The Dominican Republic is known for its beautiful beaches, lush greenery, and vibrant culture. It is a popular tourist destination, attracting millions of visitors each year.
But just how much does tourism contribute to the country’s economy? Let’s take a closer look.
Overview of the Dominican Republic Economy
The Dominican Republic has a mixed economy that is heavily reliant on services and manufacturing. Agriculture also plays a significant role in the economy, particularly in the production of sugarcane, coffee, and tobacco.
Tourism in the Dominican Republic
Tourism has become increasingly important to the Dominican Republic’s economy over the past few decades. In fact, it is now one of the largest sectors in terms of employment and revenue generation.
According to data from the World Travel & Tourism Council (WTTC), tourism directly contributed 7.1% of GDP in 2019. When you include indirect contributions such as supply chain effects and capital investment, this figure rises to 17.3% of GDP.
Employment
Tourism also plays a significant role in employment within the Dominican Republic. It directly employs over 330,000 people, which accounts for around 8% of total employment in the country.
When you include indirect employment such as jobs created by supply chain activities or induced effects (e.g., when tourism workers spend their wages on goods and services), this figure rises to over 830,000 jobs or around 20% of total employment.
Revenue Generation
Tourism is also an important source of revenue for the Dominican Republic. In 2019, it generated over USD 7.6 billion in visitor exports (i.e., money spent by foreign tourists).
When you include indirect contributions such as government taxes on tourism-related activities or investment spending by tourism companies, this figure rises to USD 16.3 billion or around 39% of total exports.
Conclusion
In conclusion, tourism is a significant contributor to the Dominican Republic’s economy. It directly and indirectly supports millions of jobs and generates billions of dollars in revenue each year. As such, it is an industry that will likely continue to play an important role in the country’s economic development for years to come.
- Direct Contribution: 7.1% of GDP
- Total Contribution: 17.3% of GDP
- Direct Employment: over 330,000 people
- Total Employment: over 830,000 people
- Visitor Exports: USD 7.6 billion
- Total Exports: USD 16.3 billion
Sources:
– World Travel & Tourism Council (WTTC)
– Trading Economics
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