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Our Market > Introduction

Introduction

According to the preliminary numbers of the Dominican central Bank for 2011, estimated with the new method of calculation of the gross domestic product (base 1991), the economy of the Dominican Republic has showed a growth of 4.0% YTD, reflecting the slowdown that began during the first half of 2011. Since 2004 the Dominican economy showed a rate of growth, with an average of 7.1% yearly, which places the Dominican Republic as one of the countries with the highest economic growth in the Latin American region.

These results can be considered reasonable, acknowledging the hostile international environment prevailing since 2008, characterized by a series of complex economic phenomena, unpredictable and unprecedented, impacting our local economy, such as this past summer's European Union financial crisis, the high international prices of primary commodities and especially for our aviation sector; oil, the latter reaching its highest historical peak in 2007 and then erratically fluctuating until reaching over USD$ 100 a barrel again. These developments, among others, led to the strongest economies in the world to enter into a period of recession & of high unemployment.

However, as our market has the most competitive vacation value products in the world, fortunately our economy & tourism sector keep on growing sustainably.