The eco-luxury original: record arrivals, a record colón, and a deliberate pivot from counting tourists to monetising them — Papagayo sets the rate.
Share of international arrivals (ICT / OECD)
Source: Instituto Costarricense de Turismo (ICT) · Verified September 2026
integrated luxury · Four Seasons, Andaz, Nekajui (Ritz-Carlton Reserve)
branded flags · Waldorf Astoria Punta Cacique, JW Marriott Costa Elena (Sep 2026)
eco-lodge spine · Nayara, originary eco-luxury
The full Costa Rica Market Brief is in production. These are the desk notes shaping it.
The currency is up 15–20% vs the dollar since 2022 — demand is at record highs while dollar margins compress; June 2026 printed the first arrival dip.
SJO handles ~66% of air arrivals (city, business, circuits); LIR/Guanacaste is the resort gateway growing twice as fast.
ICT strategy pivots to spend per visitor: eco-luxury, wellness, branded residences — growth without adding bodies to strained airports and parks.
2.94M visitors, a record Q1 2026 — and a colón up 15–20% since 2022 squeezing dollar margins. Who comes, where they stay, and the ICT’s pivot from volume to value.
Read the brief →26 projects, ~1,453 rooms, $736.7M — boutique scale at luxury prices: Waldorf Astoria open, JW Marriott and Four Seasons in 2026, St. Regis signed, all gravity on Papagayo.
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