Tourism's figures leave a lot to be desired.
Santo Domingo. - Although the Dominican economy had grown 2.1% by September and the Central Bank’s yearend forecast is of 3%, the reality is that tourism, exports and free zones, remittances and direct foreign investment, which generate the most currency and create the most jobs, have practically collapsed this year, according to official statistics.
Though tourism sector representatives say it generates around 200,000 direct jobs and a higher amount indirectly, this year hasn’t been good for the country’s top currency generator.
The global financial crisis led to fewer foreigners vacationing here and tourism’s currency generation fell -5.8%, from US$3.33 billion in the January-September period in 2008 to US$US$3.14 billion in the same period this year.
As to its overall growth the Central Bank said hotels, bars and restaurants posted a loss of -6.7%.
Free Zones
The sector is among the most impacted by the global economy, as statistics reveal that in the first three quarters textile exports fell -18.8%, but the non-textile free zones sector also fell -14.4%. Its currency generation, which in the same 2008 period reached US$3.29 billion, is now at US$2.78 billion, or a fall of -15.6%.
National exports
The sector also posted negative figures this year: As of September national exports fell -34.2%, which shows the loss in local production and its potential to generate currency through sales abroad.
From January to September, 2008 the non free zone local exporter generated US$2.0 billion currencies, but sold only US$1.32 billion in the same period this year.
Written by: josean, 7 Dec 2009 9:05 AM
From: United States
That's a BIG BUT!
Written by: juanb, 7 Dec 2009 9:08 AM
From: Dominican Republic
The economy is NOT OK. There are no jobs. The government is lieing about the number of unemployed. They are creating diversions to change the focus of the country away from their failed, corrupt administration.
Written by: josean, 7 Dec 2009 9:14 AM
From: United States
The economy is performing just as good as the METRO!
From: Dominican Republic, No Spin Zone
dread these numbers of tourism contradict your Magic 8 Ball forecasts
Written by: pelaut, 7 Dec 2009 10:02 AM
From: United States
The "economy" is growing by 2-3%, but receipts for the sectors which account for 96% of it are falling by 6-15%???????
What's the huge gain making up for it? Drugs? Congressiional BJs?
From: United States
So let me get this straight all sources of income are doing poorly and worse than last year but our overall economy is doing better? Makes a lot of sense. pelaut I am afraid you are correct if the figures are in fact correct. Drug money and loans are the only thing that could make up the difference. On the streets our family business has more people on credit than as long as I can remember. So the local working class is seeing less money than last year. Of course there are a few exceptions like the local drug dealers who have plenty of money but those are not the normal customers we like to see.
Written by: abc200, 7 Dec 2009 11:40 AM
From: United Kingdom, Dominican Republic
When external income reduces the internal economy increases - money changes hands more frequently as less is saved. Also people and businesses stock up with essential goods, beans for example produced locally and the price rises resulting in an increase the economy.
S.
Written by: Escott, 7 Dec 2009 12:46 PM
From: Dominican Republic, Cabrera and Sosua a 2 days a month for payday
Waiting to hear what made up for these loses in the important sectors and surprisingly Remittenses were not mentioned which also are down considerably.
Written by: abc200, 7 Dec 2009 1:14 PM
From: United Kingdom, Dominican Republic
Must be the internal economy money must be flowing faster.
Peopl having their hair cut more often, buying new smarter dresses more often for the office and disco - that sort of thing. Also more public works and government employees contributing to the economy.
S.
From: United States
first of all , Blutarsky, if you read the article with any amount of deliberation, you will see that posters like VeronicaDr and Escott are astute enough to see the issues which escape you. firstly, the article makes no sense whatsoever. i fail to see how it says that tourism has virtually collapsed, yet say it has seen a falloff of 6.7% that is not a "collapse" that figure is a lie, as any intelligent person can decipher. besides, every component of the economy has been severely wounded, compared to last year, yet they say that the economy is growing. i would like them to point out the component that has grown sufficiently to offset the failure in the others. you see, Blutarsky, i would rather ponder such weighty issues than squander my time on asinine ad hominems. i leave that to people like you.
