Devaluation Complicates Tourism in Costa Rica

©image: Magnus Bråth

The tourism industry in Costa Rica, which represents 7% of the GDP, receives most of its revenue in Dollars and pays most expenses in Colones. This puts them as one of the sectors most affected by the sharp appreciation of the Colon.

A year ago, if a tourist paid $ 1,500 in a hotel for a stay, the establishment received C 862,500 Colones to cover their costs. That same tourist generates today C 757,500 Colones, a decrease of about $ 200, explains in an article the Tico Times.

Juan Carlos Ramos, president of the National Chamber of Tourism, said many hotels are in a precarious situation and may have to close their doors if the situation does not improve.

Source: ticotimes.net

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