Costa Rica - Tourism Market by Type, Service and Distribution Channel - Forecast and Analysis - 2024-2028

Published: Dec 2023

Pages: 134

SKU: IRTNTR76955

Snapshot

Costa Rica Tourism Market Forecast 2024-2028

The Costa Rica Tourism Market size is forecast to increase by USD 1.34 billion, at a CAGR of 5.76% between 2023 and 2028. Several factors play a crucial role in the market's growth, such as the ecotourism and sustainability of Costa Rica, the increase in the number of international tourists arriving in Costa Rica, and wellness and relaxation services in Costa Rica. This market research and growth report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.

What will be the size of the Costa Rica Tourism Market During the Forecast Period?

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Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Drivers

Ecotourism and sustainability of Costa Rica is notably driving the market. Ecotourism and sustainability have emerged as significant drivers in the market. With its rich natural reserves, biodiversity, and commitment to environmental preservation, the region has become a sought-after destination for eco-conscious travelers. One of the key factors contributing to ecotourism in the region is the country's emphasis on preserving its natural resources. The expansion of ecotourism has led to job openings for the local population, fostering inclusive economic prosperity.

Additionally, due to its dedication to promoting ecotourism and sustainability, The region has gained popularity on a global scale and is drawing responsible tourists from all over the world. This has improved the nation's standing as a leader in responsible tourism throughout the world, in addition to increasing earnings. Thus, the ecotourism and sustainability of the region will drive the market during the forecast period.

Key Trends and Analysis

Adventure tourism and active tourism are emerging trends shaping the market. Adventure and active tourism have emerged as prominent trends in the market in recent years. This trend has been largely influenced by the country's diverse natural landscapes, including lush rainforests, towering mountains, picturesque beaches, and breathtaking volcanoes. As a result, the region has become an ideal destination for adrenaline seekers and nature enthusiasts alike.

Moreover, the region has established a strong reputation as a destination for adventure travel through advertising campaigns and participation in international travel trade shows. As a result, there is now more visibility and understanding of the country's natural treasures, drawing tourists from all over the world. Thus, adventure and active tourism will fuel the market during the forecast period.

Market Challenges

High costs and price sensitivity is a significant challenges hindering the market. The high cost and price sensitivity pose significant challenges in the country's tourism market. Despite its natural beauty, rich biodiversity, and welcoming culture, the cost of traveling and vacationing in the region can be considerably high compared to other destinations in the region. This high cost is attributed to various factors such as transportation, accommodation, activities, and food. The region is known for its commitment to sustainable practices, which often come at a premium cost.

However, people may be discouraged from going to this region because they think it will be too expensive or because they can't find cheap travel options. This can limit the country's ability to attract a diverse range of tourists and generate more revenue from this industry. Thus, the high costs and price sensitivity will hamper the market during the forecast period.

Customer Landscape

The market growth and trends research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their expansion strategies.

Market Customer Landscape

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

American Express Co. - The company offers Costa Rica tourism including premium hotel booking, luxury spa, and resort booking through American Express Travel.

The research and growth report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Segmentation

The international segment is estimated to witness significant growth during the forecast period. This region, located in Central America, has emerged as a popular international tourism destination in recent years. With its rich biodiversity, stunning landscapes, and commitment to sustainable ecotourism, the region offers a unique experience to travelers from around the world.

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The international segment was the largest and was valued at USD 3.39 billion in 2018. This market has attracted a diverse range of visitors. Adventure seekers flock to the country for activities like zip-lining, white-water rafting, and surfing. Nature enthusiasts enjoy wildlife spotting, birdwatching, and exploring the region's many nature reserves. Wellness and yoga retreats have also gained popularity, where tourists can indulge in relaxation and rejuvenation amidst the country's serene surroundings. Thus, the market has flourished due to its natural beauty, commitment to sustainability, well-developed infrastructure, and diverse range of activities, which in turn will drive the international segment in the market during the forecast period.

