Costa Rica - Tourism and the Economy

Many have asked if Costa Rica is sufferingThe United Nations World Tourism Organization
economically from decreased travel or investment(UNWTO) projects the increase in world-wide
and home buying as cash-strapped foreigners dealinternational tourist arrivals to be around 3 percent
with world-wide economies suffering from high oilfor 2008 ... while projecting Costa Rica's 2008
prices and other regional issues such as the U.S.tourism increase to be around 10 percent .
home mortgage crisis.Costa Rica has been a member of the United
It should go without saying that Costa Rica isNations World Tourism Organization (UNWTO) for
definitely concerned - especially with fears of athree years and in October, 2008 Costa Rica's
full-blown economic recession in the United States.Minister of Tourism, Carlos Ricardo Benavides,
After all, Americans accounted for 54% of thewas appointed to head the UNWTO Executive
1.9 million visitors that traveled to Costa Rica inCouncil. "The appointment is a high recognition of
2007.Costa Rica's efforts in sustainable tourism. [Costa
Just recently the Costa Rican Institute of TourismRica] has become a model and leader in this
(ICT) launched an aggressive $14 million dollar U.S.arena," said Minister Benavides.
marketing and advertising campaign over theAccording to Minister Benavides; "This position
Internet and through a public relations agencyplays an important role within the WTO as it helps
hired in New York to promote Costa Rica as anto lead and approve ... important topics such as
exotic destination that is closer and less expensivepoverty eradication through tourism in developing
than similarly marketed destinations such ascountries, fair economic distribution, as well as
Thailand and other Asian countries.conversation, protection and adequate use of
Europe is the second largest market for Costanatural resources.
Rica tourism, accounting for 17% of the visitors.Travel to Costa Rica:
The majority of the European travelers are fromLast year, seven new airlines began flying to
Spain, Germany, France, England, and Italy. InCosta Rica; four U.S. and three European. These
addition to these countries, the ICT is intensifyingnew flight options represented an increase in
publicity in the growing markets of Russia, France675,000 available seats for a grand total of 2.7
and Switzerland. Marketing Costa Rica to Asianmillion annual airline seats to Costa Rica - which is
markets is on the agenda as well. Last year ana 33% increase over the last several years.
agreement was signed with China, adding CostaCosta Rica is now working to attract two new
Rica as a tourist destination.low-cost American airlines as well as a giant
With so many different countries choosing CostaEuropean airline interested in adding Costa Rica as
Rica as a first-tier vacation location, the ICTa new destination.
predicts a tourist growth rate of 6% in 2008. ThisGuanacaste, the Pacific Coast - Increase in
in addition to the 10.15% increase achieved justTourism in 2008
last year.Tourism in Guanacaste reached a new high in the
Costa Rica as a Destination for Entrepreneurs:first three months of 2008, as more than 150,000
Surveys of Costa Rica tourists indicate they arepeople flew into the region via the Liberia airport.
well educated and spend considerable discretionaryThese new figures confirm that Guanacaste has
income on travel. The majority are adventurousbecome the principal tourism destination of the
with their choices of activities andcountry, with many tourists so satisfied with their
accommodations and plan their own trips versusexperience that they keep coming back for more.
relying on travel agents. These primarily AmericanVacation and Retirement Homes in Costa Rica:
tourists are; affluent, college educated with overCosta Rica matured approximately five years ago
90% having bachelors or graduate degrees,into a premier destination for vacation and
middle aged, and married without children living atretirement homes. Successful tourism surely
home. Their education and income levels indicatefueled this housing market that has caught-on
they are high-end travelers that are somewhatwith Baby Boomers and their children, the
recession proof.Gen-X'ers.
Activities in Costa Rica:Tourism and Housing Effects in Costa Rica:
Conservative travel activities and moderate length* Costa Rica's economic growth continues
of stay are favored by the typical Costa Ricaunabated.
traveler. The majority of the first-time travelers* Tax receipts for services and infrastructure
prefer Costa Rica more than any other Latinkeep increasing.
American destination that they had visited based* Rundown areas are being cleaned up and
on Costa Rica's ecotourism and its unspoiledmodernized.
environment. The primary activities of these* Property values rise as new housing
travelers are:developments and resorts continue construction.
* Ecotourism* More Costa Rica residents have jobs.
* Sightseeing* Most Costa Rican's view tourism and
* Beach and Waterfront Activitiesdevelopment projects as an opportunity to
Rank of Latin American Countries:improve their own lives.
The fact that Costa Rica was ranked as theThe above information is provided as a simple
number-one destination among Latin Americanoverview of how Costa Rica is doing during these
countries indicates its current worldwidecurrent world-wide economic times.
attractiveness as one of the worlds top touristBottom line: Pretty good overall ;o)
destinations.¡Pura Economía!
Rank of World-Wide Countries: