Tranquility Resorts Limited
Tranquility Resorts Limited
The second largest and most diverse Caribbean country situated just 2 hours south of Miami, less than 4 hours from New York and 8 hours from most European cities. Known for the warm and hospitable people, Dominican Republic is a destination like no other, featuring astounding nature, intriguing history and rich culture.
The government is very supportive of foreign and local investment, with increased worldwide campaigns such as ‘Dominican Republic Has it All’ and #TheRealDR with the aim of reaching 10 million tourists by 2023.
The Democratic State bank announced in January 2020 that it will focus on funding tourism projects, especially in Barahona and the Southwest of the country, along with tax incentives that provide a 15 year exemption for companies engaged in tourism development.
The second largest and most diverse Caribbean country situated just 2 hours south of Miami, less than 4 hours from New York and 8 hours from most European cities. Known for the warm and hospitable people, Dominican Republic is a destination like no other, featuring astounding nature, intriguing history and rich culture.
The government is very supportive of foreign and local investment, with increased worldwide campaigns such as ‘Dominican Republic Has it All’ and #TheRealDR with the aim of reaching 10 million tourists by 2023.
The Democratic State bank announced in January 2020 that it will focus on funding tourism projects, especially in Barahona and the Southwest of the country, along with tax incentives that provide a 15 year exemption for companies engaged in tourism development.
Dominican Republic is the most visited Caribbean Island with 40m visitors in the last 7 years and 6.5m visitors in 2018. By 2023 this is forecasted to reach 10m per annum, a 9.0% increase year on year.
The additional growth shows the increased investment with projects moving westward to capture the ecotourism market, which is one of the fastest growing markets in the world.
The new international airport at Pedernales and the Puntarena development highlight increased investment in the area.
In 2018, 80% of all tourist visits were to protected areas, highlighting the increasing popularity for diversified experiences and cultural travel.
This highlights the potential of Tranquility Resorts as the first major entrant into the natural Southwest coast.
Tourist Arrivals and Expenditure figure 1.
Tourist Arrivals and Expenditure figure 2.
Source: Gerald Eve/Central Bank of Dominican Republic
Source: Gerald Eve/Central Bank of Dominican Republic
Tourism Development Council approved new hotel projects with a total investment of $467.5 million, primarily from foreign capital.
Occupancy and ADR is one of the highest performing in the Caribbean/Latin American countries.
Key developments on the island include increased international airports and 8,000 kilometres of new or renovated roads in the last 4 years.
In the last 5 years, Dominican Republic has averaged a 3.5% growth in hotel rooms, with an impressive 77.5% occupancy rate and Average Daily Rate of $136.24.
Tourism expenditure was $7.56b in 2018 which was 37% of exports
All major tourist areas are connected and accessible within a 2-hour drive.
Source: Gerald Eve/Central Bank of Dominican Republic
North American Tourists in 2019
aircraft arrivals per year
cruise ship passengers in 2019
decrease in the number of criminal acts in 2018
of Dominican Republics GDP is contributed directly by tourism, and 16% of employment
in foreign currency income from tourism over the past 7 years
tourists is the governmental target by in the next 3 years
occupancy rate in 2019, a 1.1% growth over the previous year
total investment of recently approved new
hotel projects
