Sep 21, 2026
By Fernando Campos, MBA
Managing Partner – EAS LATAM
Cumulative data through July published by the Costa Rican Tourism Board (ICT) points to a highly dynamic environment for the sector: Costa Rica welcomed 2,001,660 international tourists through all ports of entry, a 6.4% increase over the same period in 2025. Air arrivals alone totaled 1,853,430 visitors, representing 7.0% growth.
This is a positive sign for tourism, but it is not, by itself, a measure of hotel performance. The figure counts international overnight visitors and excludes residents, cruise passengers, and certain other groups. It does not show how many hotel nights they purchased, what rate they paid, which booking channel they used, or how much margin their stays generated.
Positive Growth, but Not Across the Board
The cumulative national figure is positive, although monthly growth slowed after the first quarter. Arrivals through all ports of entry increased 12.9% year over year in March, 1.3% in April, and 3.5% in May; they declined 0.8% in June before rising 2.3% in July. The cumulative 6.4% increase should therefore be considered alongside the latest monthly trend rather than interpreted as uniform expansion throughout the year.
Source: EAS LATAM analysis based on official data from the ICT and the General Directorate of Immigration. Changes are rounded to one decimal place.
The regional difference is significant. Guanacaste Airport recorded growth of approximately 13.3%, while Juan Santamaría International Airport grew by about 3.6%. This does not automatically mean that every hotel in Guanacaste grew at the same rate, but it does confirm that demand is not distributed evenly.
Costa Rica Versus Latin America: Volume and Revenue Are Not the Same
The country comparison uses 2024, the latest year for which the most recent edition of UN Tourism’s International Tourism Highlights provides complete and consistent destination-level figures. January–July 2026 data is used to describe current conditions in Costa Rica, but it is not combined with monthly statistics from other countries because their publication schedules and definitions are not consistent.
Chart 1. Total international tourism receipts in ten selected Latin American destinations.
Source: EAS LATAM analysis based on UN Tourism data, International Tourism Highlights, 2025 Edition. Current US dollars; 2024 data is provisional.
The regional ranking becomes clearer when measured in dollars. In 2024, Mexico led with US$32.956 billion, followed by the Dominican Republic with US$10.972 billion and Colombia with US$8.699 billion. Costa Rica generated US$5.453 billion and ranked sixth among the ten selected destinations.
Chart 2. International arrivals in ten selected Latin American destinations, with 2019 as the pre-pandemic benchmark.
Source: EAS LATAM analysis based on UN Tourism data, International Tourism Highlights, 2025 Edition. 2024 data is provisional.
More Tourists Do Not Automatically Mean Higher Profits
Between a tourist’s arrival in a country and a hotel’s financial results lie many visitor decisions, including the type of lodging selected, length of stay, purchases of ancillary services, and booking channel used.
National market figures therefore serve only as a reference point for overall demand. To measure profitable performance, each property must assess its occupancy, rate, and profit metrics against its own budget, prior periods, and available capacity, while supporting that opportunity with commercial strategy and operational control.
Four Indicators for Translating Demand Into Results
A useful framework for connecting tourism activity to a hotel’s financial performance is USALI (Uniform System of Accounts for the Lodging Industry), which provides a recommended structure for analyzing operations by department and capacity:
Occupancy: the percentage of available rooms sold.
ADR: the average daily rate achieved for rooms sold.
RevPAR: room revenue per available room; it combines occupancy and rate.
GOPPAR: gross operating profit per available room; it incorporates the effect of operating costs.
If arrivals are rising but hotel occupancy is not, management should review the property’s target market, distribution, and positioning. If occupancy and RevPAR increase while GOPPAR remains flat or declines, the additional demand may be absorbed by commissions, payroll, laundry, food, utilities, or other costs. Does your hotel truly know where it makes—and loses—money?
What Hotels Should Review During the Monthly Close
The August report provides a useful benchmark for the budget and year-end 2026 projections. However, the analysis must move from national figures to the property’s own performance. At a minimum, management should review:
Results versus budget and prior year: occupancy, ADR, RevPAR, total revenue, and GOPPAR.
Channel mix: direct sales, online platforms, wholesalers, groups, and corporate business, including associated commissions.
Departmental profitability: rooms, food and beverage, spa, events, and other services.
Cost per occupied room: payroll, amenities, laundry, utilities, maintenance, and housekeeping.
Quality of stay: average length of stay, ancillary spend per guest, and repeat business.
Cash flow and currency: separate operating performance from foreign-exchange effects and payment terms.
For properties that earn most of their revenue in U.S. dollars but incur significant costs in Costa Rican colones, this distinction is especially useful, as is clearly identifying the functional currency. To compare the current environment with previous trends, hotels should also consider the outlook for tourism and air connectivity in Costa Rica.
The latest ICT update offers a positive signal: Costa Rica welcomed more than two million tourists through July, air arrivals increased 7.0%, and Guanacaste outpaced the national average. It also shows that growth has moderated in recent months and remains uneven across regions.
The Latin American comparison adds another dimension: Costa Rica does not compete with Mexico or the Dominican Republic on volume, but its receipts per visitor are relatively high. For a hotel, the right question remains how much of that demand it captured, at what rate, through which channel, and at what margin. When national statistics are connected to occupancy, RevPAR, GOPPAR, costs, and cash flow, tourism growth becomes more than a headline—it becomes decision-useful information.
Bibliography
Costa Rican Tourism Board (ICT). International Tourist Arrivals, January–July 2026. Updated August 17, 2026. Primary source: General Directorate of Immigration.
World Tourism Organization (UN Tourism). International Tourism Highlights, 2025 Edition. Destination-level arrivals and receipts tables for 2019–2024; 2024 data is provisional and was compiled as of January 2026.
Hospitality Financial and Technology Professionals (HFTP). USALI 12th Revised Edition: Overview of Selected Changes and Guidance.
AHLA, HFTP, and Global Finance Committee. Official announcement of the 12th revised edition of USALI. July 11, 2024.