Dominican Republic Tourism, Remittances Got US$11.9B

• Remittances and the tourism sector have generated income to the Dominican Republic Government of US$11.9 billion in the first nine months of 2021. 
• According to data from the Central Bank of the Dominican Republic (BCRD), tourism revenues stood at US$3.8 billion, 90.2% above the January-September 2020 record. 
• Likewise, during the first nine months of the year, remittances reached US$7.9 billion, 34.4% more than in January-September 2020 and 48.5% above the same period of 2019. 
• 85% of the remittances received in the country come from United States, 6.7% Spain, 1.0% Haiti, among others. Official data indicate that since 2010, citizens in the Dominican Republic received a total of US$66.3 billion, 2020 was the year that more remittances were issued to the country. However, 2021 is on pace to exceed it. 
• This strong performance will support IMF’s 9.5% projected growth for 2021. Further, tourism inflows will bolster government revenues and help to narrow the fiscal deficit to 4.4% in 2021 from 8.0% in 2020.

(Source: Dominican Today & NCBCM Research)