Current Account Balance (US$ M)||-1,280||-978||-165|
|Fisical Balance/GDP (%)||0.0||-2.8||-2.4|
|International reserves (US$M)||5,266||6,134||6,873|
In 2017 alone, the total number of international tourists grew by +6.1%, with an average growth of +5.1% over the last five years. For 2016, the total number of tourists is expected to be 6 million, with a target annual growth of +7%.