As the high season ramps up, Costa Rica is facing a growing crisis: the national currency — the colón — has surged against the U.S. dollar, making travel increasingly costly for tourists and squeezing local hotels and tour operators.
Dollar Hits 20-Year Low — And It’s Bad News for Visitors
On December 6, 2025, the Central Bank of Costa Rica reported the dollar exchange rate at ₡488–₡490 — the weakest level since 2005. Over the past three years, the colón has appreciated nearly 27%, climbing from levels above ₡640 per dollar in mid-2022.
For travelers from the U.S. or Europe, this means that every dollar buys far fewer colones — raising the local-currency cost of accommodation, food, tours, and transport. A hotel night or jungle tour booked in colones may now feel significantly pricier once converted back to dollars or euros.
Local Industry Voices Concern — And Warn of Fallout
The currency hit isn’t just hurting tourists. According to the country’s main tourism body, CANATUR, many tourism businesses are micro, small or medium enterprises, and they’re feeling the pressure. “This creates a financial gap that threatens stability,” said CANATUR’s executive director Shirley Calvo.
Because operating costs — staff wages, utilities, maintenance, supplies — are paid in colones while revenues come in dollars, the margin squeeze is steep. The result? Some operators are raising prices, others may scale back services, and some could even shutter entirely if the situation continues.
The hotel sector echoes the concern. The Costa Rican Chamber of Hotels says the rate collapse hits margins at a critical moment — just as demand typically peaks for beaches, national parks, and holiday travel.
Costa Rica Loses Its Price Edge—Tourists Look Elsewhere
Travel-industry analysts warn that Costa Rica is losing its competitive advantage against regional rivals such as Mexico, Panama, Colombia or the Dominican Republic — where exchange-rate conditions remain more favorable.
Some early signs are already visible: air arrivals between January and August 2025 dropped by 2.1% compared with 2024. For U.S. tourists — who make up a large share of visitors — hesitancy and shrinking purchasing power are cited as major reasons.
What It Means for 2025–2026 Travel Season
With the colón likely to stay strong unless monetary policy shifts happen, travelers should expect higher prices across Costa Rica, even compared to previous “expensive” seasons. If you’re a traveler: budget more, book ahead, watch exchange rates — or consider alternate destinations in Central America or the Caribbean.
For tour operators and hoteliers — the message is urgent: many are calling on authorities to consider policy measures to ease the burden and safeguard a sector that supports thousands of jobs from San José to coastal and rainforest regions
