Dominican Republic Tourism Seeks Investors at World Expo

The Dominican Republic has announced that it will participate at the postponed Expo 2020 Dubai — the largest event to ever take place in the Arab world. The Dominican government has said the appearance will be an opportunity to showcase the globally-renowned Dominican Republic tourism industry, as Latin America’s eighth-largest economy looks to attract new investment and fully reactivate its economy following the turmoil of the coronavirus pandemic.

A photo of Dubai, where Dominican Republic tourism will be showcased at the upcoming Expo (photo: David Rodrigo / Unsplash)
Expo 2020 Dubai is the first world expo in the MEASA region

“We are seeing the beginning of the recovery of tourism and going to Dubai fills us with feelings, with emotions. There we will be promoting Dominican Republic tourism,” Minister of Tourism David Collado was quoted as saying in local media outlet Listin Diario.

SEE ALSO: Company Formation in the Dominican Republic

The Expo was due to kick off in late-2020, but was pushed back by a year owing to the global pandemic. It is slated to be the first major international event of its scale to be held since the pandemic began in early 2020, and the first time any country in the Middle East, Africa and South Asia (MEASA) region has staged a world expo.

Dominican President Luis Abinader has said that Dominican Republic tourism will be showcased alongside other major investment opportunities, such as agriculture, logistics, and free trade zones. 

“It is the perfect setting to certify the union and brotherhood of humanity in a space for the global celebration of creativity, innovation, relaunching our economies, and the interaction between all the cultures of the world “, Abinader said in a press release. 

Tourism ripe for new investment

The news comes at a time when the government is seeking to promote Dominican Republic tourism, including the recent announcement of an ambitious plan to bring $1 billion of investment to further develop  the coastal locations of Puerto Plata, Miches, and Pedernales, with the construction of an international airport planned to serve the latter. 

It also comes as the Caribbean nation has seen the tourism sector begin to reactivate, witnessing an influx of tourists, with June seeing tourism numbers bouncing back to 80% of what they were prior to the pandemic, 

Meanwhile earlier this month the Amber Cove cruise terminal — a critical piece of infrastructure for the Dominican Republic tourism industry nearby to Puerto Plata — welcomed 2,500 visitors upon reopening for the first time since the pandemic began.

The importance of the Dominican Republic tourism industry to the economy cannot be overstated, with recent reports highlighting how every job in the hotel industry generates five more in other sectors, while 60% of the profits generated by the industry are reinvested into the Dominican economy.

A snapshot of the Dominican Republic market, where tourism offers lucrative investment opportunities
A snapshot of the market in the Dominican Republic

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