The Dominican Republic leads foreign investment in the caribbean
The Dominican Republic attracted the most foreign investment in the Caribbean during 2011. In total, some US$2.3 billion were invested in the country, a 20% growth over 2010 figures. The Dominican Central Bank reported that in the last 15 years the tourism industry has brought in the most investment. This figure does not include important foreign investments in real estate tourism projects.
The information appears in a recent report issued by the Economic Commission for Latin America and the Caribbean (ECLAC), which also reveals that overall investment in the region grew by 20%, in comparison to 2010 figures.
The country’s Central Bank explains that tourism has for the past 15 years been the economy’s most dynamic sector.
The report also explains during 1998 – 2010 overall foreign investment was US$17.1 billion. Of this amount, US$3.2 billion were channeled to tourism projects.
Experts estimate that the amount invested in the tourism sector is much higher than what has been reported due to increased foreign investment in tourism real estate projects during that same time period, totaling US$2.4 billion.
Source: Access DR
Category: DR News |