Laura Fernández Seizes Congress Majority as Costa Rica Tourism Tops $5.5 Billion
Costa Rica economy under its new government is drawing investor attention as tourism and FDI climb while security fears and a firm colón reshape expat life. The post Laura Fernández Seizes Congress Majority as Costa Rica Tourism Tops $5.5 Billion appeared first on The Rio Times .
Laura Fernández, representing the Sovereign People’s Party, secured a landslide victory in Costa Rica’s presidential election on February 1, 2026. Taking office on May 8, 2026, Fernández’ party achieved a 31-26 seat majority in the Legislative Assembly, granting them control over the country’s unicameral congress. The International Monetary Fund (IMF) confirmed that President-elect Fernández’s policy agenda largely aligned with the existing framework, providing a solid foundation for legislative progress.
Tourism revenue for Costa Rica reached a record US$5.543 billion in 2025, despite a modest 1 percent increase in foreign arrivals compared to 2024. The strong late-year rebound in air arrivals contributed to a record-setting first half of 2026, with 1,605,360 international visitors arriving by air up 7.8 percent from the same period in 2025. North American tourists led the way with a 8.1 percent increase to 1,210,654 visitors, while European arrivals grew by 9.7 percent to 236,462.
Foreign direct investment (FDI) flows surged to a historic US$4,321.6 million in 2024, marking a 14 percent increase from 2023 and surpassing the national development plan’s target by 37 percent. The 2026 national budget aims for a primary surplus of 1 percent of GDP, with IMF projections expecting a primary balance of about 0.9 percent of GDP. The country’s public debt remained below 60 percent of GDP in 2024, allowing for expanded spending capacity while avoiding major fiscal slippage.
The Banco Central de Costa Rica cut its policy rate by 525 basis points between March 2023 and April 2026, bringing the key rate down to 3.25 percent. This reduction was prompted by persistently low inflation, keeping it below the central bank’s 3 percent target. Despite the declining inflation trend, the central bank anticipates a return to its 2-4 percent tolerance band within eight quarters, contingent on global conditions.
For both savers and borrowers, the easing monetary conditions signal more favorable domestic funding scenarios. Costa Rica’s tourism sector, overseen by the Costa Rica Tourism Institute (ICT), continued its recovery, with the first five months of 2026 showing positive growth in air arrivals. While June 2026 saw a slight decline in visitors compared to the previous year, the overall trend indicated sustained positive momentum in the tourism industry.
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