For decades, the Dominican Republic It has one economy that grows dynamically, which has placed the gross domestic product (GDP) per capita in $ 10,900 at the close of 2024.
This indicator – ampliously used to estimate how much each person contributes to the economy– neglects, however, price differences within the market and the amount of hours worked To generate that money.
A analysis From British magazine The Economist carried out in 178 countries put this in perspective.
According to this medium, if the GDP per capita to the goods price and market services – known as Purchasing power parity (PPA) -, this amount increases to $ 27,500 during the 2024which shows that, within the economy Dominicanmoney yields more than in other countries in the region.
However, to Labor Force Dominican It costs much more hours worked to achieve those living standards so, when the GDP per capita in prices to the amount of hours workeda gap of $ 4,400 is generated, which places this indicator at $ 23,100.
In other words, to be able to have a greater purchasing powerthe Dominicans dedicate more hours to their work, which leaves them with very little time for leisure and, therefore, for the consumption.
Factors to consider
“Being rich is not just about winning more. Prices differ between countries, and a modest salary can perform more where things are cheaper. Work hours also vary: some places manage to generate high income with less hours of work,” he emphasizes The Economist When presenting your analysis.
His comparison made a ranking which includes countries from several regions of the world, in which Swiss ($ 100,000), Singapore (90,700 dollars) and Norway ($ 86,800) are the three countries that lead the list.
