News
- Liverpool Football Club Announcement
- Sunday Independent Article
- Pat Cash Tennis Academy
- Trader Vic's Restaurants
- Puerto Plata Emerges as the New Coast of Eco-Style and Activity
- Growth in Dominican Republic
- Caribbean attractive to Indian Investors
- Property Price quotes and information
- St. Vincent and The Grenadines: Tourism and Economy Statistics and Government Incentives
- St. Lucia: Tourism and Economy Statistics and Government Incentives
- Barbados: Tourism and Economy Statistics and Government Incentives
- World and Whole Caribbean Tourism Statistics
- Dominican Republic: Tourism and Economy Statistics and Government Incentives
In 2006 the breakdown of international visitors to the Dominican Republic breaks down as so:
USA 1,092,317 (27.5%)
Other Europe 812,511 (20.5%)
Canada 509,323 (12.8%)
UK 242,559 (6.1%)
Germany 226,737 (5.7%)
Italy 144,115 (3.6%)
Other 937,493 (23.6%)
The number of UK visitors to the Dominican Republic in 2006 was 242, 559, 6.1% of the total number of visitors to the island (3,965,055). The total number of arrivals has increased by 43% since 2002 at an average rate of 9.62% per year during this period. The Dominican Republic had the largest number of visitors of any Caribbean Island, that made up 2.9% of the all visitors to the Americas region.In 2006 the total expenditure by visitors was $3180.4 Million.
(Figures from Caribbean tourism organisation, “Dominican Republic 2006”)
The Dominican Republic had the 2nd largest increase in visitors throughout the whole Caribbean in 2007: 7%
(World Tourism Organisation, “Tourism highlights 2007”)
In 2007 Foreign Direct Investment (FDI) increased in the Dominican Republic by 16.3% to US$723.3 million. FDI for Real Estate increased by 120% and in tourism by 58.1%.
(Caribbean update, May 2008)
Tourism Development Law:
This is a good example of Dominican incentives to increase pace and process of development in the tourist industry.
Qualifiers for the incentives include: Hotel facilities, resorts and/or hotel complexes; Construction and/or operation of tourist infrastructures, such as aquariums, restaurants, golf courses, sports facilities, and any other that may qualify as a tourist activity.
The Incentives for Businesses domiciled in the country include one hundred percent (100%) exemption from paying the taxes listed below:
1. Income tax
2. National and municipal taxes levied on the use and issuance of construction permits, including land purchase documents.
3. Import duties and other taxes, such as tariffs, fees, late charges, including the Tax on Transfer of Industrial Goods and Services (ITBIS) that are applicable to the equipments, materials and furnishings needed for initially equipping and putting into operation the tourist resort concerned.
(Guzman Ariza Law Attorneys)
- Investment Banks - Strong Interest in the Caribbean
- Record breaking attendance, $100 billion in investment highlight Caribbean hotel &
