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Punta Cana, Dominican Republic is the Caribbean’s New Economic Growth Leader

Punta Cana, Dominican Republic is the Caribbean’s New Economic Growth Leader

The Dominican Republic is already well known for being a popular tourist destination, but the beautiful city of Punta Cana is taking the country’s reputation as a vacation hotspot to another level. Punta Cana, Dominican Republic attracts approximately 3.43 million visitors a year, making it the leading tourist destination in Latin America. The government of the DR has already expressed that they aim to bring their national yearly tourism up to 10 million annual visitors by 2023, and Punta Cana is poised to be the biggest contributor to that number.

Punta Cana International Airport

The local airport, PUJ, is a major driver of Punta Cana economic growth. In fact, it was the world’s first privately owned international airport, and it is now generally considered to be the fastest growing airport in the Dominican Republic. It currently sees seven million passengers annually, and that number is expected to increase. The airport is currently preparing to be able to serve the Airbus 380, the world’s largest commercial aircraft. This will allow them to bring in an increased level of tourism via direct flights from far-flung countries in Europe and Asia, as well as other parts of the Americas and the Caribbean.

Global Recognition

While the entire country of the Dominican Republic is already well-known for being a tourist destination, Punta Cana, in particular, is now seeing recognition from travelers all over the world as an appealing vacation spot or even a new home. Punta Cana has seen a jump in tourism by 8.8% from 2016 to 2017, with growth levels only expected to increase. It achieved the highest visitor numbers in Latin America as well, and has drawn in a whopping USD $6.8 billion from tourism. This has positively affected the value of Punta Cana investments as well as the already luxurious quality of life there. International businesses are now bringing their services to Punta Cana, but local Dominican culture remains as strong as ever.

If you are looking to invest in a rental, a vacation property, or even a new full-time home, Punta Cana should be on your list of potential destinations. With the area’s economic growth skyrocketing, now is the best time to take advantage of the area’s value. Siria Mieses Real Estate offers comprehensive real estate services to investors from around the world interested in the Dominican Republic.

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