Costa Rica's Tourism Industry - You Shouldn't Care...
...Unless you are an entrepreneur, retailer, real estate developer, real estate investor, real estate agent, travel professional, retiree, or even someone with an adventurous spirit!
Costa Rica's tourism industry - one of the major industries in Costa Rica's economy - has been on a continuous growth for over 10 years now, coming onto the world scene years ago with their eco-tourism. The trend is continuing with an even brighter future ahead.
2007 was no exception. Here, you'll find some of the highlights from the Costa Rica Tourism Board's recent report on the performance of the travel industry in the past year.
Costa Rica 2007 - Tourism Highlights
Get a preview of Costa Rica's 2007 tourism highlights
- Crime against tourists decreased by 26%!
Every country has its issues with crime, and Costa Rica's predominant crime is petty theft, typically targeted towards tourists. Of course, with some common sense - like not flashing cash or valuables in public - this can be avoided. Still, theft can happen to anyone even when they are being careful. So, it's great to see that the additional action that Costa Rica is taking (as mentioned in points 5 & 6) is having the desired effect. - Tourism rose by 11.5%
This is a great statistic, and proof that Costa Rica's tourism industry is just continuing with the growth that it has been seeing for the past 10 years. - Costa Rica welcomed 1.9 million tourists.
Here's an interesting thought - Costa Rica's population is around 4 million people (estimated as of July 2007). Continuing with the same growth, next years tourists that arrive in Costa Rica will total just over half of the entire population of Costa Rica. - Tourism revenue was $1.9 billion, up $300 million from last year.
That almost a 16% increase! - 100 new ICT (Tourism Board) officers added.
These "tourism police officers" work in conjunction with the local law enforcement to keep the public - including tourists - safe. They focus on issues that affect tourists. As we saw in the first point, they seem to be working since the crime rate is down. - The popular tourist town of Jaco has dedicated $800,000 to hire more police next year.
With the positive results being seen with the increase of the ICT officers, the progressive tourist town of Jaco is beefing up their police force as their town continues to grow.
Okay - Why You SHOULD Care
Because of this, it presents numerous opportunities for a wide variety of individuals.
Because there is a shortage of accomodations for tourists, numerous investors are looking to buy real estate to rent out to tourists. In many cases, the numbers suggest that real estate investors can receive a positive cash flow with a minimal down payment.
Real estate agents and other real estate professionals should also find all of this information interesting, as the increase in tourist visits to Costa Rica should translate to an increase in the number of people looking to buy real estate there. This will obviously bode well for real estate agents in Costa Rica, but agents in North America or other countries could benefit as well from this trend.
With all the tourists and real estate development comes a needs for businesses and services to support the growing industry. Though residential real estate development has kept up a steady pace, there are holes in commercial real estate development offering numerous opportunities for developers, entrepreneurs, investors, and retailers.
The improvement in the crime rate is fantastic to see, mainly because it shows that Costa Rica is dedicated to making its country a safe one - one of the most important concerns for tourists, investors, and those considering Costa Rica for a retirement spot.
And of course, with the continued increase in Costa Rica's tourism, there is a growing need for travel professionals. More travel companies are coming on the scene that specialize in Costa Rica travel to address the obvious need.
Some Great Costa Rica Reads
My Costa Rica Reading Picks
Moon Living Abroad in Costa Rica (Living Abroad)
I HIGHLY recommend this book if you are considering moving, retiring, investing, or starting a business in Costa Rica - even if you don't plan on living there!
Amazon Price: $13.57 (as of 10/07/2008)
Guide to Costa Rican Spanish
Spanish is the national language of Costa Rica, though the majority of Costa Ricans do speak English as well.
Amazon Price: $9.95 (as of 10/07/2008)
Costa Rica - Culture Smart!: a quick guide to customs and etiquette (Culture Smart!)
Amazon Price: $9.95 (as of 10/07/2008)
The Surfer's Guide to Costa Rica & SW Nicaragua
A must-have for all surfers visiting Costa Rica!
Amazon Price: $21.95 (as of 10/07/2008)
Get Me to Costa Rica - NOW
