Bank of America expresses its optimism with the growth of the Dominican economy

The Bank of America Corporation praised the growth of tourism in the Dominican Republic, indicating that it has recovered pre-pandemic levels, positioning itself as the star of the Dominican economy.

In its Dominican Republic Economic Watch report, Bank of America expresses its optimism with the growth of the Dominican economy, indicating that it has grown faster than expected despite the oil crisis.

The American multinational banking and financial services company headquartered in Charlotte, North Carolina and the second largest bank holding company in the United States by assets, indicates that tourism represents a third of the Gross Domestic Product of the Dominican Economy, observed in the first half of the year.

“They have already recovered to pre-pandemic levels. The Government expects 8.4 million non-resident tourists by 2022 (including flights and cruises) compared to 5.3 million in 2021. That is, 7 million on flights and 1.4 billion on cruises. By 2023, they expect the number of air and cruise tourists to rise to 7.7 million and 1.7 million, respectively."He says.

The Minister of Tourism, David Collado, develops a week of work in Charlotte, North Carolina, United States, with important companies in the tourism sector, working on alliances that impact our proposal as destinations.

The strategy implemented by the Dominican Republic has borne great fruit, placing the country as an international benchmark in tourism recovery and a public-private alliance to promote the sector.

In May, the Secretary General of the World Tourism Organization (UNWTO), Zurab Pololikashvili, delivered to the Dominican Republic, in the hands of President Luis Abinader and the Minister of Tourism, David Collado, a recognition for achieving "the most successful recovery in the industry"reaching "record numbers" in the arrival of tourists, while maintaining control over the covid-19 pandemic.

"The World Tourism Organization and its Secretary General, Zurab Pololikashvili, recognize the Dominican Republic, number one country in the world in the recovery of tourism"Says the acknowledgment.

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While in the month of July the Secretary General of the World Tourism Organization (WTO) congratulated the Dominican Republic for setting a record for visitors during the month of July 2022.

Through his Twitter account, Zurab Pololiskashvili said that with the milestone achieved by the Dominican Republic, it once again demonstrates its resilience.

“Congratulations to the Dominican Republic for showing that tourism can face great challenges and continue to grow. Its destinations welcomed a record number of visitor arrivals in July.

That means more income for development and opportunities!” said the official on the social network.

The Dominican Republic continues to make efforts to continue consolidating and promoting its internal and external tourism industry, which is why it has launched innovative projects such as a

At the beginning of this month, the Government launched the “Tourism in every corner” platform, a promotion initiative to boost local tourism with an approach based on sustainability and inclusion.

The launch was headed by the President of the Republic, Luis Abinader, and the Minister of Tourism, David Collado, after that institution carried out a survey of all the attractions, gastronomy, and experiences at the national level.

In this sense, they accounted for 184 protected areas, 93 routes and trails and 165 spas, whose images will be promoted by digital media and social networks so that both local and international tourists know “the hidden treasures” of the average island.

According to the Minister of Tourism, David Collado, during his recent visit to Samaná to start the work on the boardwalk, everything seems to indicate that a very active month of August is shaping up, since it could end with the visit of more than 600,000 foreigners.

He argued that this achievement is mainly due to the support of the private sector, businessmen, merchants, banks and the savings of some 7 billion pesos in promotion.

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