It’s the reason I’m incorporating several new ventures in the DR at this moment. The DR has the fastest growing economy in all of Latin America and the Caribbean with an average of 4%-5% growth per annum. In 2017 alone there was a growth of 7%-9%. Those intelligent enough to invest in their economy (the right investments, not real estate) the past 5 years have seen unbelievable dividends to attest to this.
It’s helpful that most people still assume the DR is a poor country though, as it leaves a lot of venture opportunities for those of us intelligent enough to research pass the rumors and uneducated hearsay. My initial investment there before the pandemic was less than 5 figures. If I were to tell you share participation in that same venture has just surpassed the 7 figure mark this month, you’d laugh at me as I laugh all the way to the bank. 😂
That's what I say. By the time most people see the DR as at a higher level than that, it will be too late to get into many business sectors. It's still a developing country, so there are many sectors that either haven't been developed yet or are beginning to be developed, leaving the space wide open for new companies to grow and become leaders in those sectors. Many of those sectors have been developed in North America or Europe, so reinventing the wheel is not quite required, though some tweeking certainly is there are certain things of Dominican culture that will get in the way of success versus how its done entirely in say the USA.
With that said, there are certain things that makes the DR appear poorer than it is to people that may not be (or don't want to be) well acquainted with the DR in reality.
For example, street vendors on several major intersections in the cities. Many may not notice that by this time most are Haitian migrants, many of them illegals. What would happen to street vendors if the border was better controlled? Exactly, that isn't an indication of the level of development in the DR but of a migration policy (or lack of in practice), but someone not well acquainted with the country might think so.
Another example are the many older cars in Dominican streets. It may appear that the DR is poorer than countries that are much poorer based on that alone. Many people in general don't assume their is a cultural habit among Dominicans where usually a used car is thought of as 'better' because they have been tried already for their quality, they are harder vehicles than the newer ones that dent almost by touching the thing with your finger (cars are built like that nowadays to have less impact on the occupant in case of an accident, but most Dominicans don't have that registered yet), etc. The tale tell sign of this is that even in homes that are unquestionably middle class and up you will see in more cases than expected an older car model in the marquesina or driveway or parked outside. Do you really think that these people who had the ability to build a nice comfortable home (or buy) for themselves can't afford a newer car? Come on now. Another thing about cars is that on Dominican streets you will see many that aren't apt to be on the road with missing headlights, way too many dents, the tropical sun doing its thing on the paint of many cars, missing bumpers, etc. Many would interpret that as a manifestation of poverty, but it's something that is not common in countries that are considerably poorer than the DR. Extremely relaxed enforcement of safety rules on the road explains these carcasses on wheels still roaming around, vehicles that due to their conditions are forcibly taken out of circulation by the authorities of other countries including those much poorer than the DR. Of course, the elimination of the archaic conchos would do wonders in the car park department. I don't think there is a greater concentration of outdated 1980's cars than in those orgsnizations.
There are things of the DR that is often misinterpreted by many foreigners and even by many Dominicans. They are quick to think those things are a manifestation of poverty when in fact they are a manisfestation of cultural practices and relaxenforcement of the rules more so than poverty.
Ever think why the Dominican real estate market isn't similar to other real estate markets in North America and Europe? Why the prices of houses don't seem to reflect their market values? Culture, its all explained by Dominican cultural practices. Until someone takes that into account nothing about the DR will make sense to them.
Ever think why you can visit poorer countries than the DR and on the side of city streets and highway there is a lot less litter than in the DR? The fact that there are Dominican towns that are clean and the next one isn't as much, despite they are not that different economically from each other is explained by culture (some towns pride themselves on having clean streets, that's one pride I think should be national) and whether the local government cares about that. It has nothing to do with poverty and anyone that uses that as a way to judge poverty will misinterpret many places of the DR.
So on and so forth.