Over the course of 2023, the Dominican Republic witnessed a notable boost in its tourism sector, largely thanks to the positive impact of investment funds in the industry.
The Dominican Association of Investment Fund Management Companies (Adosafi) reported that thanks to the investments made last year in the tourism sector, 1,274 permanent direct jobs and more than 3 thousand indirect jobs were generated.
The investment of the funds in the sector up to June 30, 2023 exceeded 30 billion pesos. The investments correspond to 6 different provinces: Distrito Nacional, El Seibo, La Altagracia, Pedernales, Samaná and Santo Domingo.
“The investment funds have channeled significant resources into key tourism projects throughout the Dominican Republic. From the construction of new luxury resorts to the improvement of existing tourism infrastructure, these strategic investments have contributed to diversifying the offer and improving the quality of the tourism experience in the country,” said Santiago Sicard, executive president of Adosafi.
Funds play a fundamental role
According to the entity, the funds have played a fundamental role in the growth and expansion of the country’s tourism offer, strengthening its position as one of the leading tourist destinations in the Caribbean.
In addition, investment in the tourism sector has generated a wide range of economic opportunities for Dominicans, from the creation of jobs in the hotel industry to the support of small local businesses that offer tourism services and various supplies for the hotel industry.
They indicate that the economic boost has contributed to job growth and increased income in the areas where the investments have been made, according to a press release.
Also, investments in the tourism sector have raised quality standards in terms of services, infrastructure and experiences offered to visitors. This has helped position the Dominican Republic as a quality tourism destination, attracting discerning travelers and increasing customer satisfaction.
Additionally, investments have allowed part of the growth and interesting profitability of this sector to be used by millions of Dominicans, such as those who save for their pensions through pension funds managed by the AFPs, which invest in these projects through investment funds.
Source: Arecoa.com
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