Costa Rica Market Research

The Costa Rica market research is a comprehensive study on the various sectors of the country and every fact and detail is extensively validated. Currently, one of the primary sectors of Costa Rica which earns them the most r... view more

Costa Rica Market Research

The Costa Rica market research is a comprehensive study on the various sectors of the country and every fact and detail is extensively validated. Currently, one of the primary sectors of Costa Rica which earns them the most revenue would be the tourism sector. It gets its tourists from the Americas primarily. The three nationalities which come down to Costa Rica would be from USA, Nicaragua and Canada. In 2006, the number of tourists who came down to Costa Rica was 1.72mn which dramatically rose to 2.05mn in 2008 but fell again to 1.93mn by the end of 2009. But according to the research, the numbers state that the tourism industry is going to pick up again and there would be more than the number of tourists in 2010 than in 2009. Apart from this, the number of tourists is estimated to increase by 8% every year till the forecast period finishes viz. 2010-2014. Also, the sector where Costa Rica can grow further is health tourism. There are already a huge number of people who treat Costa Rica as a medical destination and the numbers can grow even more by improving the medical infrastructure and facilities. One of the major competitions that Costa Rica has in this field is Puerto Rico. All of these places compete for the millions of Americans who travel all through the year for receiving medical assistance.

One other aspect which Costa Rica is trying to improve is retirement homes. This will help keep the number of visitors up which will profit the revenue generation of the country. The primary target for Costa Rica here is the North American pensioners and they are making lucrative deals which will entice people to visit it. They are doing away with residence permits for those who are in good health so that people are attracted to the place. The retirement homes are being handled by the tourism industry of Costa Rica. They are offering tax exemptions on real estate and vehicles to attract people towards this option. In furtherance of this, there have been eight locations identified for making retirement homes. These places are chosen on the basis of being in close proximity to hospitals, natural beauty places and tourist attractions. Another aspect of the tourism industry which draws huge crowds to Costa Rica is its spas and getaways. Some of the places which many tourists target when they go to Costa Rica are the hot springs near Arenal Volcano, the beaches of the Nicoya Peninsula, and the Central Valley Region.

Realizing the importance of tourism to revenue generation, the public as well as private banks have been ready to invest funds to facilitate better infrastructure. This will also help in bettering trade relations between various countries and Costa Rica.