Costa Rica continues to solidify its position as a premier destination for tourism investment, recently unveiling a comprehensive guide designed to attract investors from around the globe. This initiative, a collaborative effort between the United Nations Tourism Office (UN Tourism), the Development Bank of Latin America and the Caribbean (CAF), the Foreign Trade Promotion Agency (Procomer), and the Costa Rican Tourism Institute (ICT), highlights the nation’s unique strengths and opportunities for sustainable tourism development.
Why Invest in Costa Rica’s Tourism Sector?
The guide presents a compelling case for choosing Costa Rica, emphasizing the country’s commitment to sustainability and its robust investment environment. Here’s a closer look at the key reasons outlined in the document:
Exceptional Biodiversity
Costa Rica’s incredible biodiversity is a major draw for tourists and investors alike. Despite covering only 0.03% of the Earth’s surface, it is home to approximately 6% of the world’s biodiversity, encompassing over 500,000 species. With nearly 60% of the country covered in forests, investors have ample opportunities to develop eco-tourism products that cater to a wide range of visitors year-round. This focus on preserving natural resources aligns with the growing global demand for responsible and sustainable travel experiences. Imagine offering your guests guided hikes through rainforests teeming with exotic birds, or partnering with local communities to showcase sustainable farming practices. The possibilities are endless.
A Model for Sustainable Development and Tourism
Costa Rica has long been recognized as a leader in sustainable development, striving to harmonize tourism with nature. This includes initiatives like access to clean drinking water, a commitment to renewable energy sources, and the “Essential Costa Rica” country brand, which promotes the nation’s values of sustainability, innovation, and social progress. The country consistently strives for practices that minimize environmental impact, conserve natural resources, and benefit local communities. This commitment makes Costa Rica a particularly attractive destination for investors seeking to combine profitability with positive social and environmental impact.
Highly Qualified Human Talent
A skilled and educated workforce is essential for a thriving tourism industry. Costa Rica boasts a high literacy rate of around 97.8%, one of the highest in Latin America, reflecting the nation’s investment in education and human capital. The country also has a young and capable workforce known for its warmth, hospitality, and dedication to quality service. Furthermore, the regulatory framework supports academic autonomy, fostering innovation and excellence in tourism-related fields. Numerous tourism training programs, offered by institutions such as the National Learning Institute (INA), the State Distance Education University (UNED), and the University of Costa Rica (UCR), ensure a steady supply of qualified professionals for the tourism sector.
Competitive Tax Incentives
Costa Rica offers a range of attractive fiscal incentives designed to encourage investment in the tourism sector.
Some of these key incentives include:
- Tourism Development Incentives Law (Law No. 6990): Provides benefits for tourism projects that meet specific criteria.
- Law Regulating the Development and Execution of the Gulf of Papagayo Tourism Project (Law No. 6758): Focuses on promoting development in this key tourism region.
- Free Trade Zone Regime: Offers tax advantages for companies operating within designated free trade zones.
- Law to Strengthen Territorial Competitiveness: Aims to boost competitiveness in various regions through targeted incentives.
The Single Window for Investment (VUI) streamlines the investment process, and technical assistance and financing agreements further support investors. These measures create a supportive environment for tourism development, making Costa Rica a fiscally attractive option.
Political Climate and Stable Economic Environment
Political and macroeconomic stability are crucial for any investment decision, and Costa Rica excels in this area. The country’s strong rule of law, regulatory quality, government efficiency, and control of corruption contribute to a safe and reliable investment climate. Costa Rica’s high human development index and resilience in the face of economic challenges further underscore its stability. As a member of the World Trade Organization (WTO) and the Organisation for Economic Co-operation and Development (OECD), Costa Rica adheres to international standards of governance and economic policy.
“Come, Grow With Us”
During the launch event, Minister of Tourism William Rodríguez emphasized the importance of focusing on the broader impact of tourism beyond just arrival numbers and revenue figures. He encouraged potential investors to view tourism in Costa Rica as a purposeful endeavor, deeply rooted in social and environmental values. “Tourism in Costa Rica is purposeful…it’s a highly social activity,” Rodríguez stated. “Come, grow with us, come, enter an economic world.” He noted that while 2024 was a record year, the country is looking ahead to sustainable growth for the years to come.
Ready to explore the investment opportunities in Costa Rica’s thriving tourism sector? From eco-lodges nestled in the rainforest to sustainable resorts along the coast, the possibilities are endless. Learn more about planning your visit to this beautiful country and discover why Costa Rica is the perfect place to invest in sustainable tourism.
