PRESS RELEASE — The Costa Rica Tourism Report raises concerns about the proliferation of drug-trafficking throughout Central America, which poses a challenge to Costa Rican authorities and could deter tourism to the region. We also analyse the growth strategies being employed by the country to continue to attract arrivals, including airport and port expansions, as well as continued efforts to remain an eco-tourism destination.
Despite the positive prognosis for tourism arrivals growth in 2014, the industry is expecting a mid-year slowdown as a result of the World Cup in Brazil between June and July. A report by Costa Rica’s National Tourism Chamber found that hoteliers think the football tournament encouraged tourists to go to Brazil who might otherwise have gone to Costa Rica. In addition, the fact that the Costa Rican team made it to the World Cup meant that many Costa Ricans went to Brazil to support their team, weighing on domestic tourism prospects. A poll of hoteliers found that most experienced a slowdown in room occupancy during this period but expect it to pick up again in late July. In general, hoteliers are optimistic about full-year prospects, with most regions anticipating occupancy rates of 70% of higher, except the sparsely developed Caribbean and southern Pacific areas.
Full Report Details at
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Key forecasts for Costa Rica’s tourism industry:
* BMI has raised its forecast for arrivals growth in 2015 and is now targeting 3.2% growth, totalling 2.63mn arrivals.
* For 2015, North America will still have the highest number of arrivals at 1.2mn, whilst Latin America follows closely behind with an estimated 1.1mn arrivals.
* Hotels and restaurants industry value will increase to USD1.6bn, a 1.6% y-o-y increase from 2014.
* Following a y-o-y increase of 7.58% in 2014, revenues for transport services will slow slightly in 2015 down to 3.06% y-o-y growth. Receipts for transport services will total USD0.26bn and receipts for travel items will reach USD2.65bn.
The Costa Rica Tourism Report has been researched at source and features Business Monitor International (BMI)’s independent assessment and forecasts for tourist expenditure; government expenditure on tourism; passenger arrivals and departures by mode of transport, reason for travel, origin and destination; and the accommodation market.
BMI’s Costa Rica Tourism Report provides industry professionals and strategists, corporate analysts, associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Costa Rican tourism industry.
* Benchmark BMI’s independent tourism industry forecasts for Costa Rica to test other views – a key input for successful budgetary and planning in the Costa Rican tourism market.
* Target business opportunities and risks in the Costa Rican tourism sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Costa Rica.
* Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).
BMI Industry View
This contains a synopsis of our forecasts, and any changes, together with an overview of key trends and developments in the tourism industry, and an assessment of the impact of various economic and national factors which might affect the sector. It also covers new transport projects, new hotel developments, and acquisitions.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the tourism sector and within the broader political, economic and business environment.