Economy -

An important aspect for the decision to move to a new country is its current economic situation, but above all the forecast development. To give you an informative overview, we have put together a few valid facts, each linked to the sources.

Tourism

Tourism remains the mainstay of the Dominican economy. From 2009 to 2019, the number of visitors has increased continuously from 4.49 million to 7.55 million. ¹

Like almost every holiday destination, the Republic suffered from the pandemic. However, the level of 2013 was already reached again in 2021 with 5.3 million visitors, but after only two more years, they nearly doubled it in 2023 ² to impressive 10 Mio. visitors. This is a new alltime record.

GDP

Within the last 10 years, the GDP has nearly doubled from 2013 (US$ 62.76 billion) to 2023 to US$ 120,63 billion ³. The GDP per capita (adjusted for purchasing power) was 18.620 US $ (as of 2020), whereby the country is ranked 74th ⁴ out of 194, ahead of China, Thailand, Bosnia and Brazil. In 2022 the GDP raised up to 19.338 US $.⁵

The forecasts indicate exponential growth, because of the touristic developement and the “Manzanillo Port” project. More on this in the following paragraph.

Project "Manzanillo Port"

An important role in economic development will play the current expansion of the port “Manzanillo Port”, one of the most important transhipment ports in the Caribbean. ⁶. The handling volume is expected to increase by a factor of 9 in the period up to 2045. Based on the number of exposed demand segments, a total potential for port traffic of up to 13.0 million tons and 1.5 million TEU is estimated for the year 2045.

In essence, it is about the expansion as a container hub port and as a logistical and productive node. The development of new free trade zones nearby (RD, Haiti), logistics parks, as well as the development of other related activities (shipyards,…) has a massive impact on economic development and thus also on investment opportunities in the country.

Europe

The current development in Europe is very complex, but tends to be negative. Even before the pandemic, GDP growth rates were steadily declining ⁷. Currently (02.2024) the development of the inflation clams down a bit after a dramatic increase, but is still 1.2 points above the median of the last 15 years. It is still far away from a solid and stable base. An intelligent investment in the Dominican Republic can therefore stabilize the value of your finances or double it from the time of purchase. On the one hand pushed by the development of the economy in the DomRep itself, on the other hand by the fact that you evade the insecure development of the euro zone.
However, the positive development of the economy in the Dominican Republic also means that prices there continue to rise. In this respect, the current point in time is ideal for taking the exponential trend with you. The faster you decide, the better the return on your investment.
Do you have any questions? Do not hesitate to contact us.

Currency

The currency of this country is the Dominican Peso. However, the US dollar is an tolerated currency. And this is exactly where a big advantage lies, especially for people who come from the euro area.

The current development of the euro does not indicate a positive trend for the coming years. As a result, the euro is becoming increasingly weaker against the dollar. If you can conduct your business on a dollar basis in the future, or make investments in the dollar area or in the Dominican Republic yourself, you can avoid the negative development of the euro in this way. This applies in particular to real estate as an investment, but also for personal use. More informations further below.

Tourism

GDP

Project "Manzanillo Port"

Europe

Currency

Footnotes