Golf Tourism Boosts Travel to the Dominican Republic
With thousands of miles of Caribbean beaches, stunning mountains and 80,000 square kilometers of lush, tropical islands to explore, the Dominican Republic is a top tourist destination. The country has become increasingly popular with property investors following significant growth in the market in recent years.
Investors are drawn not only to the beaches but to the wide range of attractions including world class championship golf courses, hotels, spas and marinas. The country also offers political and economic stability enjoying 4.1 percent growth in 2013 with 4.5 percent forecast for 2014.
However, there is a growing niche market in the Dominican Republic rising from the ranks of overseas golfers seeking properties close to one of the country's luxurious world-class courses.
Ranked number 8 in the world's top ten golf courses is the Punta Espada, a Jack Nicklaus Signature Course right on the ocean, close to the upmarket Sanctuary Capcana resort. The positive benefits of the course both to the resort's business and the local economy have been such that another Jack Nicklaus course is being constructed in the area.
In 2013, golf tourism generated nearly €160m in the Dominican Republic and it is anticipated this figure will increase to €240m by 2016, according to the country's golf commissioner Nicolás Vargas.
The Dominican Republic has 18 professional golf courses and more than 350 holes, 57 of them with sea views, something that no other destination for this sport can boast.
The Dominican territory is perfect to deliver top-class golfing facilities to an international market through its developed infrastructure, air and land connections, hotel facilities, golf courses and above all, a good climate for holding events all year round.
In 2013, 103,000 visitors came exclusively for golfing holidays and it is estimated this figure will increase to 125,000 by the end of 2014.
Property either in or on the periphery of a golf course in Dominican Republic can expect to command a premium. Continued investment in construction of residential property is planned into 2016, providing opportunities for foreign investors to capitalize on the country's popularity among the golfing fraternity.
Source: Dominican Today
