Q COSTA RICA — Tourist arrivals to Costa Rica will continue to grow in the coming years, according to an analysis by the consulting firm Mordor Intelligence.
The expectation is that the tourism market will continue to grow at an annual rate of 7.4% until 2031.
“Within this projection, the meetings, incentives, conferences, and exhibitions (MICE) segment will grow at 13.2% annually, above the overall market rate, as will domestic travel, at 9.75%. Leisure will remain the main driver, accounting for 78.3% of the total,” according to the report published by Infobae.
According to Mordor Intelligence, several constraints are expected to reduce the projected growth rate by between 0.3 and 0.9 percentage points.
“The most costly factor in the short term is the inflation of the average daily rate in Guanacaste, which exceeds that of its regional peers during the high season and reduces the competitiveness of mid-range offerings. The other is related to the scarcity of slots at airports, which represents an additional loss of -0.8%, with significant effects for private aviation and incentive groups,” the report highlights.