Banco Popular contributes 50% of financing to Dominican tourism sector

Paris.- Banco Popular Dominicano has become a major financial backer of the Dominican Republic’s tourism, providing 50% of the sector’s funding. Credit facilities disbursed and approved for future disbursements have reached $1.6 billion, as of September, including contributions from Popular Bank, its international banking subsidiary based in Panama.

This significant financial support directly impacts the development of tourism infrastructure, the renovation of over 30,000 hotel rooms, and the creation of jobs—both direct and indirect—benefiting more than 35,000 individuals.

These figures were disclosed at a dinner hosted by Banco Popular for hoteliers, tour operators and other tourism sector representatives during the IFTM-Top Resa (International French Travel Market) event, held this week in Paris, France. The fair, a key international platform for tourism promotion, attracts more than 30,000 professionals from the global travel segment.

Juan Manuel Martín de Oliva, Vice President of Tourism Business at Banco Popular, highlighted the bank’s significant role in tourism, stating that “Banco Popular holds a market share exceeding 37% in this vital sector of the Dominican economy.” He emphasized the bank’s longstanding commitment to Dominican tourism, which began more than three decades ago when Banco Popular pioneered tourism financing and later created the first specialized banking unit to meet the needs of the national tourism sector.

Martín de Oliva further explained that as the “bank of tourism,” Banco Popular continues to promote the sustainable development of a sector essential to the growth and well-being of Dominican families. Currently, the bank is reviewing additional loans worth over $570 million. These funds are earmarked for hotel projects in various stages of development, ensuring short-, medium-, and long-term expansion of the national tourism offering.

Business meetings

During this year’s IFTM-Top Resa, Banco Popular’s delegation is holding business meetings with potential investors and tour operators interested in entering or expanding their operations in the Dominican Republic, supported by the bank’s financial services.

This financial backing has improved the competitiveness of Dominican tourism, positioning the country as a high-quality destination on the global stage. It has not only attracted more international visitors but also encouraged new foreign investments that continue to strengthen the country’s tourism infrastructure and create additional employment opportunities.

Banco Popular’s ongoing support of the tourism sector underscores both its market leadership and its commitment to the nation’s economic growth. These investments have driven the development of large and small tourism projects, helping both established companies and emerging enterprises thrive in the sector.