The CHICOS summit, which will take place from November 9 to 11 at the Hilton Hotel in La Romana, is an event that will bring together state participants, investors, operators, suppliers and other members of the tourism value chain to participate in panels, business and investment rounds and other activities in support of the growth of the sector and deepening of commercial ties between its participants.
SANTO DOMINGO- David Collado, Minister of Tourism, announced today that the Dominican Republic will host the Caribbean Hotel Investment and Operations Summit (known by its acronym CHICOS), to be held in November.
In making the announcement, he emphasized that the full recovery of tourism and the income generated by the sector during these two years of President Luis Abinader's administration have been fundamental to maintaining macroeconomic stability in the country.
The event was attended by the president and director of the organizing firm (HVS), Parris Jordan and Nicole Roantree, respectively, along with representatives from ASONAHORES, ProDominicana, and members of the tourism and financial sector of the Dominican Republic.
The CHICOS summit, which will take place from November 9 to 11 at the Hilton Hotel in La Romana, is an event that will bring together state participants, investors, operators, suppliers and other members of the tourism value chain to participate in panels, business and investment rounds and other activities in support of the growth of the sector and deepening of commercial ties between its participants.
Participants include the world's largest hotel chains, along with investment funds and other players in the international tourism sector.
The presence of this important tourism investment fair in the Dominican Republic reflects the country's leadership in attracting foreign capital.
It is recalled that the United Nations Conference on Trade and Development (UNCTAD) recognized in its 2022 World Investment Report, published on June 9, 2022, that the Republic
The Dominican Republic was the leading country in the recovery of foreign investment in the Caribbean during 2021.
Over the past ten years, tourism has increased its share of foreign direct investment from 5-10%, with investment flows of nearly US$200 million per year, to a share of more than 30%, with investment flows of nearly US$1 billion per year, according to statistics from the Central Bank of the Dominican Republic.
“These figures reflect the consolidation of the sector as a strategic pillar for macroeconomic stability and economic growth,” Collado stated.
The official highlighted the importance of the CHICOS summit at a time when the recovery of Dominican tourism is complete and is projected to reach record figures by the end of the year.
“If everything continues as it is, by the end of 2022, the Dominican Republic will receive more than 7.3 million tourists for the first time, a true record,” the official said.
He stated that the Dominican Republic is at its best moment for investment in the tourism sector.
