South West Dominican Republic
- Country: Dominican Republic
- Location features: Beaches, Mountains, High Tourism Levels, Emerging Property Hotspot
Key Investor Benefits
- Tourism, over 3.1 million tourists every year come to the Dominican Republic and use the 50,000 hotel rooms available.
- Most tourists visit the many beaches in the country; however the largest growth area now is eco tourism and outdoor activity sector, focused on the country’s mountains and wildlife.
- The Dominican Republic has the strongest independent financial structure in the Caribbean and South America.
- Tourism is continuing to rise
- Government backed designated tourist areas & large scale investment going into the country to improve infrastructure
Why Invest
Exciting, emerging hotspot. The DR is an expanding, stable economy enjoying ever faster financial growth – 10% growth of the last few years is widely predicted to accelerate. Foreign direct investment is pouring in and international business players, from Donald Trump to the Ritz Carlton Group, have spotted its massive potential are racing to get a foothold. Property prices are still, for now, among the most affordable in the Caribbean – making this a unique opportunity for investors to get in to a vibrant economy just before it booms. Many analysts believe the DR to be the last great investment prospect in the region.
Solid capital growth potential. Capital growth in the Dominican Republic property market has been running at an impressive 20% per year in some areas, and the country is experiencing a real estate boom. Analysts feel this will continue and probably even increase as people are waking up to the opportunities of this Caribbean island.
- Throughout the world, many countries have noticed a decline in tourism. That decline has, however, missed the Dominican Republic {DR} DR has managed to attract tourists year after year, and with the Government encouraging massive investment from investors and new routes promised by airlines into this country, it would appear that this countries tourism will go from strength to strength.
- With so many markets struggling, the Dominican Republic has managed to see a 6.55% increase in tourism for the first part of 2008, thanks to the 2.2 million people that travelled there in the opening months of the year. People love travelling to this vastly unspoilt country, and will continue to despite tourism trends in other areas of the world.
- The world is noticing the strong tourism market in the Dominican Republic. Because of that, investors are getting in on the action. Indication that tourism in the DR was going to exceed even current expectations was when (FEVE) group decided they wanted in on the opportunity to invest.
- The State Rail System of Spain (FEVE) intends to invest 3.7 billion Euros over a four year time period in order to build up the tourism industry. Money, they want to work on a railway linking Santiago and Santo Domingo. The railway promises to help the tourism market by making travelling in the region easier.
- With such strong tourism records, along with the promise of more money going into the DR, airlines are making changes so they can bring even more tourists in. For the first time, JetBlue Airlines have plans to launch an internal-Caribbean service. This service is starting in the winter, and will have continuous, non stop flights between San Juan, Puerto Rico and the Dominican Republic.
- In addition, Delta Airlines is going to be adding more flights to the DR this winter. It is believed these added flights will bring more people to the area, thus boosting tourism even more. It will be easier than it has ever been for tourists to get on a plane and visit the area.
- The growth in tourism has greatly helped the economy in the Dominican Republic, and it is projected to make the economy even healthier in the years to come. Right now, there are 550,000 jobs that were created by tourism in the DR. That number is expected to rise to 743,000 by 2018.
The Rental Market in Dominican Republic
Tourism became a strong growth industry in the 1980s and is playing a major role in the country's development. The number of tourist arrivals is steadily increasing. The major development areas are in the north, in Puerto Plata, and along the eastern coast at Punta Cana and Bavaro, and in the south at Bayahibe. There are some 50,000 hotel beds, up from 34,000 in 1996. After an absence of some years, Caribbean cruise ships are again calling at ports in the Dominican Republic.
In 2002, more than 3 million tourists visited the country. Slightly more than half were European – mainly German, Italian, and Spanish –, while the rest came from Canada and the United States. More than 200,000 British tourists visit the Dominican Republic each year.
http://www.dominicanembassy.org.uk/tourism.html
South West Dominican Republic Area Information
In the South west of the Dominican Republic the outlook is even more, it is an area that has only recently been opened up by a raft of government projects to encourage international tourism and investment. The biggest factors in this were the building of the brand new international airport in Barahona which is 26km from Eden Caribe (see our properties in Dominican Republic) and the new highway between Santo Domingo and Bani. Currently demand for hotel rooms often outstrips supply in the Barahona region and with charter flights due at the new airport, the number of tourists visiting the area is set to further increase and Eden Caribe is set to cater for the demand for luxury accommodation. With the new Marina, four golf courses to be built, the new roads and charter flights, experts predict that prices in the area will soon catch up with that of the national average and that capital growth in the area will exceed that of the national averages.
- The Barahona area benefits from being a designated tourist development zone, thus receiving funding for local projects.
- As yet predominately un-developed, the area is being developed in-line with the government’s policy of maintaining the country’s natural beauty.
- A new International airport has now been completed to service this particular area of the Dominican Republic.
- The largest project in the area will have a combined total of 1000 rooms, based around a 27 hole golf course and a thermal hotel and spa.
- This particular area of the Dominican Republic is up and coming with regards to tourism and is known as the secret paradise of the country. With its lush vegetation and stunning mountains and valleys, the area is set to become the new Caribbean Riviera.
Dominican Republic Facts at a Glance
Geography
Location: Caribbean, eastern two-thirds of the island of Hispaniola, between the Caribbean Sea and the North Atlantic Ocean. Haiti occupies the western third.
The Dominican Republic is the second largest nation in the Caribbean. It shares the island of Hispaniola, situated between Puerto Rico and Cuba, with Haiti. The Dominican Republic occupies the eastern two-thirds of the island and Haiti occupies the western portion. To the north is the Atlantic Ocean and to the south is the Caribbean Sea.
