Economy March 24, 2020 | 8:18 am

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Economist warns: closed hotels impact wide sectors

Santo Domingo.- Prominent economist, Antonio Ciriaco Cruz, on Mon. warned that the closure of hotels nationwide will have an immediate negative impact on jobs in that sector, on foreign currency. and in the levels of linkages with other sectors such as agro, industry and services.

Quoted by Listín Diario, the economist said the temporary closure announced by the hoteliers (Asonahores), around 100,000 tourists will possibly stop arriving in the country, which will result in a lower inflow of foreign currency of around US$136 million, assuming that tourists spend on average US$136 daily.

He said employment levels would drop practically by half of those created in the same period of 2019, which was 327,711 jobs, so the projected level of employment for the first quarter would be around 164,000 fewer jobs than those created in the first quarter of 2019.

“This would increase unemployment in the sector and in the main tourist regions of the country. Likewise, the sales of farm products made by the agricultural sector to the tourism sector will be reduced between 30% and 40%.”

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