Written by: juanb, 7 Dec 2009 3:15 PM
From: Dominican Republic
Please address Blutarsky by his rightful name.......Goulet Colonial.
Written by: josean, 7 Dec 2009 3:25 PM
From: United States
juanb,
His real name can't be used in polite company or at leat in public!
Written by: BASTA, 7 Dec 2009 4:46 PM
From: Dominican Republic, =Ghetto/Legalize Drugs
The discos are dead the malecon is dead boca sida is dead spm is dead and juan dolio are dead dead and dead every thing is dead dead; but funds from the IMF will tide us over for a while until all the money is used up buying chickens for members of the Partidos Ladrones Dominicanos. But like Hippo said 85% of Dominicanos are crooks. But being dominican i know better. 98% of us are crooks.
From: Dominican Republic, vieja Santo Domingo
This is just a crazy article and would be good to see the original source to see what has been altered in the editing and the translation
Written by: josean, 8 Dec 2009 9:52 PM
From: United States
The all seem crazy when they don't support our fancy or in some cases fantasy!
From: United States
BASTA, only Blutarsky believes things are running along swimmingly. everybody else sees what is going on. he believes that because he says that it is good, that makes it so. i can count on two hands the numbers of tourists i see daily in some areas of the north coast. but Blu says that the numbers are off only 10%. if they were, it would not be visibly noticeable, Blutarsky. at least, not to us mere mortals.
From: Dominican Republic, No Spin Zone
dread you poor putz Tourism as of the first two weeks of December on any island in the Caribbean in any year is always in a valley you putz Go to the Airport on Dec 20 even in POP let alone the thriving areas and you will see what is the beginning of what is referred to as season and rates are higher and then high season rates will be even higher .....rates will still be very reasonable in the upholstered sewers of POP......Sorry dread no gloom and doom this year
From: Dominican Republic, No Spin Zone
if the commies ever took over .....I can see you sucking up to them right know .....you and josean looking for jobs as policemen ....you guys would be good at it
Written by: abc200, 11 Dec 2009 10:19 AM
From: United Kingdom, Dominican Republic
Everything points ot a boom Xmas season. Blut will have to fix his broken down TV's.
S.
From: United States
well, Blutarsky, i speak with people in tourism related fields on a daily basis. people who are tour guides. people who sell tours. people who own gift shops, people who work in hotels. without exception , they all say that they have never seen anything like this. by this time of year, in previous years, the hotels and stores were doing far more business than they are today. and, we all know why. at least those with access to media releases. to doctrinaire types such as Blutarsky, if you do not agree, then you are a putz. Puerto Plata is bristling with putzes, as nobody in that part of the world, or Sosua, or Cabarete, agrees with him. as to the hallucinatory ABC, who, opines that everything points to a bumper high season, i ask "everything like what"? do you know something about the world economic recovery that is a secret to the rest of us mere mortals?
Written by: abc200, 11 Dec 2009 3:50 PM
From: United Kingdom, Dominican Republic
The residence I stay in is full up and people stop me looking for somewhere to stay - its difficult at the moment. Restaurants are booming...... Condor is fully booked to el catay - only premium economy left I check. 1200 dollars for premium one way........ Nice airline. AF is fully booked mas new year
http://www.airfrance.com/indexCOM.html AF is charging 3000 dollars for round trip to DR 118 000 DP - sign of recession....... and lack of tourists...... ????
Bars and restaurants will be overflowing with champagne at XMas / New Year!
I stock up with my favorite Don Perignon 2000.
And the fireworks to welcome the new year....
One wonders if some people are on another planet......
S.
S.
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What's the huge gain making up for it? Drugs? Congressiional BJs?
S.
Peopl having their hair cut more often, buying new smarter dresses more often for the office and disco - that sort of thing. Also more public works and government employees contributing to the economy.
S.
His real name can't be used in polite company or at leat in public!
S.
Bars and restaurants will be overflowing with champagne at XMas / New Year!
I stock up with my favorite Don Perignon 2000.
And the fireworks to welcome the new year....
One wonders if some people are on another planet......
S.
S.