Market Trends of Costa Rica Tourism Industry
Increase in the Number of International Tourists Arrival is Driving the Market
According to the Costa Rica Tourism Institute, approximately 632,000 tourists traveled through Costa Rica by all routes in the first three months of this year, representing 63% of all international tourism arrivals compared to the start of the year in 2019.
There are signs of recovery in tourism, recreation, and gastronomy. There is an increase in the number of people going to restaurants, resorts, or events like concerts and football games. According to the National Tourism Chamber, the occupancy rate in Sun and Beach Hotels during Easter Week of this year was 93%, while according to the Costa Rican Hotels Chamber, it was up to 98%. In 2022, the number of international tourists visiting Costa Rica increased by more than 74 percent, reaching nearly two and a half million. However, it was still 25 percent lower than the record-breaking three million visitors in 2019. Costa Rica's total visitor spending, including transportation costs, exceeded USD 1.7 billion in 2021. International tourists spent an average of USD 1.5 thousand dollars per trip, accounting for nearly one-fifth of Costa Rica's service exports in 2021.
Tourism-related indirect industries (from air transportation to domestic transportation, restaurant and hotel services, guides, handicraft sales, national park and resort tickets, etc.) demonstrate the importance of maintaining a level playing field for both domestic and international visitors. According to the CBP, tourism employs 245,253 individuals in 2018, which equates to 10.5 % of the EAP population. The direct and indirect impacts of tourism-related activities also affect the recovery of jobs in Costa Rica.
Increase in the Recreational Activities in Costa Rica is Driving the Market
The Costa Rica Outdoor Recreation Facility Construction Industry is one of the most established and fastest-growing industries in the country. Costa Rica is one of the world's most popular tourist destinations due to its abundance of natural beauty and eco-tourism. As a result, the country's popularity for outdoor recreation has skyrocketed, leading to an ever-growing demand for recreational facilities such as outdoor parks, outdoor playgrounds, outdoor sports fields, and more. In addition, Costa Rica has one of the most diverse and varied landscapes in the world, making it an ideal country to develop outdoor recreation facilities.
One of the main reasons for the industry's growth is the rise in leisure activity and recreation spending by Costa Ricans, as well as tourists. With increased disposable income, more people can afford to enjoy outdoor recreation facilities like sports clubs, pools, and more. This has increased private recreational facilities. Costa Rica's government is investing in infrastructure, which has resulted in a rise in public leisure facilities like parks, playgrounds, and more. As the tourism industry grows, so does the number of outdoor recreation hotels and resorts.
Another reason for the industry's growth is the growing population. As Costa Rica's population increases, so does the need for housing and amenities, such as outdoor recreation facilities (ORFs). This has resulted in an increase in residential developments with ORFs. The government's efforts to encourage tourism, the nation's growing population, the growing trend of leisure spending among citizens and tourists, and the increased demand for outdoor recreation facilities are all factors that will continue to drive the growth of this industry. As disposable income continues to rise, so will the number of people using outdoor recreational facilities.
