Costa Rica’s tourism industry is struggling despite an increase in international tourists during the high season due to the exchange rate impact on recovery.
Key points:
– More tourists haven’t fully helped the industry due to the exchange rate, resulting in fewer colones for dollars spent.
– The colón has appreciated by almost 25% against the dollar, causing significant losses for tourism businesses.
– Operating costs have risen while income decreased, making profitability challenging.
– Other countries’ better economic situations may lead tourists to choose different destinations.
– Rising interest rates for pandemic loans add to recovery obstacles.
Efforts to find a solution:
– The tourism industry has engaged with government officials to address the challenges faced by the sector.
– Calls for an agreement to alleviate high interest rates and exchange rate challenges have been made.
Hopes for the future:
– Tourism industry representatives hope for a reversal of the colón’s appreciation for a reasonable exchange rate and increased competitiveness.