The Dominican Republic has earned a reputation for excellence as a purveyor of world-class luxury resorts, designer golf courses and white sand beaches, a fact that has helped transform the island nation into the largest economy in the Caribbean and Central America – and the envy of its neighbours. And little wonder:
- The DR has a growing and stable economy, with per capita GDP of US$ 4,797.8 in 2008, which denotes a high purchasing power for Latin America, according to the World Bank.
- Leading the growth are tourism and the DR’s Free Trade Zones, where top-name manufacturing companies from around the world have set up shop to take advantage of tax incentives.
- DR’s travel and tourism economy is forecast to outperform the rest of the Caribbean between 2010 and 2019, according to the World Travel and Tourism Council.
- International Living has named the DR one of the world’s Top 30 Countries to Retire in 2009 – the only one on the list from the Caribbean.
- The DR has been recognized as one of the top golfing destinations in the world.
- The United States, a partner with the Dominican Republic in a free trade agreement with Central America, poured about $3 billion in direct foreign investment into the country in 2008, mostly in the energy and tourism sectors.
- Private foreign investment in real estate development remains strong, with millions of dollars being poured into the newly developed Samana Peninsula in the north and developers competing for a spot in the soon-to-be-developed southwest region.