Costa Rica Tourism Report Q1 2015

Business Monitor International
November 26, 2014
54 Pages - SKU: BMI5392031
Countries covered: Costa Rica

Costa Rica Tourism Report Q1 2015

There are positive trends apparent in the Costa Rican tourist industry, with arrivals growth feeding into avirtuous circle of growing tourism, more hotel construction and greater investment in the industry. Webelieve that the government's efforts to support the industry through infrastructure development willcontinue to bring benefits, particularly if the long-delayed road project between San Jose and Limon goesahead.

Costa Rica is expected to have recorded a stellar year in 2014; we project arrivals growth of 9.8% year-onyear(y-o-y), bringing the total number of tourists to 2.7mn. This was the highest growth rate since thedownturn of 2007 and indicates that the industry has now returned to a sustained growth path. Stronggrowth from the US led this surge in arrivals, with arrivals from North America expected to grow by 13.0%in 2014. This will more than compensate for ongoing weakness in Europe; we project low arrivals growthof 3.0% in 2014 and declines in 2015 and 2016. We remain positive on the outlook for Costa Rica's touristmarket and note that lower forecast arrivals growth in 2015, of 1.6%, is a consequence of high base effectsand not an indication of a slowdown in the market. While we do not expect arrivals to grow at 2014's rateover the rest of the forecast period, we expect steady arrivals growth, with a concomitant increase in hotelsand restaurant value.



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