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Get to Know About Dominican Republic
The Dominican Republic sits on the island of Hispaniola – the home to both Haiti and the Dominican Republic. The country’s shores are washed by the Caribbean Sea to the south and the Atlantic Ocean to the north.
The country covers a total area of 48, 310 square kilometers, and has an estimated population of about 9.9 million people. Santo Domingo is the capital and the largest city, with the official language being Spanish, and the main religion being Christianity. Though it may be known for tourism, its access to the both Atlantic Ocean and the Caribbean Sea gives it a lot of strategic importance as far at doing business in the Dominican Republic and entire Latin America is concerned.
It is the 8th largest economy in Latin America and the largest economy in Central America and the Caribbean regions. It is considered as a developing country, with the majority of the population being middle-income earners. The main drivers of the economy include mining, agriculture, trade, and hospitality services, given that it is a top destination for tourists interested in sampling the best gems in the Caribbean.
The tourism industry alone brings in more than $1B in annual revenue. When this is coupled with the fact that it is a developing country with the majority of the population being middle-income earners, you realize that there are incredible opportunities for investors interested in doing business in Dominican Republic.