The Dominican Republic plans to receive 7.2 million non-resident visitors by the end of 2022. Meanwhile, the hotel, bar and restaurant sector has been the biggest contributor to the Dominican economy, expanding 28.9% between January-September 2022.
The statement was made by the Governor of the Central Bank, Héctor Valdez Albizu, in his speech of thanks for the recognition awarded to him by the Association of Hotels and Tourism of the Dominican Republic, ASONAHORES, for his contributions to the tourism sector. The act was part of the V Tourism Investment Forum program held in Santo Domingo.
Valdez Albizu stated that 2022 was an extraordinary year for the tourism sector, exceeding all expectations, registering unprecedented flows in the arrival of non-resident passengers, accumulating 5.8 million visitors in ten months, that is, 7.4% and 8.7%. more non-resident visitors than in 2018 and 2019, respectively.
Highlighting that “Forecasts are for around 7.2 million non-resident visitors by the end of 2022, exceeding the 7 million-threshold for the first time in history, with income from tourism that will exceed US$8.5 billion, an historical figure”.
“I take this opportunity to highlight that during the current year 2022, the hotel, bar and restaurant sector has been the biggest contributor to the Dominican economy, accounting for approximately a third of the accumulated growth of 5.4% in the first nine months of the year. In terms of real added value, the sector registered a 28.9% expansion in January-September 2022, while tourism revenues totaled US$6,341.9 million, for a relative variation of 65.7% compared to the same period in 2021”, added the governor.
All of the above reveals that, despite the adversities that the tourism industry has faced worldwide in the current international situation, the Dominican Republic remains the leading destination in terms of tourist arrivals in the Insular Caribbean and Central America region. These are, without a doubt, achievements worth highlighting given the boost that tourism means for national productive activity and the generation of foreign currency, he said
Valdez Alvizu’s words:
I would like to thank the Association of Hotels and Tourism of the Dominican Republic (ASONAHORES), its president Rafael Blanco Tejera and executive vice president Andrés Marranzini along with all the managers and members that make up this important business association for this recognition that they confer on me today, which is a great honor and satisfaction for me.
I humbly receive this distinction not only on my own behalf, but also on behalf of the entire team of officials and technicians of the Central Bank of the Dominican Republic who accompany me on a day-to-day basis with a great sense of responsibility and commitment to fulfill the crucial mission of ensuring price stability and guaranteeing the regulation of the financial system, as well as promoting the efficiency and security of payment systems, acting as executor of monetary, exchange rate and financial policies, to contribute to the stability and growth of the economy national.
I confess to you, my friends, that although it has been a major challenge to faithfully fulfill this purpose in the last two years, given the COVID-19 pandemic and its aftermath, as well as geopolitical conflicts, particularly Russia’s invasion of Ukraine, it is also true that my optimism for the development of the nation has been strengthened. Looking back, the country once again demonstrated its great resilience to overcome crises, thanks to the joint efforts of the Government, the Central Bank and the private sector, which has been a major player in the economic recovery.
In the case of tourism, the reality is that this industry has played an extremely important role in reactivating the economy, thanks to its multiplier effect on the demand for local goods and services and job creation, as well as its huge impact with the country’s total exports. As I have said on many occasions, tourism can be considered the backbone of the Dominican economy due to its communicating vessels with all other economic sectors.
Indeed, the tourism sector has recovered faster than expected, thanks to the various initiatives carried out by the Tourism Cabinet, which had the will and unrestricted support of President Luis Abinader, together with Minister of Tourism David Collado, contributing to its reactivation and to recover the jobs lost during the pandemic. It should be noted that the Responsible Tourism Recovery Plan, which includes tax incentives for companies related to tourism, an efficient promotion strategy, directed and focused on issuing destinations priorities, among other measures to strengthen the image of the country as an attractive and safe vacation destination, was executed hand in hand with the Private Sector with remarkable results.
Allow me to highlight that during the current year 2022, the hotel, bar and restaurant industry has been one of the biggest contributors to the growth of the Dominican economy, accounting for approximately a third of the accumulated growth of 5.4% in the first nine months of the year. In terms of real added value, the sector registered an expansion of 28.9% in January-September 2022, while tourism revenues reached a total of US$6,341.9 million, for a relative variation of 65.7% compared to the same period in 2021.
This year has been extraordinary for the tourism sector in the Dominican Republic, exceeding all expectations, registering unprecedented flows in the arrival of non-resident passengers, accumulating 5.8 million visitors in ten months, according to data announced by the Ministry of Tourism, that is, 7.4% and 8.7% more non-resident visitors than in 2018 and 2019, respectively. “Forecasts are for around 7.2 million non-resident visitors by the end of 2022, exceeding the 7 million-threshold for the first time in history, with income from tourism that will exceed US$8.5 billion, an all-time high”.
All of this goes to show that, despite the adversities that the tourism industry has faced worldwide in the current international situation, the Dominican Republic remains the leading destination in terms of tourist arrivals in the Insular Caribbean and Central America region. These are, without a doubt, achievements worth highlighting given the boost that tourism represents for national productive activity and the generation of foreign currency.
Finally, my friends, I reiterate that all this good news is ample reason to continue believing that the Dominican economy will continue occupying a top place in terms of recovery, resting on sectors such as tourism, high foreign exchange revenue, foreign direct investment, and direct and indirect jobs. Likewise, the Central Bank, faithfully commits to its mission, reaffirms its commitment to conduct monetary policy aimed at achieving its inflation target, and contributing to good economic performance, maintaining an environment of certainty, which is essential for the adequate flow of local and foreign investments, combined with a climate of social peace, legal security, and clear and transparent rules,
Thank you very much.
Source:
Resumen Turismo
