The consumption of the Dominican tourism sector will reach up to 53 million pesos per hour during 2017 (USD 1.1 million). The industry represents an important sector for the economy.
By the end of 2017, the local tourism industry is projected to bring in more than USD 7 billion in foreign exchange earnings, an increase of more than USD 300 million compared to 2016, that year the same sector contributed around USD 6.7 billion.
In his opening speech, Joel Santos, president of the Association of Hotels and Tourism of the Dominican Republic, specified that in 2016 tourism accounted for USD 40 of every USD 100 generated by Dominican exports.
The annual report of the World Travel and Tourism Council reported that last year tourism was responsible for 17.3% of the Gross Domestic product, that is more than 12 billion dollars.
For this year it is estimated a growth of 4.8%, it is expected to "exceed 13 billion dollars," the executive said.
Referring to projections from the World Travel and Tourism Council, Santos announced that this year the tourist consumption will reach 467 billion pesos.
That amount includes all purchases related to that industry, food, drinks and entertainment, among others.
Looking at 2027, the internal consumption of the tourism sector is projected to reach 958 billion pesos.