Tourism, the great protagonist of the Dominican Republic’s economic growth in 2024

Santo Domingo.- The Dominican tourism sector is consolidating itself as the country’s main economic engine, managing to close 2024 with record visitor arrivals, an expansion of its hotel plant, and a considerable improvement in average tourist spending.

For economist Jaime Aristy Escuder, the growth exhibited by the DR economy in the just-ended year was leveraged mainly by the contributions of the tourism sector, an industry that remains unstoppable.

“The activities of the tourism sector together with commerce, construction and local manufacturing contributed tangibly to the increase in Dominican GDP in 2024,” he said.

He indicated that the growth mentioned above is in line with the estimates of the Central Bank, which indicate that the economy would register the highest growth rate in the entire region last year.

He said that the Dominican economy will remain at a good pace in the future. Proof of this is the current international environment’s favor for the country, as well as the fact that the United States, the nation’s main trading partner, projects a growth of 2.7% for this year, despite the fact that the interest rates of the Federal Reserve and the Treasury Notes are High.