Costa Rican Tourism Retreats Due to Dollar Drop, Pressuring Central Bank to Intervene in Exchange Rate
Costa Rica's tourism is losing competitiveness amid the dollar's fall and the Colón's strengthening. Sector entrepreneurs warn of a slowdown in visitor arrivals, reduced employment, and pressure on SMEs, while urging the Central Bank to intervene to prevent further deterioration of one of the country's main income sources.
TL;DR
- Canatur has asked the Central Bank of Costa Rica to intervene to stop the dollar's fall and the Colón's appreciation.
- This trend is reducing tourism competitiveness and slowing its growth.
- International tourist arrivals grew only 1% in 2025, significantly lower than regional competitors.
- The tourism sector is experiencing a decline in employment, with occupied tourism jobs falling 9% between 2024 and 2025.
- Businesses, especially SMEs earning in dollars and paying in colones, face reduced margins and investment limitations.
- The strengthening Colón reduces the purchasing power of those earning in dollars, impacting their ability to cover expenses.
- Canatur also requested a reduction in the monetary policy rate and the legal reserve requirement, along with clearer communication on inflation targets.