Economy January 8, 2024 | 8:12 am

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Banco Popular dominates tourism financing at FITUR 2023

Madrid.- The Dominican Popular Bank is set to reinforce its prominent role in financing and supporting the national tourism industry at the 44th edition of the International Tourism Fair (FITUR). This significant event is scheduled to occur at the Ifema fairgrounds in Madrid, Spain, from January 24 to 28.

Banco Popular’s delegation plans to engage in a busy schedule, with over 30 business and institutional meetings. These sessions will focus on evaluating new tourist developments, providing financial advice to corporate clients in the tourism sector, promoting the Dominican Republic as a desirable investment destination, and announcing institutional agreements to further bolster the tourism industry.

A long-standing supporter of tourism in the Dominican Republic, Banco Popular has been the primary financier for the industry for over three decades. It boasts the first team of bankers specialized in tailoring financial solutions to the unique needs of clients in the hotel and tourism sectors.

As a leader in tourism financing, Banco Popular has played a crucial role in promoting foreign direct investment in tourism and the influx of foreign currency. The bank has been instrumental in creating over 33,000 direct jobs and facilitating the development of more than 26,500 hotel rooms. As of December 2023, its placement portfolio stands at US$1.3 billion, inclusive of contributions from Popular Bank, a subsidiary of Grupo Popular with an international license.

The bank’s significant contributions to the hotel and tourism sector have earned it the moniker “Tourism Bank” and numerous accolades from entities like the Ministry of Tourism and the National Association of Hotels and Tourism (Asonahores).

At FITUR 2023, Mr. Zurab Pololiskashvili, secretary-general of the World Tourism Organization, lauded Banco Popular for its steadfast support of the tourism sector. He hailed the bank as a global exemplar for its commitment to the sustainable development of tourism.

FITUR serves as a crucial gateway to European markets for both tourists and investors, with significant influence in Latin America and destinations like the Dominican Republic. It offers a unique platform for participants to promote brands, introduce new products, stay abreast of the latest trends, and forge alliances to facilitate the recovery or growth of their tourist destinations.

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