Tourism April 14, 2024 | 8:00 am

Tourism leads in attracting foreign direct investment in the Dominican Republic

Santo Domingo—Tourism and energy activities represent the main sources of Foreign Direct Investment (FDI) in the Dominican Republic. FDI reached US$4.39 billion in 2023, surpassing Costa Rica’s leadership in 2020, 2021, and 2023.

Statistical data from the Export and Investment Center of the Dominican Republic (ProDominicana) show a growth in foreign investments in the tourism sector between 2022 and 2023, going from US$1,050 million to US$1,182.1 million.

The energy sector increased significantly from US$749 million to US$1,071.1 million between 2022 and 2023.

The growing sectors are commerce, real estate, free trade zones, mining, and finance.

The most significant foreign investments in the country come from the United States, followed by Spain, Mexico, and Canada.

The Foreign Investment Law 16-95 is applied in the country. The total amount of FDI reached by the government in 2023 was US$4,390.2 million, equivalent to a growth of 7.11 % in 2022.

Costa Rica registered an amount of US$3,921 million of foreign investment, for a growth of 131 % concerning the US$3,000 million obtained in 2022, according to Listín Diario.

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