Business tourism, a rising sector for Costa Rica’s economy

Costa Rica has redirected some economic efforts and investments into creating competitive advantages for an innovative environment: business tourism. 27% of the country’s workforce is employed in tourism, around 29.6% of the country’s exports are for the same sector.
 
According to the latest data from the Central Bank, the services sector represents around 40% of Costa Rica’s GDP. Tourism accounts for 20% of it and the main markets are the US, which represents 40% of the travelers, and Europe with almost 400,000 visitors for 2015.
 
Worldwide, Costa Rica sells life experiences, reason why it is number one in terms of nature tourism and number two in adventure trips. With an average stay of 13 days, the country can compete worldwide with any destination.
 
On 2017, the country’s objective is to consolidate its position in these two areas and at the same time strengthen its business tourism with the Conventions Centre, which is a nationwide effort to position the country as a leading destination for MICE(Meetings, Incentives, Conferencing, Exhibitions) tourism.
 
Costa Rica has started to promote its business tourism at international fairs and traveling events. Besides, the country is boosting this type of trips across the entire territory, rather than focusing on specific cities because it will be easier to set visitors in one place.
 
Business tourism is usually about international conventions that bring between 50 and 500 guests to the same event. A number that can easily be accommodated in many areas of the country and not just in the Convention Centre.
 
There is so much potential in the Costa Rican business tourism segment thanks to the fact that it does not have to occur in vacation or low seasons. In addition, MICE tourists spend between USD $200 and $400 per day.
 
Over the last few years, Costa Ricans have boosted their airport infrastructure across the country, a major strategy for the business tourism plan. This has given revenue because it has increased the number of arrivals in regional airports and attracted international airlines. Thus, the tourism sector grew three times faster than the national economy in 2015 turning Costa Rica into the next big destination around the world for MICE tourism.