Turnover of tourism MSMEs increases 40% in DR

90% of the companies in the Dominican tourism industry belong to the MSME segment, which is why micro, small and medium-sized enterprises play a fundamental role in the resilience and recovery of the sector.

The turnover of tourism MSMEs in the country has increased by 40% in 2023, according to a report on the occasion of International Tourism Day, conducted by Alegra.com on figures of the contribution to the industry and the national economy.

In the Dominican Republic, tourism is a key generator of foreign exchange, income and employment. According to the World Travel and Tourism Council (WTTC), the sector’s contribution will represent 15.3% of the total economy by the end of 2023 and will generate 17.5% of the total number of jobs in the country.

“As in the rest of the industries, micro, small and medium-sized enterprises are a fundamental part of the activities related to lodging, gastronomy, transportation, travel agencies and recreation. According to the Booking.com platform, in Latin America, 54% of tourists choose to consume goods and services offered by small local businesses,” Alegra.com highlights.

The latest report of the accounting and electronic invoicing software in the DR and Latin America, reports that the invoicing of tourism MSMEs at a regional level grew by 73 % during the first half of 2023 compared to the same period during 2022, while in Mexico it grew by 95 %, highlighting the resilience and adaptability of these companies in a constantly changing environment.

Likewise, the data highlights the contribution of MSMEs in the expansion of the tourism industry in the country; which, according to the WTTC, in 2023 will contribute 17.7 billion dollars to the national economy, 10 % above what was registered in 2019.

For this reason, Hayde√© Cabrera, strategic leader of Alegra.com in the Dominican Republic, maintained that the sustained increase in the turnover of these companies is a “testimony to the entrepreneurial spirit and resilience that characterizes the region.”

“The exponential growth of MSMEs in the tourism sector in the last year is a reason for optimism. However, to enhance this scenario, industry entrepreneurs must project their development in the long term and listen to market trends,” he added.

He said that according to Expedia Group, 90% of tourists want to include sustainable practices in their travels. Therefore, it is essential to integrate environmental sustainability into economic growth strategies, promoting the conservation of natural and cultural heritage.

Cabrera highlighted the ability of entrepreneurs to incorporate sustainability into every link of their value chain, from selecting environmentally committed suppliers to waste management and improving energy efficiency.

“Even in everyday tasks such as invoicing their sales, MSMEs have the opportunity to reduce their environmental footprint by opting for cloud-based systems that generate digital invoices, thus avoiding paper waste,” he said.

Source: Arecoa

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