Market Analyst Overview

The Market is undergoing transformation amidst the forces of globalization and digitalization, with the coronavirus pandemic reshaping travel trends. Enhanced mobility and awareness have fueled interest in the country's rich natural environment and diverse attractions, prompting a surge in domestic tourism. In response to the pandemic, strict hygiene conditions and contactless services have been implemented to ensure the safety of travelers. Key infrastructure such as the Juan Santamaría International Airport and Guanacaste International Airport play vital roles in facilitating travel. Organizations like the ICT (Costa Rica Tourism Institute) promote sustainable and responsible tourism, aligning with global interests in environmental conservation. The tourism sector remains a cornerstone of Costa Rica's economy, contributing significantly to various economic sectors while attracting global interest in the country's unparalleled beauty and biodiversity.

Segment Overview

This market analysis and report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.

Type Outlook
- International
- Domestic

Service Outlook
- Sun and beach
- Adventure
- Others

Distribution Channel Outlook
- Offline
- Online

Costa Rica Tourism Market Scope
Report Coverage	Details
Page number	134
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 5.76%
Market Growth 2024-2028	USD 1.34 billion
Market structure	Concentrated
YoY growth 2023-2024(%)	5.62
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	American Express Co., BCD Travel Services BV, Bella Aventura Costa Rica, Booking Holdings Inc., Carlson Inc., Costa Rican Trails, Direct Travel Inc., Expedia Group Inc., Flight Centre Travel Group Ltd., G Adventures, Imagenes Tropicales S.A., Thomas Cook India Ltd., Thrillophilia, and Intrepid Group Pty Ltd.
Market dynamics	Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
Precise estimation of the size of the market size and its contribution of the market in focus to the parent market
Accurate predictions about upcoming trends and changes in consumer behaviour
Market Growth Analysis across Costa Rica
Thorough analysis of the market’s competitive landscape and detailed information about companies
Comprehensive analysis of factors that will challenge the growth of market companies

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Service
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
- Exhibit 07: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 08: Parent market
- Exhibit 09: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 10: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 11: Market segments

3.3 Market size 2023

3.4 Market outlook: Forecast for 2023-2028
- Exhibit 12: Chart on Costa Rica - Market size and forecast 2023-2028 ($ billion)
- Exhibit 13: Data Table on Costa Rica - Market size and forecast 2023-2028 ($ billion)
- Exhibit 14: Chart on Costa Rica: Year-over-year growth 2023-2028 (%)
- Exhibit 15: Data Table on Costa Rica: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Tourism market in Costa Rica 2018 - 2022
- Exhibit 16: Historic Market Size – Data Table on tourism market in costa Rica 2018 - 2022 ($ billion)

4.2 Type Segment Analysis 2018 - 2022
- Exhibit 17: Historic Market Size – Type Segment 2018 - 2022 ($ billion)

4.3 Service Segment Analysis 2018 - 2022
- Exhibit 18: Historic Market Size – Service Segment 2018 - 2022 ($ billion)

4.4 Distribution Channel Segment Analysis 2018 - 2022
- Exhibit 19: Historic Market Size – Distribution Channel Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
- Exhibit 20: Five forces analysis - Comparison between 2023 and 2028

5.2 Bargaining power of buyers
- Exhibit 21: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028

5.3 Bargaining power of suppliers
- Exhibit 22: Bargaining power of suppliers – Impact of key factors in 2023 and 2028

5.4 Threat of new entrants
- Exhibit 23: Threat of new entrants – Impact of key factors in 2023 and 2028

5.5 Threat of substitutes
- Exhibit 24: Threat of substitutes – Impact of key factors in 2023 and 2028

5.6 Threat of rivalry
- Exhibit 25: Threat of rivalry – Impact of key factors in 2023 and 2028

5.7 Market condition
- Exhibit 26: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Type

6.1 Market segments
- Exhibit 27: Chart on Type - Market share 2023-2028 (%)
- Exhibit 28: Data Table on Type - Market share 2023-2028 (%)

6.2 Comparison by Type
- Exhibit 29: Chart on Comparison by Type
- Exhibit 30: Data Table on Comparison by Type

6.3 International - Market size and forecast 2023-2028
- Exhibit 31: Chart on International - Market size and forecast 2023-2028 ($ billion)
- Exhibit 32: Data Table on International - Market size and forecast 2023-2028 ($ billion)
- Exhibit 33: Chart on International - Year-over-year growth 2023-2028 (%)
- Exhibit 34: Data Table on International - Year-over-year growth 2023-2028 (%)

