According to a study by the Central Bank carried out by Olga Díaz Mora, the tourism industry (hotels and restaurants, principally) has grown considerably during the past five years. The study shows that in 1997, some 178,100 Dominicans were employed in hotels and restaurants. Five years earlier, in 1993, 124,600 Dominicans had tourism industry jobs in these businesses. The study shows that the hotel inventory in 1997 was 38,250 hotel rooms, most located in the East and North Coasts. In 1993 there were 26,801 rooms, for a 42% growth. In 1997, tourism generated foreign exchange for US$2,106.8 million, or 62.1% of total exports, excluding industrial free zone export totals. This was up from US$1,245 million in 1993. Arrivals grew from 1.5 million in 1993 to 2.2 million in 1997. 57.8% of the visitors were from Europe, principally Germany and the United Kingdom. According to the Caribbean Hotel Association, of the 183,557 hotel rooms in the Caribbean, 19.5% are located in the Dominican Republic. Cuba is next with 14.6%, Jamaica with 12%, Bahamas 7.2% and Puerto Rico 5.6%. Minister of Tourism Felix Jiménez said that this year 3,316 new hotel rooms will be in operation, the result of an investment of US$186 million dollars. 92.6% of these new hotel rooms are going up in the East Coast. Investment in hotels in the East surpasses US$600 million, said Minister Jiménez. By the end of this year, investment in hotel rooms in the East is expected to reach US$700 million dollars. This will further consolidate the position of the Dominican Republic as the leader in tourism in the Caribbean, with 42,000 hotel rooms.
