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Billions in vacation property sales
The Ministry of Tourism (Sectur) estimates that vacation property sales reached US$800 million this year, more than double reported for the five-year period of 2002-2007, when these totaled US$351.2 million. By 2012, according to its estimates, US$7.1 billion will have been invested by foreigners buying second homes in the Dominican Republic.
Sectur statistics indicate that the Punta Cana area has received the most investment, with US$430 million this year, primarily concentrated in Cap Cana, Puntacana and Roco Ki (Macao) developments. Reportedly, over the past four years, investors have purchased US$2.5 billion in real estate in the area.
Samana/Las Terrenas (US$129 million) and Maria Trinidad Sanchez/Cabrera/Playa Grande (US$84 million) provinces have also received hefty real estate investments from foreigners.
Incentives in Law 158-01 have contributed to attract investors, as well as improvements in the infrastructure of several tourist areas.
Tourism growth in 2008 for Dominican RepublicBetween January and August 2,567,050 tourists visited the Dominican Republic, according to its Ministry of Tourism. This is a 4.5% increase compared to the same period in 2007, when 2,455,932 tourists visited. Over half the tourists came through Punta Cana International Airport (54.7%), while the remaining tourists came through Las Americas International Airport (19.3%), Puerto Plata (15.8%) and La Romana (5.5%). A small number of tourists arrived by Santiago's central Cibao airport, or Isabela airport in Santo Domingo and El Catey airport in Samaná.
The Ministry of Tourism reports that the Russian tourist market grew considerably in 2008 with an 83% increase in Russian tourists compared to last year, Ukrainian tourism is up 11% and Polish tourism is up 92.5%. From Latin America, there were also increases. There were increases from Brazil (up 32.5%), Ecuador (up 37.9%), Mexico (up 15.5%), Chile (up 44.8%), Argentina (up 38.1%) and Colombia (30.1%) as air links improved.
US arrivals only increased 2.9%, but there were 11.9% more visitors from Canada. From France there was a 4.2% increase and from Switzerland a 12.5% increase.
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