6.4 Domestic - Market size and forecast 2023-2028
- Exhibit 35: Chart on Domestic - Market size and forecast 2023-2028 ($ billion)
- Exhibit 36: Data Table on Domestic - Market size and forecast 2023-2028 ($ billion)
- Exhibit 37: Chart on Domestic - Year-over-year growth 2023-2028 (%)
- Exhibit 38: Data Table on Domestic - Year-over-year growth 2023-2028 (%)

6.5 Market opportunity by Type
- Exhibit 39: Market opportunity by Type ($ billion)
- Exhibit 40: Data Table on Market opportunity by Type ($ billion)

7 Market Segmentation by Service

7.1 Market segments
- Exhibit 41: Chart on Service - Market share 2023-2028 (%)
- Exhibit 42: Data Table on Service - Market share 2023-2028 (%)

7.2 Comparison by Service
- Exhibit 43: Chart on Comparison by Service
- Exhibit 44: Data Table on Comparison by Service

7.3 Sun and beach - Market size and forecast 2023-2028
- Exhibit 45: Chart on Sun and beach - Market size and forecast 2023-2028 ($ billion)
- Exhibit 46: Data Table on Sun and beach - Market size and forecast 2023-2028 ($ billion)
- Exhibit 47: Chart on Sun and beach - Year-over-year growth 2023-2028 (%)
- Exhibit 48: Data Table on Sun and beach - Year-over-year growth 2023-2028 (%)

7.4 Adventure - Market size and forecast 2023-2028
- Exhibit 49: Chart on Adventure - Market size and forecast 2023-2028 ($ billion)
- Exhibit 50: Data Table on Adventure - Market size and forecast 2023-2028 ($ billion)
- Exhibit 51: Chart on Adventure - Year-over-year growth 2023-2028 (%)
- Exhibit 52: Data Table on Adventure - Year-over-year growth 2023-2028 (%)

7.5 Others - Market size and forecast 2023-2028
- Exhibit 53: Chart on Others - Market size and forecast 2023-2028 ($ billion)
- Exhibit 54: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
- Exhibit 55: Chart on Others - Year-over-year growth 2023-2028 (%)
- Exhibit 56: Data Table on Others - Year-over-year growth 2023-2028 (%)

7.6 Market opportunity by Service
- Exhibit 57: Market opportunity by Service ($ billion)
- Exhibit 58: Data Table on Market opportunity by Service ($ billion)

8 Market Segmentation by Distribution Channel

8.1 Market segments
- Exhibit 59: Chart on Distribution Channel - Market share 2023-2028 (%)
- Exhibit 60: Data Table on Distribution Channel - Market share 2023-2028 (%)

8.2 Comparison by Distribution Channel
- Exhibit 61: Chart on Comparison by Distribution Channel
- Exhibit 62: Data Table on Comparison by Distribution Channel

8.3 Offline - Market size and forecast 2023-2028
- Exhibit 63: Chart on Offline - Market size and forecast 2023-2028 ($ billion)
- Exhibit 64: Data Table on Offline - Market size and forecast 2023-2028 ($ billion)
- Exhibit 65: Chart on Offline - Year-over-year growth 2023-2028 (%)
- Exhibit 66: Data Table on Offline - Year-over-year growth 2023-2028 (%)

8.4 Online - Market size and forecast 2023-2028
- Exhibit 67: Chart on Online - Market size and forecast 2023-2028 ($ billion)
- Exhibit 68: Data Table on Online - Market size and forecast 2023-2028 ($ billion)
- Exhibit 69: Chart on Online - Year-over-year growth 2023-2028 (%)
- Exhibit 70: Data Table on Online - Year-over-year growth 2023-2028 (%)

8.5 Market opportunity by Distribution Channel
- Exhibit 71: Market opportunity by Distribution Channel ($ billion)
- Exhibit 72: Data Table on Market opportunity by Distribution Channel ($ billion)

9 Customer Landscape

9.1 Customer landscape overview
- Exhibit 73: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges
- Exhibit 74: Impact of drivers and challenges in 2023 and 2028

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape
- Exhibit 75: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption
- Exhibit 76: Overview on factors of disruption

