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 substantial growth, driven by factors such as globalization, digitalization, and sustainability. The ongoing COVID-19 pandemic has also prompted shifts in the industry, with increased domestic tourism and a focus on excellent hygiene conditions and contactless service. The industry has seen a surge in visitor numbers, with tourism from North America particularly on the rise. Costa Rica's diverse natural environment and safety levels are key attractions for tourists. The country's tourism sector, one of its fastest-growing economic sectors, is poised for further expansion, especially given the increasing global interest in sustainable and responsible tourism. Market trends in Costa Rica's tourism sector indicate a rise in international tourist arrivals, signifying a recovery in the industry. The country's outdoor recreation facility construction industry is also growing rapidly, driven by the rise in leisure activity and recreation spending by locals and tourists alike. The government's investment in infrastructure has led to an increase in public leisure facilities. Moreover, the country's growing population has resulted in increased residential developments with outdoor recreation facilities. Key players in the Costa Rica tourism industry include Expedia Group, Booking Holdings, Amex GBT, BCD Travel, CWT, Flight Centre, Travel Leaders Group, American Express, and Direct Travel.
Explore MoreCosta 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.
