The northwestern Guanacaste province is likely to receive more than $2 billion from tourism projects during the next three years, thanks to 35 projects including hotels and luxury residences, according to the weekly El Financiero.
The money is expected to come from projects that opened in the past two years or will in the next three.
Additionally, during the next 20 years, at least 28 hotels and 9,700 homes are expected to go up in Guanacaste, many of which will be marketed toward retired U.S. citizens.
Investors in these projects are mostly from the United States, but they also come from Costa Rica, Germany, South Africa, Japan, Mexico and Italy.
At least 347 hotels with a total of 6,724 rooms already exist in Guanacaste. An additional 947,973 square meters are under construction this year in the province, marking a 66% growth over construction in the region last year. Chains including Four Seasons, Holiday Inn, JW Marriott and Hyatt are among those that recently opened or are planning to open soon.