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Saturday, November 12, 2011

Dominican Republic to renovate capital with $31.5M

The Dominican Republic plans to spend $31.5 million to promote tourism in the capital of Santo Domingo.

Tourism Minister Francisco Javier Garcia said Thursday that a $30 million loan from the Inter-American Development Bank plus $1.5 million in local funds will be used to restore historic sites. The money also will be used to plant trees, eliminate aboveground electrical wires and organize street vendors in the colonial zone.

The government says only 15 percent of the 4 million tourists who visit yearly stop in Santo Domingo.

The bank estimates the project will boost the number of visitors from 600,000 to 1.6 million by 2016.

Most visitors flock to all-inclusive resorts along the northern and eastern coasts.

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Source: Business Week

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