Tourism spending analysis: Panama versus the Dominican Republic

23-03-24

In the vibrant international tourism scene, two Latin American destinations have captured attention for contrasting reasons. On the one hand, the Dominican Republic has positioned itself as a global tourism powerhouse, thanks to its impressive growth and attractive future. Last year, the Caribbean country broke records by welcoming more than 10 million visitors. However, a closer look at tourism spending reveals a paradox: despite its popularity, in terms of spending per visitor, the Dominican Republic is surpassed by Panama. Why the difference?

In 2023, Panama welcomed 2,518,476 tourists, who left a remarkable economic impact of US$5,451.9 million. Adjusting the figures to make a fair comparison and excluding cruise ship visitors, the Dominican Republic welcomed 8,058,671 tourists, generating US$9,828.9 million in revenue. Although the Dominican Republic leads in absolute terms, the average daily expenditure per tourist in Panama reached US$270.6, significantly exceeding the US$153.3 observed in the Caribbean country.