Economy January 15, 2024 | 9:57 am

Buy car in DR

Tourism the Dominican Republic’s path to wealth, says Cap Cana President

photo from arecoa.com

Santo Domingo.- Fernando Hazoury, President of Cap Cana’s Board of Directors, emphasized the pivotal role of tourism in the economic growth of the Dominican Republic. He likened tourism to the nation’s “oil,” underscoring its potential to transform the country from a developing to a wealthy one. Hazoury stressed that despite the achievements to date, there remains significant room for expansion in the sector, advocating for greater ambition.

During the announcement of December 2023’s tourism results, Hazoury also underscored the development of the Cap Cana project, envisioning it as a comprehensive tourist city. He proudly noted Cap Cana’s current success and potential for growth, humorously remarking that, at 20 years old, it still has decades before it reaches maturity. This, he suggested, indicates ample opportunities for further development in the area. Hazoury’s comments highlighted the effective collaboration between the private and public sectors, contributing to the sector’s substantial progress and organization in 2023.

0 0 votes
Article Rating
Subscribe
Notify of

5 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Tomas Gato
January 15, 2024 10:18 am

I would expect no less from someone lively hood depends on tourism. Yet there more to be made from industry and agriculture.
Some of these tourism fanatics would have us all changing beds and carrying suitcases for a living.
Folks better start waking up to the reality of economics

Paul Tierney
January 15, 2024 8:18 pm
Reply to  Tomas Gato

There are quick gains for the government through tourism taxes. However, the economy cannot depend on tourism income. It needs diversification of income generators to maintain a stable and robust economy. Agriculture, heavy industries, technology, commerce and service sectors need more development. Tourism will take care of itself.

Last edited 1 month ago by Paul Tierney
DCamp21
January 15, 2024 10:31 am

There is no denying that tourism has and WILL continue to play a pivotal role in the country’s economic growth and expansion, but I would love to see our government express similar interest in developing other industries like logistics and technology.

DR has the potential to become the next Singapore or Taiwan. But for the country to make a quantum leap in development, we need to expand BEYOND tourism.

Paul Tierney
January 15, 2024 9:05 pm
Reply to  DCamp21

Agree!

Peter Harris
January 16, 2024 7:31 pm

Tourism is a beautiful way to expose the country and to make money. But who is getting wealthy ? It sure is not the faces of the people who are featured in your marketing campaigns! Most Dominicans I know are broke. Their main concern is enough money for food and medicine. Tourists would be shocked to see their living conditions .