Tourism March 9, 2022 | 5:02 pm

Dominican Republic could lose US$400 million due to drop in Russia and Ukraine tourism

Conflict also creates excellent uncertainty in world trade

 

The economic adviser to the Executive Branch, Pedro Silverio, stated that the Russian invasion of Ukraine is affecting the Dominican economy, which is affected by tourism and increases in fuel and grain prices.

He stated that last year 260,000 tourists arrived in the country from Russia and Ukraine, and everything was planned so that in 2022 the figure would double, but the outbreak of the war closed the markets, which may mean that the country stops receiving approximately US$400 million.

When interviewed by Pablo McKinney on his television program “McKinney” by Color Vision, he added that the conflict is creating great uncertainty in world trade since Russia participates in the sale of oil, gas, and finished products in Europe and the United States.

He considered that the sanctions imposed on Russia would be difficult to dismantle even after the military operation was over.

President Luis Abinader’s adviser also explained that in the face of the inflationary effects caused first by the pandemic and now by the war in Ukraine, the government is responding with a combination of monetary and fiscal policy.

“President Abinader’s commitment to macroeconomic stability is non-negotiable, and he is permanently working with his economic team. That is why the government makes decisions to protect the most vulnerable and take care of macroeconomic stability,” Silverio pointed out.

0 0 votes
Article Rating
10 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Mr. Sensible
March 9, 2022 5:15 pm

We survived in the past without them. We can survive a future without them.

Paul Tierney
March 9, 2022 6:03 pm

It’s time to explore new overseas markets to tap or expand, Japan, India, Africa, Australia ?

hotgarlicbread
March 9, 2022 8:03 pm
Reply to  Paul Tierney

maybe you are unaware but the DM has a policy of free visa entry for those countries (excluding india) and i know africa is not a country but the last time i saw it 4 countries in africa were also able to come and visit without visa. Practically all the countries whose incomes are higher or similar to the dm’s are able to

Ann
March 9, 2022 8:17 pm

Good riddance! Many people have been avoiding DR because of russians. Worst tourists ever! I’ll finally visit this beautiful country once rusians are gone.

John
March 10, 2022 9:32 am
Reply to  Ann

Agreed! drunken ignorant fools who take over the resort! Loud and obnoxious!

nicholas
March 9, 2022 8:33 pm

time to train our ppl to write software or build things for import vs. serving drinks at hotels (really is a joke)

Last edited 4 months ago by nicholas
John Polanco
March 10, 2022 9:55 am
Reply to  nicholas

Or train the people to farm industrial hemp for billions. Could start tomorrow, no lengthy education needed, and 3-4 harvests per year. Would instantly replace the missing tourist revenue.

alfredo
March 10, 2022 8:12 am

Meanwhile most of the world is not sanctions loco…

Felix Arroyo
March 11, 2022 12:34 am

It is important that DR continue seeking these customers. Do not play other people games (like the one Washington is pushing for). The troubles in eastern Europe are foreign to us. All we should care about is trade with them.
Ignore all cold war tensions. We don’t know who will be the one who will help us when we are in trouble. Right now, we are infested with foreigners from the neighboring country and there will be a time of purge and restoration of the Dominicanity!

Senor Beard
March 11, 2022 11:25 am

Many Ukranians can’t come because they are dead. And tourism in general will suffer because of BIDENFLATION…Call the Clintons up hey have money