The total contribution of Tourism and Travel to the country’s GDP in 2018 is estimated to be DOP202.2bn, an equivalent of 4.4 percent (WTTC, 2018). By 2028, the direct contribution made by Travel and Tourism to the country’s GDP is projected to grow to DOP283.0bn, an equivalent of 3.4 percent (WTTC, 2018).
In 2017, the Travel and Tourism sector of country created a total of 206, 500 jobs which equates to 4.8 percent of the country's total employment. Employment increased by 2.5 percent, which is equivalent to 211, 500 jobs by 2018 (WTTC, 2018). The growth prospect forecasts to 4.8 percent of the country's total employment, including the activities of leisure industries and restaurants that acquire direct support for tourists (WTTC, 2018).
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Presently, the country is ranked 76 globally. The country has 4.4 percent growth from the Travel and Tourism sector to the country’s GDP (WTTC, 2018). It was also ranked at position 86 worldwide with 2.5 percent total growth as a result of the direct contribution made by on the country's employment. Between 2018 and 2028, it is projected that the direct contribution of Travel and Tourism to the country's GDP will be at 3.4 percent per year and 1.7 percent total contribution to employment per year (WTTC, 2018).
From an economic perspective, the strengths and weaknesses of tourism in the country include the Foreign Direct Investment (FDI) policies that both inhibit and aid tourism. Additionally, its national carriers are mostly limited to national roots and some regional routes hence facilitating increased competitiveness and the readiness to create courses among the leading global carriers.
Tourism opportunities in country result from its closeness to North America, its robust relationship with the European markets, the high productivity course Punta Cana, the underutilized natural assets and the popularity gained by golf. The country’s tourism, however, is threatened by the lack of strategy and coordination that minimizes the efficacy of marketing.
Fun Facts
The country’s currency, Dominican peso, is abbreviated as DOP
The country’s historical, natural assets are underutilized
References
World Travel and Tourism Council (WTTC). (2018). Travel and Tourism: Economic Impact 2018 Dominican Republic . Retrieved from https://www.wttc.org/-/media/files/reports/economic-impact-research/countries-2018/dominicanrepublic2018.pdf
