Dominican Republic’s Tourism Economic Impact Poised for Growth by 2025

Projected Contributions to the Economy

The Dominican Republic’s tourism sector is on track to surpass $21 billion in contributions to the national economy by 2025, capturing approximately 15.8% of the country’s Gross Domestic Product (GDP) according to the World Travel and Tourism Council (WTTC).

Annual Growth and Employment Opportunities

With a projected growth rate of 3.3% annually, the sector is expected to foster almost 893,000 jobs by 2025, constituting about 17.9% of the national workforce. This growth reflects a consistent increase in activity linked to tourism.

Tourism Spending Forecast

As for tourism spending, international visits are anticipated to generate approximately $11.4 billion by the close of 2025. Additionally, domestic tourism spending is expected to reach around $4.1 billion, underscoring the significance of both international and local tourists in bolstering the economy.

Summary of 2024 Performance

In 2024, the tourism sector contributed $20.5 billion to the GDP, accounting for 16.1% of the economy. This generated over 876,000 jobs, approximately 17.6% of total employment. International visitors spent an estimated $11.2 billion, while domestic tourists contributed $3.9 billion, marking substantial increases of 17.6% and 12.3% respectively compared to figures from 2019.

Travel Trends and Market Insights

Leisure travel is dominant, constituting 93.7% of all travel activities, with business travel making up the remaining 6.3%. The majority of visitors hail from the United States (39%), followed by Canada (14%) and Colombia (4%).

Future Projections

Looking towards 2035, the WTTC predicts an increase in tourism sector contributions to over $29 billion, with a continued 3.3% annual growth rate. A notable increase in employment is also forecasted, reaching approximately 980,000 jobs.

Regional Economic Context

For the Caribbean region, tourism’s contribution to the GDP was about $81.4 billion in 2024, representing 17.6% of the regional economy. Expectations for 2025 project a rise to $86 billion, which would be nearly 18.2% of the region’s GDP and provide over 3 million jobs or 16.1% of the regional workforce.

Key Highlights

• Projected tourism economic contribution by 2025: $21 billion
• Expected annual growth rate: 3.3%
• Jobs created by 2025: 893,000
• International tourism spending forecast: $11.4 billion
• Domestic tourism spending forecast: $4.1 billion
• Leisure travel share: 93.7%

Päätelmä

In summary, the Dominican Republic is experiencing a robust growth in its tourism sector, which is neutral as a driving force in the economy, shaping future job markets, and enhancing domestic and international travel experiences alike. While benefits may be broad-reaching, even the best information and forecasts can’t beat the value of personal experience.

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