Extra boost for Dominican Republic tourism, report suggests
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The Dominican Republic's tourism industry is set to receive new investment worth €3.7 billion (£2.9 billion), according to Dominican Today.
Businesses based at Spain's Balearic Islands are reported to be the source of the investment, which is to be phased over three years.
It says the same group has already provided heavy investment in the country but now wants the construction of a railway linking Santiago and Santo Domingo.
The report says it will be the latest boost to the country's tourism industry, following the announcement of a number of new Aerocaribbean flights "likely to attract multi-destination tourists" and plans for the construction of a $10 million (£5 million) ferry terminal.
Anyone in the UK considering Caribbean off plan property investment may be interested in findings from the Dominican Republic Ministry of Tourism reported by Dominican Today which suggest tourist arrivals for the first quarter of 2008 represent an increase of eight per cent on the same period last year.
Last week, Dominican Today reported the Dominican Republic government is to receive a loan worth $75 million from the Organisation of Petroleum Exporting Countries, a proportion of which will be spent on improvements in popular tourist regions.
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