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Santo Domingo, DR. – The Hotel and Tourism Association of the Dominican Republic, Asonahores, stated that attracting foreign and local investment, combined with legal security, economic stability and a cost structure allows an economic return that benefits and develops the country.
Asonahores offered these statements at the seventh edition of the Tourism Investment Forum where they highlighted that Foreign Direct investment per tourist in the last decade has been US$2,785, which confirms the tourism sector as an important pillar for the development of the country.
David Llibre, president of Asonahores, expressed that the Dominican Republic has a regulatory framework that encourages investment, offering legal security highly valued by investors and that has been key in the development of strategies to promote growth and innovation in the tourism.
“Thanks to Law 158-01 (CONFOTUR) and its amendments, especially the 2013 amendment, foreign direct investment (FDI) in the tourism sector has experienced significant growth, as a result, accumulated foreign direct investment from 2013 to 2023 was US$8,732 million, presenting a growth of 361% and only for the year 2023, FDI was US$1,182 million,” Llibre highlighted.
Aguie Lendor, executive vice president of Asonahores, highlighted that it is important to define the growth to be achieved, plan diversification by destination and drive investment to reach the goal of 15 million tourists.
“We must analyze a National Tourism Plan that addresses the strategic axes of the key factors of the Tourism Competitiveness of the Dominican Republic and that gives us a great advantage over other destinations that are in the ring competing for the investment that we want to attract to the country,” Lendor said.
This edition of the Asonahores Tourism Investment Forum is part of the institution's commitment to promote efforts that maintain the pillars that have promoted tourism development.
The event featured the keynote presentation “New regional realities in Tourism” by Jacqueline Mora, technical vice minister of the Ministry of Tourism, who offered a vision that reflects the transformations driven by global trends, technological advances and changes in travelers' preferences to adapt and maintain competitiveness in the region.
They explained that during 2024 the tourism sector has benefited from large investments, and Asonahores recognized three of them that are around 400 million dollars El Dorado Water Park, Hyatt Vivid Palm Beach and Wyndham Altra. Likewise, Abel Matute Juan, chairman of Palladium Hotel Group, was honored as 2024 Dominican Tourism Champion. for his extensive career and contributions to the development of the tourism industry in the Dominican Republic.
Likewise, the panel “Dominican Republic as an investment destination: key factors and competitiveness” was held by Abel Matute Prats, president of Palladium Hotel Group; Rafael Feliz German president of the Board of Directors of Karisma Hotels & Resorts. It was moderated by Javier Tejada, General Director of United Capital.
This panel put into context how the Dominican Republic has established itself as an attractive destination for foreign investment due to its strategic location, macroeconomic stability and favorable policies for investors. Considered key factors to strengthen the positioning and competitiveness of the destination in the region.
The Asonahores Tourism Investment Forum 2024 had the support of CODELPA, Santo Domingo Hotel Association, Therrestra, Banco Popular Dominicano, Bronze Sponsor, Corporación Aeroportuaria del Este- Grupo Punta Cana, National Alamo, MITUR, Altron Trading Group, Ofar Oficina of Lawyers, Dominican Association of Pension Fund Administration, The Ambassador to Royal Hideaway Hotel, Stock Exchange of the Republic Dominicana, Inversiones Cadmus (Altio and Dreams Dominicus), AFP Popular Sponsor, Karisma Hotels, Rios Legal, Alburqueque and Mejia Lora & Asociados.
Also Colchoneria y Muebleria La Nacional, Castillo & Castillo, Universal de Seguros, Max Corredores de Seguros, Banco BHD, Dominican Fiesta Hotel & Casino, Strategy Partners, Banco Lopez de Haro, Leasing Automtriz del Sur, Nader Enterprises (Maralba), Grupo Martino , Permisology , Andri, Melia Hotels International, Banreservas , Hyatt All Inclusive Collection, CHJ Legal, Cinco C, CEPM, Michel Abreu , Advaced Asset Magagement, Pioner Investment Funds, Grabo Estilo and Excel Stock Market.