Market Size of Costa Rica Tourism Industry
| Study Period | 2024 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Costa Rica Tourism Market Analysis
The Costa Rica Tourism Market is valued at about USD 300.2 million and is expected to register a CAGR of more than 5% during the forecast period.
In recent years, some key influencers on the travel and tourism industry have been globalization, digitalization, sustainability, and the coronavirus pandemic. Ease of mobility increased awareness of new destinations, and the internet as a source of information and commerce has caused the industry to grow exponentially. When it comes to the industry's future, increased domestic tourism, excellent hygiene conditions, and contactless service are all examples of changing consumer interests due to the COVID-19 pandemic.
In the first six months of 2023, Costa Rica's tourism industry attracted 1.338,303 visitors, an increase of 19.4% over the same period of 2022 and surpassing the 2019 figures. Tourism in Costa Rica has been on the rise for several reasons, including its high level of safety, its natural environment, and its variety of attractions and activities. Tourism authorities estimate that about 90% of tourism to Costa Rica is by air, with 202,235 travelers arriving by plane in June 2023. Some 142,025 tourists entered via the Juan Santamaría International Airport, while 60,177 arrived via the Guanacaste International Airport, both increasing by 10.1 percent and 5.5 percent, respectively, over the same month last year. Tourism from North America was on the rise, with 21% more visitors from that region than in 2022, according to the ICT. This year, Costa Rica welcomed 792, 944 extra visitors from the US, 148 973 visitors from Canada, and 35,866 visitors from Mexico.
Tourism is one of the fastest-growing economic sectors in Costa Rica, and it's expected to continue to grow in the months ahead. The tourism industry in Costa Rica has the potential to benefit from the increasing global interest in sustainable and responsible tourism. Costa Rica is well-positioned to continue to attract visitors from all over the globe, and tourism will continue to be a major contributor to the country's economic development in the years ahead.
Costa Rica Tourism Industry Segmentation
The Costa Rica Tourism Market can be segmented on the basis of type (local/domestic, international) and by purpose (Adventure, Business, Medical, Sea Farming, and others).
Costa Rica is located in parts of North America and the Central American region. Market prospects are excellent in a variety of sectors, including building products, construction equipment, hotel and restaurant equipment, solar energy, franchising, cosmetics, auto parts and service equipment, electric vehicles and related equipment, pharmaceuticals, packaging, education, and tourism to the Costa Rica market. The report offers market size and forecasts for the US Real Estate Services Market in value (USD) for all the above segments.
| By Type | |
| Local/Domestic | |
| International |
| By Purpose | |
| Adventure | |
| Business | |
| Medical | |
| Sea Farming | |
| Other Purposes |
Costa Rica Tourism Market Size Summary
The Costa Rica tourism market is experiencing significant growth, driven by factors such as globalization, digitalization, and a heightened focus on sustainability. The industry has rebounded strongly post-pandemic, with increased domestic tourism and a surge in international visitors, particularly from North America. Costa Rica's appeal as a safe destination with rich natural beauty and diverse attractions continues to attract a global audience. The tourism sector is a crucial component of the country's economy, contributing substantially to service exports and employment. The rise in eco-tourism and responsible travel aligns with global trends, positioning Costa Rica as a leading destination for sustainable tourism.
The growth of the tourism industry in Costa Rica is also fostering the development of related sectors, such as outdoor recreation facilities, which are becoming increasingly popular due to rising leisure spending and a growing population. Government investments in infrastructure and the expansion of private recreational facilities are enhancing the country's appeal as a tourist destination. The presence of major international travel companies and the limited but expanding domestic hotel chains contribute to the competitive landscape. As the industry continues to grow, it is expected to play a pivotal role in the country's economic development, with ongoing investments in tourism-related infrastructure and services.
Costa Rica Tourism Market Size - Table of Contents
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1. MARKET DYNAMICS AND INSIGHTS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Value Chain Analysis
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1.5 Industry Attractiveness - Porter's Five Forces Analysis
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1.5.1 Bargaining Power of Buyers
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1.5.2 Bargaining Power of Suppliers
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1.5.3 Threat of New Entrants
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1.5.4 Threat of Substitutes
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1.5.5 Intensity of Competitive Rivalry
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1.6 Insights on Technological Innovations in the Market
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1.7 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Local/Domestic
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2.1.2 International
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2.2 By Purpose
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2.2.1 Adventure
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2.2.2 Business
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2.2.3 Medical
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2.2.4 Sea Farming
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2.2.5 Other Purposes
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Costa Rica Tourism Market Size FAQs
What is the current Costarica Tourism Market size?
The Costarica Tourism Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Costarica Tourism Market?
Expedia Group, Booking Holdings, Amex GBT, BCD Travel and CWT are the major companies operating in the Costarica Tourism Market.
