The economy of the Dominican Republic

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The Dominican Republic occupies the first position in tourism revenues, the second in remittances and foreign. Direct investment and the third in exports in Central America and the Caribbean island. Small and medium enterprises, tourism, agriculture, Free Zones, construction, and commerce have expanded. At the same time that Dominican society is democratized, which has allowed more than 1,500,000 Dominicans to get out of poverty and 650 thousand have overcome extreme poverty.

The Economy of the Dominican Republic grew 6.2% annually on average between 2012-2019. According to the Economic Commission for Latin America and the Caribbean (ECLAC), we will grow 5.7%, being the leading economy in 2019.

Tourism and remittances are the pillars of the Dominican economy In 2005. The Dominican Republic managed to recover with a package of measures aimed at the financial system and the rebalancing of public accounts. The economy has returned to levels above 5 percent, until doubling the per capita income in 2018, having unemployment at a minimum and controlled inflation.

Tourism and remittances are the economic engines that have made recovery possible. The stability of fiscal and monetary policies is one of the constants that stands out internationally. One of the main pillars of sustained growth that has made the Dominican Republic compete with Panama as the most robust economy in the region. In 2018, GDP reached an increase of 7 percent, above any country in the area and leading Latin American growth. The forecasts for 2019 are somewhat lower due to the slowdown of the economy at a global level. Although it could be offset by domestic demand through income and credit growth.

The past summer has been a couple of incidents with the death of many Americans that still in the investigation, which can hurt the economy pretty bad. As everyone knows the Dominican Republic trying to the best cause to solve the problems why is this happening, which a lot of us know they not going to do such thing to hurt the booming economy.

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