Supported largely by the arrival of 5,286,325 tourists by air
According to preliminary results from the Central Bank
Related topics: Central Bank, IMAE
August 28, 2024
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The Central Bank of the Dominican Republic (BCRD) reported preliminary results of economic activity through July 2024.
The monthly indicator of economic activity (IMAE) registered an expansion of 4.8% during the month of July of this year, accumulating an average year-on-year growth of 5.0% in the first seven months of 2024.
In this regard, hotels, bars and restaurants showed an increase of 8.0% in the indicated period, largely supported by the arrival of 5,286,325 tourists by air during the first seven months of the year.
It should be noted that in July 2023, Hotel, bar and restaurant activity experienced a year-on-year expansion of 9.3%, so the 3.8% growth in July 2024 compared to the same month last year is partly due to the statistical effect of the comparison base.
However, July 2024 was the highest in absolute terms for the same month in the entire historical series, with an arrival of 811,192 non-resident air passengers and the year is projected to close with a total of 8.6 million tourists entering through the country’s different airports.
It is recalled that this behavior has taken place in an environment of price stability as a result of the monetary and fiscal policies implemented, which has allowed the timely overcoming of risk factors for the performance of the Dominican economy.
