Costa Rica Tourism Still on the Rise
Despite economic worries in main North American Markets, Costa Rica's tourism industry is still growing. Last year was unquestionably a year of growth for Costa Rica's tourism industry and the beginning of 2008 confirms consistency. International tourist arrivals registered at the Juan Santamaría International Airport (SJO) and Daniel Oduber Quirós (LIR) have showed a steady growth. According to the Insituto Costarricense de Turismo (ICT), 127,647 international visitors arrived by plane in January of 2008, marking a 13.7 percent over the same month of 2007.
Expansion began last year with U.S. and European airline companies including Spirit Airlines, Frontier, Champion Air, Sunwing Airlines, First Choice, Air Caraibes, and Air Comet flying across Costa Rican skies. Costa Rica closed 2007 with a total of 1.9 million international tourist arrivals, an 11.5 percent increase in comparison to 2006. Revenue generated by international tourists reached a historic high of US$1.9 billion, up US$300 million from last year.
In terms of investment, in 2007 Costa Rica received an estimated US$800 million in tourism investment; excluding investment in real estate development. Hilton, Marriott, Ritz Carlton, Rosewood, One & Only, RIU, Starwood and Wyndham are among some of the hotel chains that decided to invest in Costa Rica’s tourism industry.
These statistics prove that Costa Rica is still in demand for travelers as well as investors and real estate buyers. The real estate market continues to be strong with buyers seeking a more affordable and quality lifestyle for retirement and second homes.