February 2015 - Guzmán Ariza | The Dominican Republic Law Firm

Punta Cana Attracts the Most Tourists in the DR

A total of 290,194 tourists arrived at the Punta Cana International Airport in January, 66.6% of all tourists arriving in the Dominican Republic that month, since Punta Cana has the largest number of resorts in the country. An additional 14,856 passengers traveled to Punta Cana in January 2015 compared to January 2014.

14.3% of arrivals flew to Las Americas International Airport (Santo Domingo) followed by 11.2% to Puerto Plata, 3.1% to La Romana and 2.9% to Santiago’s international airports. Northern Santo Domingo’s La Isabela and El Catey in Samana made up for the remainder 1.9% of travelers.

[February 2015]

Central Bank Clarifies Economy Grew 7.3 % in 2014

The Central Bank reports that a study of the bank’s preliminary data has allowed for a revision of the 7.1% growth in GDP in 2014 to 7.3%. The Central Bank says that the additional 0.2% comes from construction that was originally estimated to have value added growth of 11.4% for January-December. This has been revised to 13.8%.

Growth rates by sector were as follows: farming (4.4%), mining (20.3%), local manufacturing (5.5%), construction (13.8%), energy and water (4.7%), commerce (4.9%), hotels, bars and restaurants (7.5%), transport and warehousing (6%), communications (5.2%), financial services (9.1%), education (8.4%) and health (7.6%), for a combined 70%.

The growth of the sector has been attributed to an increase in steel rebar sales from 15.1% to 17.6%, and in loans.

According to the Central Bank, 2014 was a year of economic consolidation.

[February 2015]

Tourism grew 7.5 % in 2014

The Central Bank reports that tourism growth of 7.5 % of GDP in 2014 was 3.6 % greater than in 2013. The Central Bank attributes the growth of the sector to a 9.6 % increase in non-resident passenger arrivals. There was also a 3.1 % increase in the national hotel room inventory, with 2,060 new rooms added this year. The Central Bank says that tourism receipts increased by 11.3 %, with tourism contributing an estimated US$5.64 billion to the economy in 2014.

[February 2015]