Santo Domingo – Still drinking lots of beer, recession-proof is overproof?
by AirBourne / March 19th, 2009
I read Robert “Rich Dad, Poor Dad” Kiyosaki from time to time and one of the best businesses he believes to have is a bar, as he sees it – when the economy is good people celebrate with a toast… If the budget is tanking, then folks will commiserate at where else?
Despite global concerns about a looming financial crisis, unemployment and other day-to-day worries, Dominicans are still drinking lots of beer. Listin Diario reports that beer sales grew 14% in February, citing statistics from the Tax Department (DGII). The DGII says that revenues produced by the selective tax on consumption (ISC) grew by 14.3%.
The DGII says that it collected RD$522.8 million on beer sales, which is RD$89 million more than in February 2008, for a 20.5% increase.
The ISC on beer totaled RD$124.5 million in February. The Dominican National Brewery was the only brewer whose ISC increased, totaling 18%, while Ambev’s fell by 16%, as did La Vegana Brewery, -7.8%.