Tourism sector drives DR economic recovery

For the January-August period, the Dominican economy closed with an accumulated growth of 13%, a figure that evidences the dynamism it has maintained during the current year and places it among the countries that will have the best economic recovery in Latin America and the Caribbean.

“The behavior observed in the Dominican economy continues in line with the GDP growth prospects for the end of the year, which point to an inter-annual expansion rate of double digits, that is, 10% or more, once again placing the Dominican Republic among the countries that will lead the economic performance of the Latin American region”, highlights the preliminary report of the economic performance released by the Central Bank (BCRD).

The dynamism that the Dominican economy has maintained in this year 2021 has been sustained basically in the activities of construction, hotels, bars and restaurants and the manufacturing of free zones, according to Listín Diario.

The report details that in said period hotels, bars and restaurants contributed 26.6%. Meanwhile, international reserves reached US$12,932.3 million as of September 30, influenced by the greater flow of foreign currency from remittances, exports and tourism.

On the other hand, construction grew 32.4%; and free trade zone manufacturing 26.3%. Other sectors registering double-digit growth are transportation and storage, with an accumulated 14.6%; local manufacturing, with 12.4%; and commerce, with 11.4%.

 

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