Economy September 11, 2022 | 12:10 pm

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In the Dominican Republic, the beer market represents nearly 3% of GDP

In the Dominican Republic, the beer market represents 2.7% of GDP

Santo Domingo, DR.

Having a beer at a party, a cookout, a stadium, or a grocery store not only means toasting good times but also boosts local economies worldwide.

This is confirmed by the 2022 report, “Global Economic Footprint of Beer,” prepared by Oxford Economics on behalf of the Worldwide Brewing Alliance (WBA), which studied for the first time the global economic impact of the beer industry.

The report demonstrates the strong contribution of beer to global gross domestic product (GDP), job creation, and tax collection, a trend that is also reflected in the Dominican economy.

As part of the main conclusions of the Oxford Economics study, which uses data prior to the 2019 pandemic, beer production and distribution contributed US$555 billion to global GDP, a contribution that also translates into economic benefits for local communities, creating a value chain that stretches from farmers to shippers, small retailers, customers, restaurants, bars, and hospitality industry establishments.

This impressive global impact is reflected in the Dominican Republic. According to local data, beer consumption represents 2.7% of GDP. This translates into a positive impact on the economy, the value chain, and especially on small businesses such as grocery stores.

The economic boost of the brewing industry is also reflected in its ability to generate jobs. The Oxford Economics report highlights that this industry generated more than 23 million jobs internationally (1 out of every 110 jobs in the world).

Taking it to the local level, it is estimated that the production and marketing of beer in the Dominican Republic generates more than 130,000 jobs throughout the value chain.

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