Costa Rica posts rising tourism figures
Posted by Rebecca Sale on 10 th in Costa Rica property news, DSR, Investment Property on 10th of November 2010From January-May 2008 foreign arrivals to Costa Rica increased 16 percent from the same period in 2007, according to the Ministry of Tourism in San José.
The upswing represented an additional 133,000 foreign visitors over the period, taking the total to 987,000 arrivals.
The US remains the main country of origin, accounting for 54 percent of arrivals, followed by Europe with 17 percent.
The Ministry of Tourism stated that recession in the US had not affected the propensity of high and middle income earners visiting Costa Rica. Nor have increased airline prices dissuaded European travellers.
While the world economics forum has ranked Costa Rica as the number one nation in Latin America in terms of tourism – the second successive year that Costa Rica has occupied top spot.
Costa Rica registered 1.9 million foreign visitors in 2007, generating US$1.92 billion in tourism receipts.
And research from the overseas property specialist, DSR, shows that despite Costa Rica’s semi-mature market, wisely chosen property has plenty of growth potential.
The country’s diverse economy is one of the strongest in Latin America and is likely to continue growing irrespective of global markets – the World Economic Forum has just ranked Costa Rica as the second most favourable Latin American country in terms of trade.
Add to this Costa Rica’s huge tourism industry and property can be expected to grow by more than 15 percent in the coming years, and possibly by as much as 20-25 percent per year for the next three. The large number of tourist arrivals means property is likely to fetch rental yields of 10 percent or more.
DSR offers property only 90 minutes from San Jose’s international airport, on Jaco Beach. Planned by talented designers, the development boasts contemporary architecture inspired by the concepts of tropical minimalism and is one of the few beach front properties in Costa Rica that is fully titled. Due to recent government regulations it is also likely to be the only property on the beach.
