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BiggerDominican beer industry injects 92,483 million pesos into economy
Santo Domingo.- The Dominican Republic’s beer industry has made a significant contribution to the country’s economy, according to a recent study released by the consulting firm DASA. In 2022, the industry generated a total of 92,483 million pesos, making it a significant multiplier for productive chains and creating over 50,000 jobs.
The report highlights that the beer industry has a direct impact on the economy, generating more than 3,000 direct jobs and nearly 48,000 indirect jobs through its influence on the acquisition of goods and services throughout the value chain. Additionally, for every direct job in the brewing industry, 16 additional jobs are created due to the acquisition of local goods and services.
In terms of employment, the study estimates that the sector pays out an annual total of 13,748 million pesos in salaries to employees. Moreover, the industry generates significant tax contributions for the government, with an estimated total of 44,000 million pesos in 2022.
The beer industry has a ripple effect on various productive sectors, including cardboard and paper manufacturing, glass bottling, packaging materials, energy and fuels, entertainment and advertising, transportation and logistics, machinery and equipment maintenance services, among others. Furthermore, it boosts sales in retail stores, with grocery stores reporting between 28-33% of their sales coming from beer sales.
The study also highlights that the sector’s purchases of domestic goods and services exceed 14,000 million pesos annually, with 35% going towards manufacturing and the rest towards services. Additionally, beer exports have reached $65 million since 2019.
Looking ahead, the report forecasts that the Dominican economy will experience growth of 5.4% by the end of 2024, making it one of the most dynamic economies in the region. This positive outlook creates a favorable environment for business development and growth.
Overall, the Dominican Republic’s beer industry plays a vital role in driving economic growth and job creation, making it an important contributor to the country’s economic well-being.
Well this is a tongue biter article for sure ! What about the price of the beer ? Considering the low salaries paid to workers, the price should be lower. It was only $100. pesos for a large beer a few years ago. And the paltry deposit for returning the bottles should mean lower prices too. It is a monopoly business.