With 5.6 million passengers in 2015 tourism grew by 6.3%

The Dominican economy grew by 7.0% in real terms during 2015, according to a preliminary report by the Central Bank of the Republic. Tourism grew by 6.3% and inflation recorded was 2.34%.

With this result the Dominican Republic is placed for the second consecutive year as the leader of economic growth in Latin America, well above Panama (5.9%), Bolivia (4.5%), Nicaragua (4.0%), Guatemala (3.9%), Honduras (3.4%), Colombia (3.1%).

Tourism grew by 6.3%, tourist arrivals totaled 5.6 million (including non-resident aliens and Dominicans) for an increase of 8.9%, a result of the arrival of 458,000 additional passengers during the year.

Foreign exchange earnings from tourism totaled US$6.153 million, an increase of $ 9.2, which added to the income from the export of goods, remittances and foreign direct investment totaled US$23,000 million in revenue.

Bank loans to the tourism sector grew by 23%, totaling around US$149 million.

Foreign direct investment totaled US$2.293 million, an increase of 3.8% over 2014. Investment in tourism grew by 47%.

The Central Bank report highlights the relative stability exhibited by the exchange rate as the nominal accumulated depreciation of 2015 was 2.6% over the level recorded in 2014, closing the year with an exchange rate of RD$45.55 / US$.

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