International trips often take unplanned turns for the most disparate reasons, but a hurricane-induced change of schedule is out of the ordinary. This is what happened as The Banker visited the Dominican Republic in early September – the peak month of hurricane season. Luckily, the country suffered much less disruption from Hurricane Irma than other less fortunate countries elsewhere in the Caribbean; its most recent catastrophe occurred nearly two decades ago in 1998.
Dealing with extreme climate events that are becoming both increasingly frequent and devastating remains a harsh reality, however, and the country is building a solid infrastructure to mitigate the problem. Resilient buildings are essential to safeguard a booming economy that relies heavily on tourism and has been growing at a rate that is exceptional in an otherwise stagnating region. In 2016, gross domestic product (GDP) grew by 6.6% and was the largest in Latin America and the Caribbean for the third consecutive year. Although likely to be lower, forecasts for 2017 and 2018 are also encouraging.
