Around US$3.5 billion, which will contribute more than 9,000 new hotel rooms in different destinations of the country, with 19 new tourism projects, was the balance offered this Friday by the Minister of Tourism, David Collado, when detailing the achievements of the Dominican Republic's participation in Fitur 2024.
In 2023, the Tourism sector reported investments of $3.645 billion and the signing of 11 cooperation agreements that would impact the arrival of tourists, which at the end of last year closed at more than 10 million visitors to Dominican soil.
“We have mapped out a plan to develop 19 new hotel projects over the next three years, which will add 9,135 rooms, with an estimated investment of $3.5 billion. Of those rooms, 2,048 are expected to be operational by this year’s summer-winter season and another 3,106 by 2025,” Collado stated.
He said that at Fitur, important agreements were signed with airlines, travel agencies and tour operators in the region to improve connectivity, position the destination brand, and reach new segments.
Specifically, a total of 16 agreements have been signed, including three airlines, 11 tour operators and two with travel agencies.
David Collado cites achievements obtained by the Dominican Republic at Fitur 2024. (External source).
"The objective of these agreements is to attract 322,000 passengers, with a foreign exchange impact exceeding $280 million, and which directly and indirectly represent more than 26,000 jobs.".
He also highlighted the importance of the agreements signed with Iberia, Air Europa, Edelwise, Avoris, Nautalia, Soltour, Dreams and Viajes el Corte Inglés, among others.
Collado explained that 53% of the meetings were related to attracting investment and to travel agencies and tour operators.
"Today we conclude our commercial activity at Fitur, the most important International Tourism Fair for the Dominican Republic. We leave with enormous satisfaction and a full and challenging work agenda," the minister stated.
At the event, René Grullón, senior executive vice president of National and International Business at Banco Popular Dominicano (BPD), reported that the banking institution closed deals worth US$2.5 billion, US$1.2 billion in addition to the initial portfolio of US$1.3 billion, after highlighting that this edition has been very successful.
He said that Fitur 2024 will be remembered for the 10 million visitors it attracted in 2023. He highlighted the favorable investment climate in the Caribbean country and the institutionalization of public-private partnerships. Grullón emphasized that no other stand at the fair saw such a strong presence of private banks. “More than 80% of the banking sector was there,” he stated, referring to the participation of the three main Dominican banks (Banco Popular, Banco de Reservas, and Banco BHD).
Meanwhile, the Reserve Bank announced that it attracted investments of more than USD$2.6 billion, which include the construction of some 25 new hotels.
The Deputy Business Administrator, Ysidro García, reported that the financial institution will be structuring financing for projects worth approximately USD$1.5 billion, which will contribute to job creation and benefit the country's economy, with activities linked to tourism.
