Thursday, June 1, 2023

Contribution of tourism to GDP will reach pre-pandemic levels in the DR, says WTTC

He World Travel and Tourism Council (WTTC) pointed out that by the end of 2023 the contribution of the sector to the gross domestic product (GDP) of the Dominican Republic will reach levels pre-pandemicsince it will contribute more than $17.7 billion to the national economy, that is, almost 10% above what was registered in 2019.

Likewise, by the end of 2023 it is projected that the national tourism sector will reach the 850,900 jobs, and with this, the 2019 figure would be exceeded by 6.3%. In this way, jobs in the sector will represent more than 17% of all jobs nationwide.

According to the WTTC, it is estimated that by the end of the year, the tourism sector of the Dominican Republic will represent 15.3% of its total economy.

A look back at 2022

In 2022, the GDP contribution of the travel and tourism sector of Dominican Republic it grew 26% compared to the previous year, to add more than US$16.7 billion, which represented 15% of the Dominican economy, exceeding the figures reported in 2019 by 3.8%, says the WTTC.

Last year, he says, the sector generated 802,600 jobsthat is, 16.8% of the total jobs in the country, 0.3% above the levels of 2019.

During the past year, the arrival of international travelers increased and generated a spillover of $9 billiona growth of 34% compared to the previous year, and exceeding by 1.2% what was registered in 2019.

For their part, domestic travelers, reports the WTTC, represented $3.2 billions, almost 15% above the figures for 2021.

Julia SimpsonPresident of the WTTC, said: “The Dominican Republic’s travel and tourism sector is rebounding, demonstrating a strong preference from travelers from around the world to visit and explore all that the country has to offer.”

“In the next 10 years, the sector will generate 47.8 thousand new jobs in the Dominican Republic, representing one of every six jobs in the country.”

The Caribbean travel and tourism sector will contribute 11.5% of its GDP


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