On occasion of the upcoming visit of President Hip?lito Mej?a to Spain on
Friday, 12 September, the Spanish Embassy has released data on Spanish
investment in the Dominican Republic.
According to the Embassy, as reported in Hoy newspaper, total Spanish direct
investment in the Dominican Republic is at US$3 bilion. Of the 57 large Spanish
companies doing business in the Dominican Republic, many are tourism-related.
The Spanish Commercial Office says Spanish investment makes up 55% of the rooms
in hotels of more than 100 rooms. The investment is said to add up to more than
US$1 billion invested in hotels located on the Punta Cana, Puerto Plata, Santo
Domingo, Samana, Barahona and La Romana destinations, or about 22,000 hotel
rooms. Spanish hotel chains operating in the Dominican Republic are: Iberostar,
Riu, Barcelo, Occidental, Fiesta, Catalonia, Pi?ero, Hotetur, Cotursa, Renthotel,
Grupo H10, Best Hotels, Blau, Princess, Vista Sol, Sirenis, Mac/Globalia, Sol
Meli?, among others.
The Dominican Republic is Spain?s fourth largest trading partner in Latin
America. Spain exports to the Dominican Republic about US$400 million a year,
and imports about US$25 million, mainly tobacco, coffee and cacao products. The
considerable difference in trade is compensated by the service industry with
Spaniards making up 12% of tourists that visited the DR in 2002.