Dominican Republic wants to Develop very Quickly: The Government is Determined to Build Lasting Structures to bring in the Dough.
Land is becoming very expensive in the Juan Dolio Area. Where is all this money for investment coming from?
Will Dominicans be able to find the human capital to sustain this rapid growth.?
Opening the Port in San Pedro to go to Mayaguez Puerto Rico.
In the 1960s, the Dominican Republic was one of the poorest nations in the Western Hemisphere, with conditions very similar to those of Haiti, the country with which it shares the Caribbean island of Hispaniola. While Haiti has become even poorer -it is the country with the highest income leave in Latin America and the Caribbean-, the Dominican Republic has experienced a B growth. Its GDP has increased by 4.9% average annually over the past 50 years, as highlighted by a recent IMF study examining the region's data between 1972 and 2022. This is the largest increase, well above average in the region, which was 3.2% per year, and ahead of other countries with significant progress such as Panama (4.5%), Paraguay (4.2%), Costa Rica (4.1%), Colombia (3.8%), Ecuador (3.8%) and Chile (3.7). In the case of the Dominican Republic, the average even reached 7% in the boom years of this century, before the arrival of the pandemic. The IMF study also highlights how this growth has accelerated the convergence of living standards in the Dominican Republic with respect to more developed countries, particularly in comparison with the United States. The rate of convergence with the United States reached 32% in 2022, when the convergence of Latin American and Caribbean nations with the United States registers an average of 25%. The Dominican index is only surpassed by Costa Rica, Uruguay, Chile and Panama. The Dominican Republic has the highest speed of convergence, having advanced along this path by average 3 percentage points per decade over the last half century, although the speed has reached 8 percentage points per decade more recently. The IMF considers that "with the right policies, the country has the potential to become an advanced Economics in the next 40 years". The Dominican Republic ranks sixth in per capita income in Latin America and the Caribbean when GDP is measured in purchasing power parity.
Land is becoming very expensive in the Juan Dolio Area. Where is all this money for investment coming from?
Will Dominicans be able to find the human capital to sustain this rapid growth.?
Opening the Port in San Pedro to go to Mayaguez Puerto Rico.
In the 1960s, the Dominican Republic was one of the poorest nations in the Western Hemisphere, with conditions very similar to those of Haiti, the country with which it shares the Caribbean island of Hispaniola. While Haiti has become even poorer -it is the country with the highest income leave in Latin America and the Caribbean-, the Dominican Republic has experienced a B growth. Its GDP has increased by 4.9% average annually over the past 50 years, as highlighted by a recent IMF study examining the region's data between 1972 and 2022. This is the largest increase, well above average in the region, which was 3.2% per year, and ahead of other countries with significant progress such as Panama (4.5%), Paraguay (4.2%), Costa Rica (4.1%), Colombia (3.8%), Ecuador (3.8%) and Chile (3.7). In the case of the Dominican Republic, the average even reached 7% in the boom years of this century, before the arrival of the pandemic. The IMF study also highlights how this growth has accelerated the convergence of living standards in the Dominican Republic with respect to more developed countries, particularly in comparison with the United States. The rate of convergence with the United States reached 32% in 2022, when the convergence of Latin American and Caribbean nations with the United States registers an average of 25%. The Dominican index is only surpassed by Costa Rica, Uruguay, Chile and Panama. The Dominican Republic has the highest speed of convergence, having advanced along this path by average 3 percentage points per decade over the last half century, although the speed has reached 8 percentage points per decade more recently. The IMF considers that "with the right policies, the country has the potential to become an advanced Economics in the next 40 years". The Dominican Republic ranks sixth in per capita income in Latin America and the Caribbean when GDP is measured in purchasing power parity.
