Spanish foreign direct investment increased by more than 217% between 2019 and 2024, rising from USD 354.5 million to USD 1,126 million, according to official figures from ProDominicana
SANTO DOMINGO – The executive director of ProDominicana, Biviana Riveiro, stated that Spanish investment in the Dominican Republic has ceased to be focused exclusively on tourism and has expanded into strategic sectors such as renewable energy, industry, commerce, free trade zones, and connectivity.
During statements made in Madrid and disseminated by the official website of the Presidency of the Republic, Riveiro maintained that tourism continues to be the main historical axis of capital flows from Spain, but highlighted that in the last decade there has been significant growth in the energy sector, especially in projects linked to renewable sources.
According to information published by the Presidency and citing figures from ProDominicana, in the last year alone, foreign direct investment in the energy sector exceeded USD 1 billion, with a significant participation of Spanish and European capital.
The official also noted that connectivity is another pillar of this economic relationship, indicating that the presence of Spanish companies has helped position the Dominican Republic as one of the best-connected countries to Europe.
Background of sustained growth
The strengthening of Spanish investment had already been highlighted in 2025. During the presentation of the report “Spanish Companies in the Dominican Republic. Strategic Allies”, the then Spanish ambassador to the country, Antonio Pérez-Hernández y Torra, reported that Spanish investment reached USD 668.4 million in 2023, consolidating Spain as the second largest foreign investor and as a leader in renewable energies, according to statements collected at that official event.
Likewise, the Official Chamber of Commerce of Spain in the Dominican Republic (CAMACOES RD) indicated on that occasion that it brings together more than 400 companies with Spanish capital or commercial links with Spain, reflecting the depth of the bilateral business fabric.
Spain on the Dominican FDI map
Economic analyses recently published by specialized media indicate that Spain shares the spotlight with the United States within the overall map of foreign direct investment towards the Dominican Republic, particularly in sectors such as residential tourism, hotels and energy infrastructure.
In that context, Riveiro stated, according to the official publication, that the relationship between the two nations transcends the commercial sphere and is based on cultural affinities and shared values. “We are not just the hub of the Caribbean, we are the hub of the Americas,” he said, highlighting the country's access to more than 1.2 billion consumers through its trade agreements.
With cumulative growth exceeding 217% in five years and expansion into strategic sectors, Spanish investment is consolidating its role as one of the structural pillars of Dominican economic development, according to data and statements released by ProDominicana and the Presidency of the Republic.
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