11.4 Industry risks
- Exhibit 77: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
- Exhibit 78: Vendors covered

12.2 Market positioning of vendors
- Exhibit 79: Matrix on vendor position and classification

12.3 American Express Co.
- Exhibit 80: American Express Co. - Overview
- Exhibit 81: American Express Co. - Business segments
- Exhibit 82: American Express Co. - Key offerings
- Exhibit 83: American Express Co. - Segment focus

12.4 BCD Travel Services BV
- Exhibit 84: BCD Travel Services BV - Overview
- Exhibit 85: BCD Travel Services BV - Product / Service
- Exhibit 86: BCD Travel Services BV - Key news
- Exhibit 87: BCD Travel Services BV - Key offerings

12.5 Bella Aventura Costa Rica
- Exhibit 88: Bella Aventura Costa Rica - Overview
- Exhibit 89: Bella Aventura Costa Rica - Product / Service
- Exhibit 90: Bella Aventura Costa Rica - Key offerings

12.6 Booking Holdings Inc.
- Exhibit 91: Booking Holdings Inc. - Overview
- Exhibit 92: Booking Holdings Inc. - Product / Service
- Exhibit 93: Booking Holdings Inc. - Key offerings

12.7 Carlson Inc.
- Exhibit 94: Carlson Inc. - Overview
- Exhibit 95: Carlson Inc. - Product / Service
- Exhibit 96: Carlson Inc. - Key offerings

12.8 Costa Rican Trails
- Exhibit 97: Costa Rican Trails - Overview
- Exhibit 98: Costa Rican Trails - Product / Service
- Exhibit 99: Costa Rican Trails - Key offerings

12.9 Direct Travel Inc.
- Exhibit 100: Direct Travel Inc. - Overview
- Exhibit 101: Direct Travel Inc. - Product / Service
- Exhibit 102: Direct Travel Inc. - Key offerings

12.10 Expedia Group Inc.
- Exhibit 103: Expedia Group Inc. - Overview
- Exhibit 104: Expedia Group Inc. - Business segments
- Exhibit 105: Expedia Group Inc. - Key offerings
- Exhibit 106: Expedia Group Inc. - Segment focus

12.11 Flight Centre Travel Group Ltd.
- Exhibit 107: Flight Centre Travel Group Ltd. - Overview
- Exhibit 108: Flight Centre Travel Group Ltd. - Product / Service
- Exhibit 109: Flight Centre Travel Group Ltd. - Key offerings

12.12 G Adventures
- Exhibit 110: G Adventures - Overview
- Exhibit 111: G Adventures - Product / Service
- Exhibit 112: G Adventures - Key offerings

12.13 Imagenes Tropicales S.A.
- Exhibit 113: Imagenes Tropicales S.A. - Overview
- Exhibit 114: Imagenes Tropicales S.A. - Product / Service
- Exhibit 115: Imagenes Tropicales S.A. - Key offerings

12.14 Intrepid Group Pty Ltd.
- Exhibit 116: Intrepid Group Pty Ltd. - Overview
- Exhibit 117: Intrepid Group Pty Ltd. - Key offerings

12.15 The Costa Rican Tourism Institute
- Exhibit 118: The Costa Rican Tourism Institute - Overview
- Exhibit 119: The Costa Rican Tourism Institute - Product / Service
- Exhibit 120: The Costa Rican Tourism Institute - Key offerings

12.16 Thomas Cook India Ltd.
- Exhibit 121: Thomas Cook India Ltd. - Overview
- Exhibit 122: Thomas Cook India Ltd. - Business segments
- Exhibit 123: Thomas Cook India Ltd. - Key offerings
- Exhibit 124: Thomas Cook India Ltd. - Segment focus

12.17 Thrillophilia
- Exhibit 125: Thrillophilia - Overview
- Exhibit 126: Thrillophilia - Product / Service
- Exhibit 127: Thrillophilia - Key offerings

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist
- Exhibit 128: Inclusions checklist
- Exhibit 129: Exclusions checklist

13.3 Currency conversion rates for US$
- Exhibit 130: Currency conversion rates for US$

13.4 Research methodology
- Exhibit 131: Research methodology
- Exhibit 132: Validation techniques employed for market sizing
- Exhibit 133: Information sources

13.5 List of abbreviations
- Exhibit 134: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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