Dominican Travel Industry Now Skidding off the Runway

British weekly publication The Economist is seeing sees serious challenges ahead in the critical sector of tourism in the Dominican Republic.

The renowned British magazine -specialized in economic news and market analysis- sees local tourism declining rapidly.

"The formula that brought growth in the 90´s is no longer repeatable", The Economist says. "However, the foundations for economic recovery have been laid and the country is out of intensive care."

President Leonel Fernandez´s austerity programs, tax increases, and strict monetary policy have helped reduce the flight of capital, decrease inflationary pressures, and restore confidence in the currency.

According to The Economist, authorities in the Caribbean nation should now draw a bead on the elimination of corruption and reduction of poverty.