Dominican Tourism Grows by 6.4% in 2016

The Dominican Republic’s tourism sector experienced an impressive 6.4% in 2016, revealed a report on the local economy prepared by the country’s Central Bank.

On the local economy, the report indicated that the Dominican Republic ranked first in Latin America with a sustained 6.6% growth.

The report also reveals that the local construction sector grew by 8.8%, agriculture by 9.6%, trade by 5.9% and mining and financial intermediation by 26.5% and 11.0%, respectively.

The Central Bank reported that the Dominican economy came in first in comparison to other Latin America nations, experiencing a 6.6% growth last year.

On other aspects of the economy the Bank report also indicated that inflation during 2016 closed at 1.70%, the second lowest reported in more than 33 years.

At the same time, and due to the “good performance of the external sector in response to monetary policies” the strengthening of the country’s macroeconomic platform was evidenced by the low numbers – below the Latin American average – presented by the Emerging Markets Bonds Index in the category of country-risk perception.

The Central Bank also reports that the tourism sector is crucial for the growth of the Dominican economy, reflected in the record number of tourists that are visiting the country.

By the end of 2016, approximately some six million tourists visited the Dominican Republic, a 10% growth in comparison to 2015 numbers.

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