PROCOMER and ICT seek new investments in tourism infrastructure for Costa Rica

The Promoter of Foreign Trade of Costa Rica (PROCOMER) and the Costa Rican Tourism Institute (ICT) participated in the Hotel Opportunities Latin America (HOLA) event, in Miami; United States, with the aim of attracting new investments in tourism infrastructure for the country.

HOLA is considered the leading conference in the hotel investment industry in Latin America. It took place from April 23 to 25 and brought together leaders from the hotel sector and brands from around the world.

“By surpassing the record for attracting foreign direct investment in 2023, we are motivated to be more competitive when it comes to attracting new investment projects for the country. Our participation in HOLA is of high value for Costa Rica, because thanks to its natural and cultural wealth, it is an ideal destination to establish new tourism infrastructure projects for the country; a great opportunity to bring investment and quality employment opportunities to communities located outside the Greater Metropolitan Area,” commented Laura López, General Manager of PROCOMER.

HOLA focused on the performance and economic prospects of the sector, the current situation of the industry in Central America, capital structuring, brands and forms of management, lifestyle trends in hospitality, among others, attracting the participation of the main investors, owners, developers, executives and financial advisors, with the interest of promoting investment in Latin America.

During the event, different consulting firms and representatives of Costa Rican Chambers of the hotel and tourism sector participated in panels where they presented Costa Rica's value proposition and the country's success stories in terms of tourism infrastructure and experience for visitors.

“Participation in these events together with PROCOMER gives us a unique opportunity to continue strengthening ties of cooperation based on our mutual agreement to attract real estate investments to the country. We hope to continue promoting the great boom that the hotel industry has had. in Costa Rica, generating an increase in the hotel supply and growth in the number of rooms, aligned with the increase in tourist income to the country.” said Hermes Navarro, Head of Investment Attraction of the ICT.

The participation of PROCOMER and the ICT underlines Costa Rica's commitment to promoting economic development through sustainable tourism and attracting investments that boost the country's tourism infrastructure, to generate more opportunities and employment in all regions of the country.

About the Tourism Infrastructure sector:

Currently the country registers 19 new tourism infrastructure projects, which represents the installation of important chains.

These projects cover the boutique and luxury hotel segment, with large investments and high quality in infrastructure and services. The projects are in the construction stage, and will begin operations between 2023-2025.

At the end of the first quarter, an approximate investment of $547.3 million was recorded, contemplating hotel projects that are in the development and construction stage, distributed in five of the seven provinces (Guanacaste, Heredia, San José, Puntarenas and Limón). According to the ICT, this investment represents the creation of around 2,600 direct jobs and the addition of approximately 1,200 rooms to the hotel offering that Costa Rica offers as a tourist and investment destination, hand in hand with the efforts it makes in ICT in the increase in tourist arrivals to the country.