Dominican Republic
Brief description
The Dominican Republic is a Latin American country located in the Greater Antilles archipelago on the Caribbean island of Hispaniola. It shares the island with the Republic of Haiti, making Hispaniola one of two Caribbean islands that are split by two countries; the other is Saint-Martin/Sint Maarten. Hispaniola is the second-largest of the Greater Antilles, and lies west of Puerto Rico and east of Cuba and Jamaica.
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Las Canas
Set on the beautiful, white sand beaches of the warm Caribbean Sea, this boutique development is an ideal investment opportunity for those seeking 5-star luxury in a haven of tropical, natural beauty. Las Canas’ range of studios, apartments and exclusive spa villas comes with a high rental yield guarantee.
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Two Rivers
With miles of stunning beaches at its feet and world-class facilities, this is an astute investment for those wishing to own a slice of Caribbean paradise and take advantage of guaranteed high yields. This 5-star resort will feature studio suites, apartments, luxury villas and an exclusive Island Sanctuary.
The Dominican Republic is the site of the first permanent European settlement in the Americas, its capital Santo Domingo, which was also the first colonial capital in the Americas. It is the site of the first cathedral, university, European-built road, European-built fortress, and more. For most of its independent history, the nation experienced political turmoil and unrest, suffering through many non-representative and tyrannical governments. However, since the death of military dictator Rafael Leónidas Trujillo in 1961, the Dominican Republic has moved toward representative democracy.
Economy
The Dominican Republic is a lower middle-income developing country primarily dependent on natural resources and government services. Although the service sector has recently overtaken agriculture as the leading employer of Dominicans (due principally to growth in tourism and Free Trade Zones), agriculture remains the most important sector in terms of domestic consumption and is in second place, behind mining, in terms of export earnings. Tourism accounts for more than $1.3 billion in annual earnings. Free Trade Zone earnings and tourism are the fastest-growing export sectors. Remittances ("remesas") from Dominicans living abroad are estimated to be more than $2 billion dollars per year.
Following economic turmoil in the late 1980s and 1990, during which the gross domestic product (GDP) fell by up to 5% and consumer price inflation reached an unprecedented 100%, the Dominican Republic entered a period of moderate growth and declining inflation until 2002, after which the economy entered a recession.
Interesting locations
El Alcázar de Colón (Diego Columbus' Castle) is the seat of the Americas' first viceroyalty. The palace is a national monument and museum, containing more than 800 pieces, including ceramics, tapestries, sculptures, furniture, and paintings, some of these dating from the thirteenth century to the twentieth. The country has America's first cathedral, Catedral Metropolitana de Santa María de la Encarnación. It was begun in 1512 and consecrated in 1541. It is built in the Gothic style and has an Italian facade with Renaissance decoration. In its interior it contains quite a treasure trove of art, from furniture to paintings to bells to fine woodwork and more.
Article from Wikipedia, The Free Encyclopedia, Dominican Republic
Links
- BBC News Country Profile - Dominican Republic
- US Department of State - Dominican Republic
- CIA World Factbook - Dominican Republic
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Federal Research Division, Library of Congress -
Dominican Republic : a country study
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