Dominican Republic Becomes Travel Powerhouse in the Americas

The Dominican Republic's presence as a tourism powerhouse has seen significant growth in recent years, now ranking above two major countries, Brazil and Argentina. This is according to Latinometrics, a web company dedicated to creating reports and data on Latin America to inspire, empower, and connect the region's countries.

One of the causes of this increase in visitor statistics is the country's political stability and booming economy, which drive investment. After Mexico, the Dominican Republic is the most visited country in the region, with figures of 7.1 million visitors in 2022 and 8 million last year.

During that period, the country received 60% more tourists than Brazil, the largest country in the region by population and size. Despite being one of the smallest Latin American countries, the Dominican Republic has no trouble attracting investors, as evidenced by its consecutive record years of foreign direct investment (FDI).

Latinometrics argues that political stability is crucial for attracting foreign capital to Latin America, and the recent growth of the Dominican Republic can largely be attributed to the consistent political environment it has enjoyed in recent years, which has remained stable despite a newly elected president.

The country has a relatively diversified export economy valued at $13 billion in 2023, with major exports including medical instruments, electrical products, and tobacco.

However, the real power lies in services, which account for 57% of its economy. Tourism, in particular, is the country's main industry, setting trends in the Caribbean with its substantial annual growth.