In 2024, the deficit would increase 0.3% pps mainly driven by the cyclical dynamic of expenditure on election year.
Insight
12 June 2024
Industrial and Logistics Market Report - Dominican Republic
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The Dominican Republic, is the most populated country in the Caribbean region, with approximately 11.4 million people. Over the last two decades, the nation stood out as on of the most stable and fastest-growing economies in Latin America, averaging a 5.2% YoY GDP expansion.
The post-pandemic tourism boom partly explains the Dominican Republic’s resilience in a region where growth is decelerating. In 2023, tourist arrivals exceeded 10 million people, 19% above the 2019 figure. Its direct impact on the economy is estimated at 10 billion dollars, and total spillovers exceed 30 billion dollars, equivalent to nearly 26% of the country’s GDP.