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Monday, September 1, 2014

The prosperous side of Hispaniola drops by

We just got our first visit from the Dominican Republic, home to countless Major League Baseball players and destination for even more weddings and honeymoons, not to mention regular old Caribbean vacations. Of course, as anyone can tell you,
[t]he Dominican Republic . . . is a nation on the island of Hispaniola, part of the Greater Antilles archipelago in the Caribbean region. The western three-eighths of the island is occupied by the nation of Haiti, making Hispaniola one of two Caribbean islands, along with Saint Martin, that are shared by two countries. Both by area and population, the Dominican Republic is the second largest Caribbean nation (afterCuba), with 48,445 square kilometres (18,705 sq mi) and an estimated 10 million people, one million of which live in the capital city, Santo Domingo.
I once had a job offer in the Dominican Republic. Maybe should have taken it, as it likely would have kept me from going to law school, plus I've never been. But I hear it's great.

Chris Columbus was the first known European to find the island, on December 5, 1492, and his brother, Bart, built the capital city, Santo Domingo, in 1496, establishing "Western Europe's first permanent settlement in the "New World". The Spaniards created a plantation economy on the island.[28] The colony was the springboard for the further Spanish conquest of America and for decades the headquarters of Spanish power in the hemisphere."

The country is a multi-party representative republic, much like the U.S., with three branches of government (legislative, executive and judicial). The economy is pretty good for the region. The country has
the second largest economy[13] (the largest, according to the U.S. State Department)[18] in Central America and the Caribbean. It is an upper middle-income developing country,[81] with a 2007 GDP per capita of $9,208, in PPP terms, which is relatively high in Latin America. In the trimester of January–March 2007 it experienced an exceptional growth of 9.1% in its GDP, which was actually below the previous year's 10.9% in the same period. Growth was led by imports, followed by exports, with finance and foreign investment the next largest factors.[82]The Naco sector, in Santo Domingo, with a view of Tiradentes Avenue
The Dominican Republic is 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. The service sector in general has experienced growth in recent years, as has construction. Free Trade Zone earnings and tourism are the fastest-growing export sectors. Real estate tourism alone accounted for $1.5 billion in earnings for 2007.[83] Remittances from Dominicans living abroad amounted to nearly $3.2 billion in 2007.
The Dominican Republic is 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. The service sector in general has experienced growth in recent years, as has construction. Free Trade Zone earnings and tourism are the fastest-growing export sectors. Real estate tourism alone accounted for $1.5 billion in earnings for 2007.[83] Remittances from Dominicans living abroad amounted to nearly $3.2 billion in 2007.
Plus, it's purdy:


So let's give a big Eff You welcome to The Dominican Republic. Come again soon, and bring your friends.

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