Banco de Reservas and the Association of Hotels and Tourism (Asonahores) presented the study on “Productive linkages of the hotel sector in the economy of the Dominican Republic”, which shows the impact of the sector on the entire value chain of the economy.
Samuel Pereyra, executive president of the financial institution; and David Llibre, president of Asonahores, highlighted the importance of the research, which covers a broad spectrum of the impact of hotel establishments on the national economy, and reveals that in the last ten years hotels have contributed around 11% of the service sector of the Gross Domestic Product (GDP).
“It reveals the positive effects of fostering the sustained growth of the value chains involved, both in the tourism sector and in other complementary industries,” he said.
Pereyra added that “timely government policies in support of tourism determine a notable contribution, by making multiple financing to companies in the sector, especially to tourism projects that add value such as the construction of large hotels and villas, which are key to the creation of jobs and wealth in the demarcations where they operate.”
Roberto Despradel, of the firm DASA, which carried out the research supported by the Banco de Reservas and Asonahores, said that “Directly the hotel sector generates 106,891 jobs, which is equivalent to RD$37,595 million in annual salaries paid. This figure only includes the formal sector and only hotels, so if we add bars, restaurants and non-hotel establishments we could multiply that figure by three or four”.
He explained that in 2022 the hotel industry created 113,842 indirect jobs, which represented annual salary payments of RD$37,578 million. In addition, purchases of more than RD$139 million were made in the domestic market in 2022, for an increase of more than 40% over 2021, within which he cited the examples of electricity, gas and water with more than RD$16 billion, in construction more than RD$12 billion and more than RD$3 billion in livestock and agriculture.
“The hotel sector generates productive chains with other vital economic activities for the development of local companies that supply goods and services”, added Despradel.
For his part, Llibre also highlighted the importance of the study because it details the contributions and the great weight of tourism in the economy, in addition to becoming a source of consultation for the sectors that promote tourism, as well as for decision making.
“Foreign exchange earnings from tourism in 2023 were US$9.8 billion, representing 34% of the country’s total foreign exchange, which is fundamental for social development and would not be possible if it were not for the legal framework that promotes tourism activity in the country,” said Llibre.
The presentation of the study took place on the seventh floor of the Banreservas Tower, with the presence of executives from the Business and Tourism area of the financial institution, affiliated companies and Asonahores executives.
Source: Arecoa.com
