Fitur 2024 will bring US$3.5 billion in investments to the Dominican Republic

Madrid.- The Fitur 2024 financings are slightly less than last year when US$3,645 million were announced. Some of these projects are still under construction.

The delegation of the Dominican Republic closed its commercial participation in the International Tourism Fair (FITUR) 2024 yesterday with the satisfaction that it will return to the country with luggage loaded with “gifts:” 19 new tourism projects and 9,000 new hotel rooms in which US$3.5 billion will be invested.

The Minister of Tourism, David Collado, announced a breakfast offered to the press to inform about the results obtained in Fitur 2024, where 58 companies participated.

Regarding banking, Collado explained that Banco Popular Dominicano achieved investments of US$2.5 billion, while Banco de Reservas for US$2.6 billion. By consolidating the projects, because some of them will work together, the total investment reached US$3.5 billion.

Collado also highlighted that 16 agreements were signed, including three airlines, eleven tour operators, and two consortiums of travel agencies. These agreements aim to increase tourist arrivals further and recover some of the markets lost following the inflation caused by the increase in fuel prices and the war between Russia and Ukraine.

“These 16 agreements represent 322,000 tourists from the European market to the Dominican Republic,” Collado said. He added that these tourists would have a foreign exchange impact of more than US$280 million and would, directly and indirectly, generate more than 26,000 jobs.

He cited among the most critical agreements those signed with Air Europa, which will maintain its seven weekly flights and will add another two to Santiago, and with Alpitour, which will hold its four weekly flights to La Romana also to provide the connectivity lost with the departure of Air France.

Other agreements were with Soltour of the Piñero Group to consolidate the Spanish and Portuguese markets, with the online agencies Lastminute.com, with eDreams Odigeo and Destinia.com.

The projects
Regarding the 9,135 rooms to be built in the 19 tourism projects, Collado indicated that 2,048 will operate in summer, 3,106 in winter, and the rest will be ready by 2025.

Among the projects announced at Fitur are the Playa Serena Puntacana Resort of the Puntacana Group, which will have 80 rooms, and the Wyndham Blue Del Mare at Cap Cana, which includes 282 residences.

Banking working together
Before Collado spoke, René Grullón, senior executive vice-president of National and International Businesses of Banco Popular Dominicano, and Ysidro García Peguero, deputy business administrator of Banco de Reservas, emphasized that the three central banks of the country are working together to accompany entrepreneurs who want to invest in the tourism sector.

Grullón highlighted the excellent investment climate that exists in the country and assured that the social, economic, and political stability is responsible for this. Later, García highlighted the brotherhood between the sector and the Ministry of Tourism.

In addition to Grullón and García, David Llibre, president of the Association of Hotels and Tourism of the Dominican Republic (Asonahores), spoke and praised the efforts made at Fitur 2024, which have made it possible for the Dominican Republic’s tourism sector to consolidate.