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BiggerDominican Republic ranks seventh in Latin America for tourism
In 2024, the Dominican Republic ranks seventh among the Latin American countries with the highest income in the tourism market, according to forecasts by Statista Market Insights. The country is projected to experience a growth rate of 15%, surpassing the figures from 2023 and translating to an estimated average profit of around $600 million.
This forecast encompasses revenue from various sources, including hotel reservations, cruises, tourist packages, and vacation rentals. As the world’s tourism sector nears recovery, reaching almost 90% of pre-COVID-19 pandemic levels by the end of 2023, the World Tourism Organization (UNWTO) anticipates complete recovery in Latin America and the Caribbean in 2024.
Statista Market Insights predicts a 13% increase in tourism and travel revenue globally in 2024. Brazil leads this projection, with expected income of approximately $16.81 billion, surpassing the previous year’s $15 billion. Following closely, Mexico is projected to generate around $14.8 billion, driven by a threefold increase in demand for hotel reservations post-2020 pandemic. Argentina secures the third position with an estimated sector income above $7 billion, while Colombia is expected to reach around $3.8 billion.
The Dominican Republic, along with Peru and Chile, is forecasted to experience growth above 10% in the tourism market in 2024, while Bolivia is expected to achieve a growth rate of 9%. These projections underscore the region’s positive outlook for the coming year in terms of tourism revenue and economic recovery.
I’m not sure I comprehend this survey/report… The DR receives more tourists than all those countries except for Mexico, yet it ranks 7th in tourism income? How come?
Mainly because most of that tourism is in all-inclusive resorts and 6-hour cruise stops, where visitors do not spend money. The money they have spent is to offshore corporations in Spain and other countries.
thats false. they are counting internal tourism, is not international tourism only. A country like brazil with 200 million people only receives 3 million international tourist but has a massive internal tourist industry.
Counts cruse ships..also the reality of…also counting dominican nationals who spend their whole life it seems..going back n forth..cruises cannot be counted..if that was the case …imagine countries such brazil..mexico..Argentina n even puerto ???????? what would their numbers look like
The revenue generated by the tourism sector in the DR in 2023 was $10 billion dollars, so this is a bit confusing.