According to the balances made by the Ministry of Tourism on the participation of the Dominican Republic in the last two editions of the International Fair of Tourism (Fitur) of Madrid, in this of 2023, the country exceeded the committed investments.
During a press conference held last Friday at the exclusive and luxurious Real Casino in Madrid, the Minister of Tourism David Collado announced to the press that the nation achieved investment commitments for 3.645 million dollars.
The figure exceeds that of last year, estimated at about 2,000 million dollars.
fitur 2023 was held from January 18 to 22 in Madrid, Spain. This fair is considered the most important event of its kind in the world today, this being its 43rd edition.
131 countries participated, among which the Dominican Republic sought to stand out with a stand that evoked the culture and its emblematic tourist places, mixed with image technology through a set of immersive screens.
Quisqueya received more than 8 million visitors in 2022, by air and cruise ships, according to official figures, achieving an important post-pandemic recovery for its economy.
The Dominican Government seeks to participate in each Fitur, interested in attracting investments and agreements with agencies, airlines and tour operators, to support the tourism industry that, according to official figures, contributes 15% of the country’s gross domestic product (GDP).
Only in this year’s edition, the Ministry of Tourism He said that eleven agreements were reached.
The country was a co-sponsor in this edition and in the last partner country.
After the closing of the Fitur in 2022, Collado said in an interview with Diario Libre that the state Reserve Bank of the Dominican Republic (Banreservas) closed purchase intentions for 1.3 billion dollars.
The state bank also presented the Punta Bergantín project, a development in Puerto Plata, which will include a movie studio, by Vin Diesel.
And Banreservas reported that it reached investments and possible investments that exceed 4,000 million dollars and financing requests above 2,300 million dollars.
Due to the above, Samuel Pereyra, general administrator of the state bank, assured that this was “the best year” for Banreservas in a Fitur.
“And, to the president (of the Republic) and to me, they guaranteed investments for 1,600 million dollars,” said Collado.
In this 2023, the total investments announced by Collado is 3.645 million dollars.
Of that amount, he said that 1,645 million dollars will begin to be executed in 2023.
popular Bank
The Banco Popular Dominicano reported that it managed to consolidate loans for projects already under development and potential loans for a financing amount of more than 1,230 million dollars.
Officials from the financial institution estimated that this would mean 8,720 new hotel rooms.
He specified that the total investment for these tourist developments is estimated at more than 2,400 million dollars.
David Collado summarized the investments committed in Fitur 2023 to the press as follows:
• Installation of the Sports Illustrated Resorts in Cap Cana, with an investment of 50 million dollars (already open).
• The Pioneer Fund announced investments for 2,000 million dollars in Macao.
Also, it will start immediately with 250 million dollars, and for the first time the Dominican Republic will have an all-inclusive Ritz-Carlton hotel.
• The Spanish Martinón family announced investments of 90 million dollars for a Hyatt hotel on Winston Churchill avenue and Paseo de los Locutores corner, in the National District.
In addition, 50 million dollars in the remodeling of one of its hotels in Punta Cana-Bávaro.
• Frank Elías Rainieri announced the investment of 200 million dollars with the Zemí hotel, in Miches, for which he signed a loan contract with Banreservas.
• Rafael Blanco Canto announced the investment of 150 million dollars in Miches with a new hotel from the Viva Wyndham Resorts chain.
• Grupo Fuertes, from Spain, presented its project and signed a loan for 325 million dollars.
He announced investments with the Hyatt hotel, with some 1,000 rooms, in Miches.
• The Rainieri family announced that the Dominican Republic will have, for the first time, an all-inclusive W hotel, a luxury brand that will imply a higher level of visitor spending. The investment will be 135 million dollars.
• The Cisneros family (Venezuelan) announced that the Four Seasons hotel will become a reality in Miches, with an investment of 200 million dollars.
• BH Caribe will invest 250 million dollars and will also start with a further 200 million dollars in May. It will be 450 million dollars in total.
• Bahía Príncipe, from Grupo Piñero (Spanish), made announcements for 100 million dollars, half of which will be invested in 2023 and the rest in 2024.
Fitur 2023 was held at Ifema-Madrid.
Its organizers estimated 8,500 participants, 131 countries, 750 main exhibitors and 66,900 square meters of exhibition space, which will mean revenue for Madrid of more than 400 million euros.
