At the opening of the event, the Deputy Minister of Tourism, Jacqueline Mora, explained that this sector contributes 18% of GDP and outlined the main challenges it faces in light of market changes.
UVERO ALTO, LA ALTAGRACIA PROVINCE - The Deputy Minister of Tourism, Jacqueline Mora Mora, stated this Friday that with financing, the banking sector becomes a motivator of foreign tourism investment, managing risk levels and providing confidence to entrepreneurs developing projects in the country.
During the opening of the thematic agenda of the CIFA SELATCA 2025 Congress, the economist gave the inaugural lecture entitled "Between Banking and the Caribbean: The impact of the financial sector on tourism.".
During his speech, he highlighted that tourism represents approximately 18% of the country's gross domestic product (GDP), with an estimated added value of US$22.19 billion by 2022. Of this impact, 78% comes from the flow of tourists, while 22% is directly associated with investment in the sector.
Within this last component, 8% of the economic impact is generated by the participation of local banks, which demonstrates their strategic role as a channel for resources and a generator of confidence, he specified.
"For years, local banks have become a key partner for tourism investors. When banks provide financing, they are essentially partners as well, and they manage the risk levels of that project," the official stated.
Mora also pointed out that, beyond credit, the banking sector actively contributes to building a favorable environment for attracting national and international capital, which strengthens the destination's competitiveness in the Caribbean.
Among the challenges facing tourism in the country, the vice minister mentioned the need to diversify the tourism offer, turn the Dominican Republic into a regional air transport hub, strengthen the management of destinations on a Caribbean scale and promote a territorial reorganization that integrates sustainability and planning.
Opening remarks
Rosanna Ruiz delivered the welcoming remarks on behalf of the Dominican Republic's Association of Multiple Banks (ABA) and BDO Business School, the entities organizing the event, which will run until this Sunday. The ABA president elaborated on the financing that banks offer to the tourism sector, highlighting that the loan portfolio reached RD$106.806 billion as of May of this year.
The CIFA-SELATCA congress is taking place from this Thursday at the Convention Center of the Live Aqua Beach Resort, in Uvero Alto, La Altagracia province, with the participation of some 250 professionals from auditing, finance, administration and other areas.
The thematic agenda addresses the transformation of internal auditing; modern financial risks and the fight against organized crime; innovation and regulation; psychology, ethics and soft skills in internal auditing, among other topics.
