A recent study carried out by Analytica, a leading local research company, reveals that more than six million Dominicans engaged in domestic tourism from 2016 to 2022. Local tourists contributed US$1.55 billion in value added to the tourism sector. Deputy Minister Jacqueline Mora presented the results of the study, “Results of Dominican Tourism.”
Mora said domestic tourism was key to the recovery of the local tourism sector during the Covid-19 pandemic. Locals migrated to live in tourism destinations in pandemic months and then were the first to travel locally, especially as vacationing abroad was off limits or difficult to do during Covid-19 months.
Key indicators analyzed from 2016 to 2022 reveal that the hotel industry generated an added value of US$22.19 billion in 2022, with a multiplier effect of 2.88 in the rest of the economy, in terms of GDP.
This is equivalent to 19% of GDP, which means that for every peso produced directly, the tourism industry generates two pesos indirectly and induced.
This last category includes the activity generated through purchases in other economic sectors and the consumption of employees in the tourism sector.
59% of this income was generated by hotels and the remaining 41% by the rest of the sector.
The study also indicates that, in the hotel investment category, local capital has gained participation, reaching 31% in 2022 compared to 69% for foreign investment. Of all local hotel investments, 23.9% was made through financing granted by Dominican banks. Banco Popular and the governmental Banco de Reservas lead in financing tourism ventures in the Dominican Republic.
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Ministry of Tourism
El Dia
23 April 2024