Why Costa Rica Real Estate is Your Best Investment Bet in 2023

Investing in real estate is one of the most solid and attractive options for those seeking long-term investment opportunities. In this article, we will explore why Costa Rica stands out as a real estate investment destination in 2023, supported by recent data showing significant growth in the country's tourism and economy.

1. The Tourism Boom

Costa Rica has experienced a true tourism boom in the first half of 2023, receiving a total of 1.3 million tourists, representing a 19.4% increase compared to the same period in 2022. The United States, as the primary source of tourists, registered an impressive 14.9% increase. This growth is a solid indicator of tourism demand in the country.

2. Focus on Air Travel

Starting in July 2023, the Costa Rican Tourism Institute (ICT) has decided to focus its measurements on air travel, as 90% of tourists visiting Costa Rica choose this option. This signals the importance the country places on transportation efficiency and connectivity, directly benefiting the real estate sector, especially in areas near airports.

3. Growth in International Arrivals

Arrivals from North America experienced a 21% growth in the first half of 2023 compared to the previous year. Data breakdown shows that the United States, Canada, and Mexico are the primary source countries, providing opportunities for real estate investors looking to meet the growing demand for accommodation and vacation properties.

4. Expanding European Markets

Costa Rica not only attracts tourists from North America but also from Europe. Arrivals from Europe increased by 9.3% in the first half of 2023. Key markets like France, the United Kingdom, Germany, and the Netherlands have shown sustained growth, indicating a growing interest in the country as a tourist destination.

5. Increasing Average Spending

The average spending of tourists visiting Costa Rica increased in 2022, reaching $1,590, with an average stay of 13.5 nights. These figures surpass those of competing destinations, reflecting a greater interest in experiencing and enjoying what Costa Rica has to offer.

6. Reliability in Airlines

Airlines have scheduled a significant number of seats to Costa Rica in 2023, surpassing pre-pandemic figures. This increase in air capacity demonstrates airlines' confidence in the destination, translating into a steady flow of tourists seeking accommodation, whether temporary or long-term.

7. Costa Ricans' Travel Abroad

Not only is foreign tourism booming, but Costa Ricans have also increased their international travel. This is an additional indicator of the country's economic strength and citizens' confidence in their financial situation, which can influence the demand for residential and investment properties in Costa Rica.

8. Job Generation

Tourism has proven to be a strong economic driver in Costa Rica, generating 158,810 direct jobs in the first quarter of 2023. Sectors like accommodation and transportation have experienced significant recovery compared to the previous year, boosting demand for housing and rentals in the region.

9. Tourist Satisfaction

Tourist satisfaction is a key indicator for the continued success of any tourist destination. According to the MABRIAN research source, the perception satisfaction index with the destination stands at an impressive 81.2 among tourists who visited Costa Rica in 2023. This high satisfaction supports the country's reputation and its attractiveness as a destination for real estate investors.

In summary, Costa Rica presents itself as a highly attractive real estate investment destination in 2023. The tourism boom, the focus on air travel, growth in arrivals from key markets, and airline confidence support this perspective. Investing in real estate in Costa Rica offers long-term growth potential backed by strong economic fundamentals and constantly expanding tourism demand.