The Dominican Republic's economy is outperforming those of its neighbors.
The 2017 hurricane season hit the Caribbean hard, leaving a trail of destruction and death—sometimes wiping out whole settlements. It also sparked fresh doubts that turquoise waters and sandy beaches will draw enough tourists or the investment and spending that goes with a robust tourism industry.
Emerging & Frontier Markets
Good news from Latin America: With Brazil and Argentina coming out of the 2015-2016 recession, the region has returned to expansion mode and is expected to gain economic strength this year and next. The return of capital inflows and an apparent change in foreign direct investment (FDI) are the most evident signs that investors’ views of South and Central America have tilted more to the positive of late. The region is back on track.
Despite hurricane damage, average economic growth in the Caribbean is expected to top the Latin American average according to the IMF. However, Dominica's GDP is expected to decline and weak growth is likely in Puerto Rico and the U.S. Virgin Islands where pre-existing macroeconomic weaknesses were compounded by storm damage.