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New Market Research Report: Costa Rica Tourism Report Q3 2013


New Consumer Goods research report from Business Monitor International is now available from Fast Market Research


Published on 26 June 2013



by Bill Thompson

(WireNews)

Boston, MA

The Costa Rica tourism report examines the significant long-term potential currently being demonstrated by the local tourism industry, but flags concerns about the proliferation of drug-trafficking throughout Central America, which poses a challenge to Costa Rican authorities and could potentially deter tourism to the region. We also analyse the growth strategies being employed by the country to continue to attract arrivals, including airport and port expansions, as well as continued efforts to remain an eco-tourism destination.

Costa Rica is forecasting a strong year for tourist arrivals, with the National Institute of Tourism (ICT) predicting more than 2mn arrivals, in line with BMI's forecast for 2.4mn arrivals in 2013. The ICT is increasing its tourism marketing budget accordingly, allocating US$17mn in 2013, a rise on 2012. In particular, the ICT will be focusing on promoting Costa Rica as an ecotourism destination, emphasising the various tours offered in the rainforest regions of the country.

View Full Report Details and Table of Contents (http://www.fastmr.com/prod/617029_costa_rica_tourism_report_q3_2013.aspx?afid=201)

The ICT also aims to bolster arrivals through the construction of the country's first national convention centre, which is set to open in late 2014. The centre will have 15,000m2 of meeting space, as well as a 6,000m2 exhibition hall - the largest in the country. As well as attracting international conferences, the ICT also plans to use the venue as a location for cultural events showcasing the diversity of Costa Rican culture. This will complement smaller convention centres under construction by private companies, such as one currently under construction by the Intercontinental Hotels Group.

- BMI forecasts that inbound tourist arrivals will grow by 2.43% in 2013, to 2.4mn arrivals, while outbound departures will grow by 2.64% to 295.1mn.
. - BMI has revised its US$ calculations for hotels and industry value over the forecast period to reflect exchange rate fluctuations. US$ industry value will fall from US$1.66bn in 2012 to US$1.63bn in 2017. However, industry value will continue to rise in local currency terms, reaching CRC970.4bn in 2017 from CRC846.04bn in 2012.
- BMI forecasts that hotel growth will remain strong over the forecast period, reflecting the ongoing interest of international hotel groups in expanding in the country. The number of hotels in Costa Rica is forecast to rise to 2,770 by 2017, from 2,500 in 2012.


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  • Fast Market Research, Inc.
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Posted 2013-06-26 15:55:00