Dominican Travel Industry Grew 5 Percent in 2004

The tourist sector of the Dominican Republic generated $3.4 billion worth of revenues last year, up 5 percent from 2003. In all, the Caribbean destination scooped up 3.5 million visitors, according to the country’s Tourism Minister, Felix Jimenez.

With a whopping 24 percent contribution to the nation’s GDP, the leisure industry represents the number-one income source for the Dominican Republic, followed by money remittances sent by nationals from overseas and the business volume churned out by the local free trade zones.

During a recent trip to Punta Cana for the grand opening of several tourist facilities, President Leonel Fernandez praised the cash flow chipped in by foreign investors and developers, a situation that has made the Dominican Republic a major recipient of capital expansion.