Dominican Republic tourism “remains strong” while competitors are declining
Amid an international landscape marked by geopolitical conflicts, rising oil prices, and a global economic slowdown, the Dominican Republic is benefiting from the deterioration affecting some of its main tourism competitors in the Caribbean and parts of Latin America.
This was stated by Richard Medina , an economist and financial advisor, during the Economic Forum Economic Perspectives 2026, organized by the CCI Stock Exchange and Ecoanalítica , at the El Embajador hotel.
I have maintained that Dominican tourism continues to perform well, even amid international uncertainty stemming from the conflict between Iran and the United States and rising oil prices.
«I still see tourism as quite strong,» he stated. The economist explained that part of this performance is due to internal problems faced by competing destinations in the Caribbean and Mexico , which are redirecting visitors to the Dominican Republic.
«Cuba is in crisis; some of Cuba’s tourism should come here,» he said. He also mentioned Jamaica, which was affected by recent weather events. «Jamaica is in crisis after the hurricane; some of that tourism comes here,» he said.
He added that Cancun , one of the Dominican Republic’s main regional competitors in tourism, is also a factor. «Cancun has a security crisis; some of that tourism could end up here,» Medina stated.
The economist also noted that the country is performing well in non-traditional source markets, especially in South America, according to El Dinero.
«Tourism from Colombia and Argentina has been performing very well,» he stated. He has explained that this diversification helps reduce dependence on traditional markets to some extent and strengthens the country’s position in a more complex global landscape.
However, Medina warned that the Dominican Republic is not completely isolated from a possible international economic slowdown. «If there is currently a situation of low growth in global tourism, we will also be affected,» he said.
Even so, he insisted that the outlook for the Dominican tourism sector remains favorable this year. «Even so, I believe we are going to have a good year for tourism,» he said.
The analysis was conducted regarding the context of an exhibition focused on the economic impact of the conflict in the Middle East on the Dominican Republic, particularly oil, inflation, and public finances.
Medina explained that the country maintains a certain strength thanks to the recent good performance of the sectors that generate foreign exchange.
«The sectors that generate foreign exchange are performing well,» he said. However, I have noted that the Dominican Republic remains highly vulnerable to international shocks due to its energy dependence and strong ties to the global economy.
