The decline of the US dollar versus the Euro could be a blessing in disguise for tourism in the Dominican Republic. The US dollar?s value has sunk to a two-year low against major world currencies, particularly against the burgeoning Euro.
While travel to Europe is becoming increasingly expensive for US travelers, travel to the DR is becoming cheaper every day given the local depreciation of the peso.
Thus, it is very likely that the DR receive more US vacationers than expected, as Americans decide to visit the Caribbean in 2003 instead of Europe, where their dollars will buy less and less.
Moreover, the Dominican Republic, whose hotel package prices are pegged to the US dollar, is becoming increasingly more attractive for Europeans, whose Euro now buys many more dollars.