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Dominican Republic Receives US$10,756 Million In Remittances In 2024

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The Dominican Republic received US$10,756 million in remittances in 2024, a 5.9% increase ($598.8 million) compared to 2023, according to the Central Bank. December alone accounted for US$1,003.5 million, marking a 6.2% year-over-year rise. These funds, primarily from the Dominican diaspora, play a crucial role in driving consumption, investment, and financial support for vulnerable sectors.

The Central Bank attributed the growth to the strong U.S. economy, which contributed 80.3% of December’s remittance flows (US$710.5 million). With an estimated 1.3 million Dominicans residing in the U.S., steady unemployment rates around 4% further bolstered remittance inflows. Spain, the second-largest source, contributed US$55.9 million (6.3%), followed by Italy, Haiti, Switzerland, Canada, and Panama.

In addition to remittances, the Central Bank highlighted robust foreign exchange earnings from tourism (US$10,600 million), free trade zone exports (US$8,500 million), and domestic-sector companies (US$5,400 million). These combined inflows, totaling approximately US$43,600 million, helped maintain exchange rate stability, with the Dominican peso depreciating by just 5% in 2024. (https://dominicantoday.com/dr/economy/2025/01/10/dominican-republic-receives-us10756-million-in-remittances-in-2024/)

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MuniGuate
Nestle
Realidad Turística
Cervecería Centroamericana S.A.
Barceló Solymar
Grupo Hotelero Islazul
AVA Resorts
Agexport
Cubasol
Los Portales
Intecap
MAD-HAV Enjoy Travel Group
Centro Nacional de Cirugía de Mínimo Acceso de Cuba
Servicios Médicos Cubanos
INOR
Herbalife
MITM Events
INTERFER
blackanddecker
Instituto Hondureño de Turismo
Walmart