Why Dominican Republic?
The Dominican Republic is a major tourist destination for sunseekers and thrill-seekers alike. There is a huge demand for hotel accommodation as it is increasing in popularity as a tourist destination. The total number of visitors increased by 43% between 2002 and 2007. In the period January to June 2008 stopover arrivals were up by 5.2%, with visitors predominantly from Europe (32.3%), the USA (27.9%) and Canada (19.9%). The Dominican Republic had the largest number of visitors of any Caribbean Island. In 2006 the total expenditure by visitors was $3180.4 million. There are currently very few 5 Star resorts in the Dominican Republic. The Dominican Republic is a safe investment with opportunity for profit because:
• it is far from fully-developed
• property is very competitively priced compared to many Caribbean islands
• property prices are set to rise
In 2007 Foreign Direct Investment in the Dominican Republic increased in total by 16.3% including an increase in Real Estate by 120% and in tourism by 58.1%. The Government has introduced a number of incentives to increase the pace and progress of development in the tourist industry. These include:
• Hotel facilities, resorts and/or hotel complexes;
• Construction and/or operation of tourist infrastructures, such as aquariums, restaurants, golf courses, sports facilities, and any other that may qualify as a tourist activity.
Dominican Republic:
Capital - Santo Domingo
Population - 9.7 million
Currency - Peso
Local time -
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