The Dominican Republic is geographically diverse for its size, having extensive beaches of white sand, evergreen forests in the highlands, fertile valleys with exuberant vegetation, and even desert zones with dune formations. Its mineral resources include nickel, bauxite, gold and silver.
The country is crossed by four parallel mountain ranges running northwest to southeast, with fertile valleys in between. The largest is the Cordillera Central, extending from northwest of Santo Domingo into Haiti. Its peak, Pico Duarte, is 3,175 metres high. It is the highest point in the Caribbean and is often covered with frost during the winter. Along the north coast is the Cordillera Septentrional. South of the Cordillera Central are the Sierra de Neiba and the Sierra de Bahoruco ranges. Between the Sierra de Neiba and the Sierra de Bahoruco is Lake Enriquillo, the largest natural lake in the country, with the lowest elevation in the Caribbean islands. It is also the only salt water lake in the world inhabited by crocodiles.
The country is divided into 31 provinces and a district, in which the Capital Santo Domingo is located. Other important cities are Santiago, San Pedro de Macorís, La Romana, Puerto Plata, Barahona, La Vega, San Francisco de Macorís, and Higüey.
There are maritime ports in Barahona, La Romana, Manzanillo, Puerto Plata, San Pedro de Macorís, and Santo Domingo. The Caucedo Peninsula, near Santo Domingo, is now home to a new state-of-the-art container terminal facility. The country has seven international airports and three for domestic flights.
Source: http://www.dominicanembassy.org.uk/geography.html
Geographical co-ordinates: 19 00 N, 40 40 W. source fco.gov.uk
Geographical co-ordinates: 19 00 N, 40 40 W. source fco.gov.uk
Climate
Daily weather http://www.dominicanrepublicweather.net/
The Dominican Republic has a semitropical climate, with an average yearly temperature of 26°C (78°F). The rainy season is from May to November, with rainfall heaviest in the northern regions and lighter in the southwest. The hurricane season lasts from June until November, with August and September being the peak months.
People
- The population is 9.28 million people.
- Santo Domingo is the capital with a population of over 4 million people.
Getting There
Flight times to Dominican Republic
London 8 hrs 40min
Madrid 8 hrs 25min
L.A. 6 hrs 40min
New York 3 hrs 40min
Miami 2 hrs 30min
Panama 2 hrs 40min
Caracas 1 hr 40min
Economy
- GDP $85.4 Billion (2007).
- Growth rate of 8% (2007).
- GDP per Capita $9,200.
- Agriculture (6.5% of GDP) is in the form of Sugarcane, Coffee, Cocoa, Bananas, Tobacco, Rice, Plantains and Beef.
- Industry (27.4% of GDP) is in the form of Sugar refining, Pharmaceuticals, Cement, Light Manufacturing and Construction.
- Tourism and Transportation is 58.6% of GDP.
- Free Trade Zone (70% of total exports).
- Agriculture accounts for 30% of land usage with 17% of working population employed in farming.
- Industry is covered by over 500 companies situated in 50 Industrial tax free zones.
The Dominican Republic, the biggest economy in the Caribbean and Central America is a lower middle-income developing country, primarily dependent on agriculture, trade, and services, especially tourism. Although the service sector has recently overtaken agriculture as the leading employer of Dominicans (due principally to growth in tourism and Free Trade Zones), agriculture remains the most important sector in terms of domestic consumption and is in second place (behind mining) in terms of export earnings. Tourism accounts for more than $1 billion in annual earnings.
Free Trade Zone earnings and tourism are the fastest
According to a 1999 International Monetary Fund report, remittances from Dominican Americans are estimated to be about $1.5 billion per year. Most of these funds are used to cover basic household needs such as shelter, food, clothing, health care and education. Secondarily, remittances have financed small businesses and other productive activities.
The Dominican Republic's most important trading partner is the United States (75% of export revenues). Other markets include Canada, Western Europe, and Japan. The country exports free products (garments, medical devices, etc.), nickel, sugar, coffee, cacao, and tobacco. It imports petroleum, industrial raw materials, capital goods, and foodstuffs. On September 5, 2005, the Dominican Congress ratified a free trade agreement with the U.S. and five Central American countries, known as CAFTA-DR. The CAFTA-DR agreement entered into force for the Dominican Republic on March 1, 2007. The total stock of U.S. foreign direct investment (FDI) in Dominican Republic as of 2006 was U.S. $3.3 billion, much of it directed to the energy and tourism sectors, to free trade zones, and to the telecommunications sector. Remittances were close to $2.7 billion in 2006. Fastest-growing export sectors. Free-trade-zone manufactured
Visa Info
Nationals of the following countries do not need either a Tourist Card or a Tourist Visa to enter the Dominican Republic: Argentina, Chile, Ecuador, Israel, Japan, Peru, South Korea and Uruguay.
If you are a resident of the United Kingdom or if you currently hold a valid visa to enter the United States, Canada or any European Union country, you DO NOT require a Tourist Visa to enter the Dominican Republic, only a Tourist Card. Upon purchase of your Tourist Card at the Consular Section (see details below) you will be given a letter certifying that you meet the conditions to travel with a Tourist Card.
Nationals of all other countries not listed in the Tourist Card section and not in possession of a valid visa for the United States, Canada or any European country, must obtain a Tourist Visa. Please contact the Consular Section at info@dominicanembassy.org.uk for information on how to apply. Or your Dominican Republic embassy in the country you are located.
Source: http://www.dominicanembassy.org.uk/Touristvisa.html