Biggest Dominican banks back goal of 10M tourists yearly

MARCH 2016

Say key tourism business leaders visiting Berlin’s International Tourism Fair

President Danilo Medina’s goal of reaching 10 million tourists in a decade is on pace, say key tourism business leaders visiting Berlin’s International Tourism Fair.

If we, all sectors stick together, not 10 million, we’ll pass 10 million, said Punta Cana Group president Frank Ranieri, quoted by

Toward that goal, State-owned Reservas bank deputy administrator Wiliam Read Ortiz said they are again at the tourism fair as part of the expanded funding available for relevant tourism projects.

He said Reservas, the country’s second biggest bank, has loaned US$260 million for various tourism projects, including new hotels, remodeling of existing structures, shopping centers linked to tourism and the acquisition of land for future development.

Ortíz said Dominican Republic will exceed Medina’s goal of 10 million tourists, bringing with them US$15 billion the economy each year.

Popular bank present

The vast joint public-private work that is currently underway in the Dominican Republic translates into good results experienced by the Dominican tourism, said Popular bank Business and Investment executive vice president René Grullon.

While hosting a cocktail gala for Dominican hoteliers and tourism investors during the ITB, Grullon stressed that the biggest Dominican bank reiterates its support for the tourism sector’s sustainable development.

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