The Dominican Republic’s tourism industry is the country’s third most important foreign investment attraction.
According to the Center for Export and Investment of the Dominican Republic, during the last 20 years this thriving sector has received US$3.8 billion in foreign capital while the country has taken in some US$26 billion in income generated by the industry.
Last year some 4.6 million foreign tourists visited the Dominican Republic through the country’s various international airports.
Direct foreign investment in the country during these last two decades has surpassed the US$26 billion mark.
Of this total amount, US$5 billion went to investment in the trade and industrial sectors, and US$4 billion to the mining sector.
During 2013 direct foreign investment in the country’s tourism sector was US$256.5 million, that is 12.3% of the overall US$2 billion invested in various national sectors.
The most recent and significant cases of foreign investment in the Dominican Republic are the Memories Splash Punta Cana and the Royalton Punta Cana hotels, owned and operated by the Canadian hotel chain Blue Diamond Hotels.
Both hotels opened during the month of December 2013, with an overall investment of more than US$250 million.
The new Law No. 195-13 on tourism incentives, which amended Law 158-01, provides interesting incentives to national and international investors looking to invest in tourism projects across the country.