Travel to the DR in June has consistently increased. In 2013, the total number of travelers arriving to the Punta Cana International Airport in June was 431,554, increasing to 480,847 in 2014 and now to 522,490 in June 2015.
Also, there has been a steady growth per month this year: January (7.5%), February (7.2%), March (7.3%), April (3.8%), May (8.1%), June (8.7%).
Punta Cana is leading as the preferred leisure destination, according to the Central Bank Statistics Department.
[July 2015]
The Dominican Republic has around 410,000 businesses, including both formal and informal businesses, according to a survey prepared by the office of Small Business (Pymes) at the Ministry of Industry and Commerce.
Retail shops and stores account for more than 40 % of the businesses across Peravia, La Romana and Espaillat. In La Romana, firms involved in tourism next account for 11.4% of businesses surveyed. While in Peravia and Espaillat, beauty parlors and barber shops are second in importance, with 14.2 % and 12.2%, respectively.
Colmados selling food and beverage prevail, while betting parlors make up 12% of the small businesses in these provinces.
The results of the complete nationwide survey are expected to be available by the end of the year.
[July 2015]
The Central Bank reports that tourism growth of 7.5 % of GDP in 2014 was 3.6 % greater than in 2013. The Central Bank attributes the growth of the sector to a 9.6 % increase in non-resident passenger arrivals. There was also a 3.1 % increase in the national hotel room inventory, with 2,060 new rooms added this year. The Central Bank says that tourism receipts increased by 11.3 %, with tourism contributing an estimated US$5.64 billion to the economy in 2014.
[February 2015]
José Ricardo Taveras, Head of the Immigration Department, has reiterated that foreigners who do not comply with the National Legalization Plan face possible deportation.
Mr. Taveras added that the intent is not to identify and deport illegal immigrants, but to offer clear guidelines on how to go about acquiring legal status in the Dominican Republic. However, he stressed that those who do not choose to regularize their status or leave voluntarily will be expelled from the Dominican Republic.
[April 2014]
The Senate of the Dominican Republic approved over 70 changes to the Code of Penal Procedure recently, stripping away many provisions that were considered too lenient toward the accused in criminal proceedings. Under the bill, still pending enactment by the President, judges may issue search warrants to be executed at night, and order up to 24 months of preventive custody against the accused, instead of the present 12-month limit. A very controversial provision takes away the right of ordinary citizens to file complaints against public officials for corruption.
[March 2014]
Victor Taveras, director of the National Tobacco Institute (Intabaco), announced recently that the Dominican Republic is the world leader in hand-rolled cigar exports. Cigar exports from the Dominican Republic topped $600 million dollars in 2013. Eleven of the Cigar Aficionado Top 25 Cigars of 2013 were made in the Dominican Republic.
[March 2014]
President Medina recently signed into law an amendment to Tourism Incentive and Promotion Law # 158-01. Law # 195-13 expands the scope of tax incentives for the tourism industry in the Dominican Republic to all tourist destinations on the island, and extends exemptions under the law from 10 to 15 years, among other benefits.
For more details, please click here.
[March 2014]
The Customs Department has announced a pilot plan for a one-stop shop facility for international trade starting in mid-March 2014. Several public and private entities will need to synchronize their computer systems for the facility to be fully operational. The pilot program will involve four government departments: Treasury, Agriculture, Public Health and Taxes.
[March 2014]
Everton Resources, a Canadian mining company, announced on March 3, 2014 that it had finalized the definitive agreement to acquire from Brigus Gold Corp. the Ampliación Pueblo Viejo, Pontón and La Cueva mining concessions in the Dominican Republic. Everton Resources is actively exploring in the area adjacent to the Pueblo Viejo Mine, owned by the world’s two largest gold mining companies, Barrick Gold Company (60%) in partnership with Goldcorp Inc. (40%) (“Goldcorp”).
[March 2014]
The Central Bank announced recently that the Dominican economy had grown by 4.1% in 2013, better than estimated. Inflation for last year was 3.88%, below the 5% estimated by the IMF. The year ended with a global surplus of US$938.5 million in the balance of payments, and a record balance of gross international reserves of US$4.7 billion.
Unemployment, however, went up in 2013 to 15%, from 14.3% in 2012. The peso depreciated 5.6%.
[January 2014]