Q COSTARICA (Todoelcoco TV) — The appreciation of the colón against the U.S. dollar, which has taken the exchange rate to its lowest level in almost two decades, is generating concern among tourism entrepreneurs in Guanacaste.
Hotels, restaurants, and tour operators are reporting a decrease in the purchasing power of foreign tourists, primarily Americans and Canadians, who are receiving fewer colones for every dollar spent.
This situation is impacting the region’s competitiveness, as many businesses receive revenue in dollars while facing costs in colones, significantly reducing their profit margins.
To mitigate the impact, several companies are exploring rate adjustments, more promotions, and a greater focus on domestic tourism.
Despite the challenging outlook, industry representatives maintain that Guanacaste holds a strong position as a tourist destination, thanks to its infrastructure, hotel offerings, and the consistent arrival of flights at the Guanacaste Airport (LIR) in Liberia, which continues to be a key driver of the local economy.
However, they acknowledge the need to strengthen visitor attraction strategies throughout the year.
Economic experts recommend closely monitoring exchange rate fluctuations, as a prolonged weak dollar could negatively impact investment and financial planning in the sector.
Translated and adapted from TodoelCoco TV Facebook page