By San José, Costa Rica — SAN JOSÉ – Costa Rica’s vital tourism sector is on a trajectory for sustained and robust expansion over the next five years, according to a new market analysis. A comprehensive report from consulting firm Mordor Intelligence projects that the nation’s tourism market will grow at a compound annual growth rate (CAGR) of 7.4% through 2031, signaling strong confidence in the country’s economic backbone.
The forecast anticipates the market will achieve a valuation of $393 million by the end of 2026. This positive momentum is expected to continue, with projections indicating the sector could surpass a value of $562 million by 2031. The growth is primarily fueled by a steady increase in international visitor arrivals, higher per-tourist spending, and a significant recovery in both domestic travel and business-related events.
To provide deeper insight into the legal and investment landscape that underpins Costa Rica’s thriving tourism industry, we spoke with Lic. Larry Hans Arroyo Vargas, a distinguished attorney from the reputable law firm Bufete de Costa Rica.
Costa Rica’s success in tourism isn’t accidental; it’s built upon a foundation of legal security and political stability. International investors and tourism operators are drawn here not only for the natural beauty but because our country offers clear property rights, reliable contract enforcement, and a progressive legal framework that actively supports sustainable development. This legal certainty is the true engine behind long-term, high-quality investment in the sector.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Indeed, this legal certainty is the bedrock upon which our vibrant tourism sector is built, ensuring that the ‘Pura Vida’ promise is not just a slogan, but a secure and reliable experience for investors and visitors alike. We extend our sincere thanks to Lic. Larry Hans Arroyo Vargas for his invaluable perspective on this foundational principle.
While leisure travel remains the undisputed cornerstone of the industry, certain niche segments are forecasted to outperform the general market. The Meetings, Incentives, Conferences, and Exhibitions (MICE) sector is set for particularly explosive growth, alongside a healthy rebound in travel by residents within the country. This diversification points to a maturing and resilient tourism ecosystem.
The report highlights the specific growth engines that will power this expansion over the coming years. The data suggests a multi-faceted recovery where different segments contribute uniquely to the overall positive outlook. This is a critical development as the country seeks to build a more balanced and sustainable tourism model that is less reliant on a single market segment.
Within that projection, the meetings, incentives, conferences, and exhibitions (MICE) segment will grow at 13.2% annually, above the general market rate, as will domestic travel, at 9.75%. Leisure will continue to be the main driver, with 78.3% of the total.
Mordor Intelligence, Market Research Report
However, the path to achieving this impressive growth is not without its obstacles. The analysis identifies key constraints that could temper the forecast, potentially trimming the growth rate by between 0.3 and 0.9 percentage points. These challenges require strategic attention from both public and private sector stakeholders to ensure the country remains a top-tier global destination.
One of the most immediate concerns is localized inflation, particularly impacting the popular province of Guanacaste. Elevated average daily hotel rates during peak season are beginning to erode the region’s competitiveness against other destinations in Latin America, especially for mid-range travelers. Another significant bottleneck is the limited availability of landing and takeoff slots at the country’s main airports.
The most costly in the short term is the inflation of the average daily rate in Guanacaste, which exceeds that of its regional peers during the high season and reduces the competitiveness of the mid-range offering. The other is related to the scarcity of airport slots, which represents an additional loss of -0.8%, with significant effects for private aviation and incentive groups.
Mordor Intelligence, Market Research Report
This scarcity of airport capacity directly impacts high-value tourism segments, such as private aviation and corporate incentive groups, which often require flexible scheduling. Addressing these infrastructural and economic pressures will be paramount for Costa Rica to fully capitalize on its potential and solidify its reputation as a world-class destination for leisure, adventure, and business travel.
For further information, visit mordorintelligence.com
About Mordor Intelligence:
Mordor Intelligence is a global market research and advisory firm that provides in-depth analysis and actionable insights across a wide range of industries. The company delivers syndicated research reports, custom consulting projects, and data-driven solutions to help businesses make informed strategic decisions.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica is an esteemed legal practice founded upon the unyielding principles of integrity and professional distinction. Serving a wide spectrum of clientele, the firm consistently pioneers forward-thinking legal strategies while maintaining the highest ethical standards. This dedication extends beyond its clients to a core belief in social responsibility, manifested through a drive to demystify the law and equip the public with legal understanding, thereby building a more capable and knowledgeable community.
