The Economist Intelligence Unit reports on what it calls the ?notable
rebound? tourism in the Dominican Republic is having this year. The EIU analysts
attributed the recent growth to attractive hotel prices, the result of the sharp
depreciation of the peso since last year. Other factors behind tourism’s
recovery are a reduced fear of terrorism and the increased promotional work
being carried out by the Dominican Republic’s Ministry of Tourism, particularly
with leading tour operators during major travel fairs. Central Bank statistics
show that tourist arrivals for the January-June period in 2003 were 1,404,726,
up from 1,167,430 in 2002, and 1,351,812 in 2001. Of the total, 41.4% came from
Europe, 31.6% from the United States, 20.2% from Canada.
The most popular destination in the country is the Punta Cana/Bavaro area on the
eastern coast. That destination grew by almost 13% over last year. Punta Cana
receives 43% of all tourists visiting the Dominican Republic, and its airport is
now the leading port of entry in the entire country.
According to EIU, ?The solid performance of tourism has contributed to strong
expansion in the hotels, bars and restaurants component of GDP, which grew by a
whopping 28.8% in the first quarter of 2003 compared with the year before.?