20032004 Travel News ArchiveNewsTravel

Tourism drives DR economy

Hoy reports that tourism is still one of the most vital pieces of the Dominican economic puzzle. An unusually high growth rate of 29.6% in 2003 indicated an intensification even greater than that during the very first years of tourism. Last year?s growth has been maintained into 2004, with occupancy rates in February averaging 90%. The strong dollar and euro currencies have definitely made the country more attractive to many people. In 2000, tourism grew by 15%, but the 9/11 disaster brought about a drop of 2.4%, while 2002 saw just a 0.9% increase in visitors. According to Central Bank figures, tourism provided 8% of the GDP in 2003. The growth rate for tourism nearly doubled those of the communications sector, which experienced a 15.2% augmentation last year. The impact of tourism is impressive, to say the least. Hotel and restaurant association ASONAHORES and the World Council on Travel and Tourism provide these figures for the Dominican Republic: 164,358 jobs directly related to the industry, or 4.8% of all jobs; and 554,365 jobs indirectly related to tourism, comprising 16.2% of the total job market and 18.8% of the GDP. Tourism is also responsible for 28.3% of the export of goods and services, as well as 24.9% of total capital investment. And, impressive as these figures may be, the occupation rates for areas like Puerto Plata are even more so, having reached 93.1% in 2003 — an increase of 19.1% over the previous year. While La Romana-Bayahibe grew just 4.1%, its rates were already above 90%, earning it a vigorous occupancy rate of 94.9%.