Real estate tourism in DR generates over 34,000 jobs

Santo Domingo.- Real estate tourism has solidified its position as a cornerstone of the Dominican Republic’s economy, with investments surpassing US$10 billion in tourism construction projects spearheaded by members of the Dominican Association of Real Estate Tourism Companies (ADETI).

ADETI executives have underscored the importance of maintaining the government’s policies that promote the country’s tourism development, particularly Law 158-01, which has provided the tourism industry with the essential tools to enhance its competitiveness as a leading Caribbean destination.

Eduardo Read, President of ADETI, along with Vice President Yudith Castillo and Executive Director Michael Lugo, conveyed these sentiments during a courtesy visit to Listín Diario director Miguel Franjul and subdirector Fabio Cabral. The meeting provided an opportunity to exchange insights on the growth of real estate tourism in the country and its impact on the national economy.

ADETI has created over 34,000 direct jobs, contributing a significant portion of the 124,000 non-hotel accommodations. The sector has also attracted substantial foreign investment and stimulated the growth of other industries such as construction, retail, and hospitality, generating a multiplier effect on the Dominican economy.

The Ministry of Tourism’s statistics on investments approved by the Tourism Promotion Council (CONFOTUR) further highlight the sector’s dynamism. In 2023 alone, approximately 65 projects received final approval, of which 76% were real estate tourism projects. This represents an investment of around US$2 billion and is projected to add over 10,000 rooms. Similar figures are anticipated for 2024.