Insourcing and Government Agricultural Investment: Changing the future of the Dominican Republic
By looking at: the economy as well as the current and the future of insourcing and agriculture in the country
Cory D. Varona
The Pennsylvania State University, Great Valley Campus, MBA Program
Abstract
The history of the economy in the Dominican Republic has shown the country as the primarily exporter of sugar, tobacco and coffee in the Caribbean. This all has changed after telecommunications, tourism and free trade zones have taken over agriculture; which was one’s the economy’s largest employer. According to the World Bank, the last two decades have been viable for the Dominican Republic, as it has been one of the …show more content…
Spain had a big influence on the Dominican Republic; the island was discovered by Christopher Columbus in 1492, he named it “La Espanola” or in English “La Hispaniola”. The island was resided by the Taino indigenous group. This group was forced into slavery by the Spaniards and after all the abuse and illnesses the Spaniards brought, the majority of them died. Santo Domingo is the capital of the Dominican Republic it was founded in 1496 and is the oldest city the European settled on. The island of La Hispaniola stayed under Spanish reign until 1697. Spain let go of the colony to French empire in 1795, but in only few years, 1801 Haitian took controlled of the island. The citizens of the Dominican Republic were not happy and after so many changes, the country continued to have many more deviations by Spain regaining title in 1814 and by the Haitians reconquering the island in 1822. All of the disarray revolted the citizens of Santo Domingo and finally in 1844 the Haitians were overthrown and the Dominican Republic was established as a free …show more content…
The Dominican Republic’s economy was mainly composed of agricultural products like: sugarcane, coffee, cacao, and tobacco. However, this was the foundation of the Dominican economy only until the 20th century. Now the economy is well more diversified based mainly on tourism, free trade zones, manufacturing, telecommunications, and construction. Although is not the main resource for the economy, agriculture and remittances from Dominicans abroad are very important. Expanding the economy has helped the acceleration of urbanization in the main cities, especially Santo Domingo the capital, and has risen the size of the middle class. All the change has been thanks to the government of the Dominican Republic, they played a major role in the economic growth by permitted numerous manufacturing companies (foreign-owned factories) to be established in tax-free port zones. By the last decade, the country had one of the highest economic growth rates in the world. Nevertheless, what reminds a sad true is how poverty has continued to
By looking at: the economy as well as the current and the future of insourcing and agriculture in the country
Cory D. Varona
The Pennsylvania State University, Great Valley Campus, MBA Program
Abstract
The history of the economy in the Dominican Republic has shown the country as the primarily exporter of sugar, tobacco and coffee in the Caribbean. This all has changed after telecommunications, tourism and free trade zones have taken over agriculture; which was one’s the economy’s largest employer. According to the World Bank, the last two decades have been viable for the Dominican Republic, as it has been one of the …show more content…
Spain had a big influence on the Dominican Republic; the island was discovered by Christopher Columbus in 1492, he named it “La Espanola” or in English “La Hispaniola”. The island was resided by the Taino indigenous group. This group was forced into slavery by the Spaniards and after all the abuse and illnesses the Spaniards brought, the majority of them died. Santo Domingo is the capital of the Dominican Republic it was founded in 1496 and is the oldest city the European settled on. The island of La Hispaniola stayed under Spanish reign until 1697. Spain let go of the colony to French empire in 1795, but in only few years, 1801 Haitian took controlled of the island. The citizens of the Dominican Republic were not happy and after so many changes, the country continued to have many more deviations by Spain regaining title in 1814 and by the Haitians reconquering the island in 1822. All of the disarray revolted the citizens of Santo Domingo and finally in 1844 the Haitians were overthrown and the Dominican Republic was established as a free …show more content…
The Dominican Republic’s economy was mainly composed of agricultural products like: sugarcane, coffee, cacao, and tobacco. However, this was the foundation of the Dominican economy only until the 20th century. Now the economy is well more diversified based mainly on tourism, free trade zones, manufacturing, telecommunications, and construction. Although is not the main resource for the economy, agriculture and remittances from Dominicans abroad are very important. Expanding the economy has helped the acceleration of urbanization in the main cities, especially Santo Domingo the capital, and has risen the size of the middle class. All the change has been thanks to the government of the Dominican Republic, they played a major role in the economic growth by permitted numerous manufacturing companies (foreign-owned factories) to be established in tax-free port zones. By the last decade, the country had one of the highest economic growth rates in the world. Nevertheless, what reminds a sad true is how poverty has continued to