Nov 10, 2025
EAS LATAM | Financial Advisory Division
According to official data from the Costa Rican Tourism Board (ICT), between January and June 2025, 1,489,008 tourists entered the country by air—representing a –2.8% year-over-year variation compared to the same period in 2024.
The ICT expects to close the year with a net increase of approximately 1.7%, equivalent to 2.66 to 2.87 million air arrivals, driven by the opening of 13 new international routes and a record US $43 million investment in global tourism promotion, fully funded and managed by the ICT.
Despite the slight contraction in arrivals, Costa Rica continues to attract high-value travelers.
Average visitor spending reached US $2,062 in 2024, the highest in Central America, confirming tourism as one of the country’s top sources of foreign income.
However, the Costa Rican Chamber of Hotels (CCH) has highlighted a dual challenge: the appreciation of the colón against the U.S. dollar has reduced local-currency revenues, while operating costs have continued to rise.
Air Connectivity: Expansion and Rebalancing
Between July and October 2025, Costa Rica strengthened its air connectivity with key source markets.
Viva Aerobus (Mexico) will inaugurate the Monterrey–San José route on October 30, operating twice weekly.
In the European segment, British Airways reactivated its London–San José service (three weekly flights from October 26) and KLM resumed Amsterdam–San José (five weekly flights from October 28).
Air Transat (Canada) reinstated its Montreal–San José and Toronto–San José links, gradually increasing frequency toward year-end.
In Guanacaste, the Daniel Oduber Quirós International Airport (Liberia) continues to consolidate as a growth hub:
Porter Airlines (Canada) will operate seasonal routes Liberia–Toronto and Liberia–Ottawa, while
WestJet will launch new connections to Vancouver and Winnipeg in December.
These developments reflect sustained confidence from the North American market in Costa Rica’s sustainable-tourism value proposition.
Nonetheless, the second half of 2025 has also brought route rationalizations.
Key adjustments include:
· Volaris (Mexico) suspended San José–Tulum on August 21 due to low load factors;
· Avianca (Colombia) discontinued San José–San Juan (Puerto Rico) and San José–Managua effective October;
· GOL Linhas Aéreas (Brazil) will suspend San José–São Paulo as of November 29 after one year of service.
· Wingo (Colombia) will cease Bogotá–San José on October 28; and
· American Airlines (U.S.) reduced Miami–San José frequencies from four to three weekly flights as of April 2025.
Both the ICT and AERIS (operator of the Juan Santamaría International Airport) noted that these decisions reflect airlines’ strategic adjustments rather than a decline in destination appeal.
According to Hermes Navarro, ICT’s Head of Air Connectivity, “it is normal for airlines to test routes and withdraw those that do not achieve the expected occupancy levels. The current focus is on strengthening frequencies and optimizing existing routes.”
Outlook for the 2026 High Season
The ICT anticipates a gradual recovery for the 2026 high season, supported by expanded connectivity with North America and Europe, along with renewed participation from traditional carriers.
The CCH projects 85–87% occupancy in beach resorts during December 2025–January 2026, while mountain lodges could reach around 80%.
From a macroeconomic standpoint, the Central Bank of Costa Rica (BCCR) forecasts real GDP growth of 3.3% for 2026, with inflation near 3% and an exchange rate between ₡ 500 and ₡ 504 per U.S. dollar.
This scenario supports sector stability, although risks remain—stemming from global economic slowdown, geopolitical tensions, and the country’s domestic security concerns, increasingly noted by the private sector as a variable affecting destination perception.
Institutional Perspectives and Sector Views
The Minister of Tourism has stressed the importance of transparent communication:
“It may not be what many expect to hear, but these are the facts, and as a serious country we must address them realistically.”
Meanwhile, the AERIS CEO emphasized that new routes “strengthen Costa Rica’s air connectivity and reinforce its position as a leading destination in the region.”
From the business side, the CCH President reiterated that the appreciation of the colón affects hotel profitability and reinvestment capacity.
The Chamber has called for exchange-rate stabilization measures and more targeted marketing in high-spending markets—particularly the United States and Canada.
Opportunities and Strategic Recommendations
Costa Rica retains strong competitive advantages within the region: a consolidated country brand in sustainability, high visitor spending, and growing international air access.
To maximize these strengths, public- and private-sector collaboration should focus on five strategic priorities:
Market diversification: Reinforce promotion efforts in Europe (U.K., Netherlands, Germany) and North America (U.S., Canada), while capitalizing on emerging demand from South America.
Public-private partnerships: Promote new routes through code-sharing, co-marketing programs, and integrated travel packages (flight + hotel + experience).
Macroeconomic management: Implement mechanisms to preserve competitiveness against the U.S. dollar and reduce exchange-rate volatility.
Innovation and sustainability: Advance tourism projects aligned with eco-tourism, regenerative travel, and digital transformation of the visitor experience.
Human capital development: Strengthen language, hospitality, and sustainability skills across the tourism workforce.
Costa Rica faces a complex year-end scenario but stands on solid fundamentals.
The consolidation of new international routes, stable macroeconomic indicators, and the enduring quality of its tourism offering provide the foundation for measured and sustainable growth in 2026.
The national strategy should remain focused on sustaining market confidence, expanding active connectivity, and ensuring that the recovery continues to be comprehensive, sustainable, and long-term.
Sources:
Instituto Costarricense de Turismo (ICT, 2025): Air arrival data and global marketing plan.
Cámara Costarricense de Hoteles (CCH, 2025): Sector performance and occupancy report.
AERIS (2025): Official communications on route adjustments.
Banco Central de Costa Rica (BCCR, 2025): Macroeconomic Program 2025–2026.
Canatur and media sources: CRHoy, La Nación, AmeliaRueda.com, Travel2Latam, TicosLand.