Key Market Indicators
The revenue of Costa Rican airlines is projected to fall to approximately $124 million by 2028 from around $136 million in 2023, marking an average annual decline of 1.3%. This decline reflects a broader trend observed since 2013, where the market has decreased by 3% year on year. In 2023, Costa Rica was ranked 29th in the global market, with Slovakia surpassing it with revenues of $136 million. Leading the rankings were Germany, Ireland, and Russia, securing the second, third, and fourth positions, respectively. On the other hand, Costa Rican air passenger traffic is expected to grow modestly. By 2028, the number of air passengers is set to reach over 2.2 million, up from approximately 2.1 million in 2023, with a compound annual growth rate (CAGR) of 1%. Since 1975, the demand for air travel in Costa Rica has grown by an average of 1.4% annually. In the 2023 rankings, Costa Rica stood at the 77th position, with Luxembourg narrowly ahead. The top spots were held by China, India, and Ireland, ranking second, third, and fourth, respectively.
