On 1 May 2018, the Dominican Republic switched. The government initially gave no reason, although it later said in the switchover ceremony that Taiwan was an inalienable part of China and that the switchover was to comply to the one-China policy. It was motivated by loans and investments worth US$3.1 billion. "History and socioeconomic reality" were cited as reasons for the switchover. Flavio Darío Espinal, a government executive, said that "In the following months and years, enormous opportunities for cooperation will gradually open up, not only in the commercial area, but also in the financial, technological, tourist, educational or energy fields. To take just one example, more than 135 million Chinese tourists visit international destinations annually. The establishment of these diplomatic relations will allow part of that tourism to flow into our country in the near future. And that is just one of the things that will improve."