The National Chamber of Tourism pressed the Central Bank of Costa Rica to lower its policy rate as the industry struggles with competitiveness. Canatur sent a letter to bank executives that outlined the risks of inflation remaining outside the tolerance range and a dollar exchange rate that matches levels from more than 20 years ago.
The group described the impact as a silent effect. It does not come as an immediate wave of business closures. Instead, investments, maintenance, hiring, training and certifications get postponed. Layoffs occur gradually. Canatur called for the central bank to lower the policy rate further and return to an expansionary stance. The International Monetary Fund recently made the same recommendation.
The letter also addressed the value of the dollar and the colón’s steady appreciation over the past four years. This situation creates macroeconomic challenges that include low growth, low tax revenue and limited job creation, the letter signed by Canatur President José Martí says.
Canatur compiled statistics that raise concern within the national tourism sector. The association sees them as signs of declining competitiveness. Tourist arrivals in Costa Rica grew by 1 percent in 2025 compared to 2024. Other countries posted much higher growth rates. Panama reported a 29 percent increase, the Dominican Republic 35 percent, Guatemala 44 percent, Colombia 50 percent and El Salvador 92 percent.
Growth in visitor arrivals stayed concentrated among guests who stay at the most expensive hotels and use higher-end services. Arrivals at Guanacaste Airport grew by 51 percent. Those at Juan Santamaría Airport decreased by 2 percent between 2019 and 2025. Ninety percent of industry players report cash flow pressures when they receive payments in dollars for prices agreed months in advance. Employment in the tourism sector fell by 9 percent between 2024 and 2025.
Failing to act at this time will unnecessarily prolong the decline in economic activity, exacerbate job losses and further weaken the country’s competitiveness, Canatur said.
