Which are the industries that will recover the fastest from the crisis in the Dominican Republic?
The recovery of manufacturing, commerce, construction (residential and commercial), and hotels and tourism will be slower.
The construction (infrastructure projects), mining, pharmaceutical, and medical technology equipment industries are the ones that will recover the fastest from the economic crisis caused by the coronavirus pandemic (COVID-19).
These may even quickly reach levels similar or slightly higher than those perceived before the pandemic, according to the study “The road to economic recovery: the Dominican Republic,” conducted by the global market intelligence and consulting firm Frontierview, a Microsoft request.
In contrast, manufacturing, commerce (durable and non-durable goods), construction (residential and commercial), and hotels and tourism would not recover this income level during 2021, the study revealed, according to a statement from Microsoft.
“The health emergency took digital transformation to a whole new level, condensing years of technological progress into a period of months. As the government, businesses, and citizens of the Dominican Republic adapt to a new normal, technological capability such as the cloud, artificial intelligence, and process automation will be essential to increase their resilience to new scenarios and accelerate their recovery to reach a phase of sustained growth,” considered Herbert Lewy, general manager of Microsoft Caribe.
The FrontierView study identified technology investment profiles that would accelerate the recovery of 15 sectors, including government, based on their current financial capacity and need. These would be transformative investments, productive solutions, cash flow generating solutions, and efficient transformation.
The report details how new technologies can help governments, businesses, and citizens to regain income levels similar to or better than those they had before the onset of the pandemic.