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Dominican Republic Starts to Recover

This article, written by Joachim Bamrud, appeared in Latin Business Chronicle on August 11, 2009.  


The Dominican Republic is starting to see signs of recovery, leading to more optimism among local and foreign investors…


Osvaldo Oller, a director of the Oller Group, sees real estate in tourism areas like Punta Cana, Puerto Plata and Samana picking up after months of low or no demand. ”There’s a noticeable improvement,” he says. The Oller Group is involved in real estate, construction and tourism. 


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Another article, also featured on Latin Business Chronicle, states that the Dominican Republic has largely been spared by the international economic crisis, seeing only a slight decline in tourism for the first half of the year.  


The article points out “The Dominican Republic last year received a total of 3.8 million international visitors, which was virtually the same as in 2007.  However, tourism receipts grew by 2.8 percent to $4.2 billion, according to the World Tourism Organization (WTO).


The Dominican Republic is also the largest tourism destination in the Caribbean and the fourth-largest in Latin America after giants like Mexico, Brazil and Argentina. When measuring arrivals compared to total population, the Dominican Republic ranks third in Latin America.”


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One Comment

  1. Bob Hazard says:

    This is all good news and not surprising. Now if we can get the “nay-sayer” news media to start publishing this kind positive news broadly, maybe the public will begin to see what is really happening out there.

    I represent real estate developers in the Dominican Republic, The Bahamas, Belize and in Nicaragua and am seeing improved activity on all fronts. I also work with a developer in Jackson Hole, WY (USA) and the activity (sales) is beginning to see improvement as well. Especially on the $1 million and up properties!

    Keep up the good work in the DR!

    Bob (SkipJack)

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