Local banking has been a pillar for the growth of tourism

During the last seven years, not to mention how long ago, the Dominican financial sector, mainly local banks, turned their confidence in the sustainable development of Dominican tourism.

This behavior today pays off and, not only the Banco Popular Dominicano (BPD), the leading entity of Dominican tourism, maintains the firmness of supporting the construction, remodeling of hotel infrastructures, restaurants in tourist areas, but also other complementary activities that a few years ago has been extended to Banco de Reservas and Banco BHDamong others in a more timid way begin to see the boost of the sector in the economy.

Tourism is today a 15% share of the Dominican Gross Domestic Product (GDP)is present in more than 80,000 hotel rooms, almost 900,000 direct and indirect jobs and every time new air routes arrive, and restaurants and businesses are installed collateral to the activity.

These investments, mostly foreign, are also occupying many Dominican projects. The portfolio of the banking entity with the sector went from US$1,204 million in 2022.

Banreservas is also supporting investments in new projects in Punta Cana, Cabo Rojo, Puerto Plata, Miches and Santo Domingo. Its tourism financing portfolio has also increased significantly.

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