Airline Tickets: Prices up 18%

Between December 2020 and May 2021, the average cost of airline tickets in Costa Rica increased 18%, a variation that is explained by the increase in fuel prices and the depreciation of the local currency.

Tuesday, June 8, 2021

One of the sectors with the highest contribution to the variation of the Consumer Price Index (CPI) in May was Transportation. According to the National Institute of Statistics and Census (INEC), gasoline, airline tickets and tourist packages abroad were among the main items with the greatest positive effect on the price level.

The official report highlights that during May the prices of airline tickets increased 13% monthly and tour packages abroad 6%.

You may be interested in "Tourism and Travel: Consumer Interests and Preferences"

Nelson Castillo, coordinator of INEC's Price Index Unit, told that in order to establish the increase in air ticket costs, "... air ticket prices for a total of 17 destinations or routes were consulted. These destinations were selected based on information on departures of Costa Ricans to the different destinations and airlines."

Regarding the behavior of the package tour market, Sary Valverde, president of the Costa Rican Association of Travel Agencies (ACAV), explained that "... there is a large number of Costa Rican passengers leaving the country, mainly in the last six weeks there has been a sustained demand, for what we call vacation tourism."

The behavior of the exchange rate is another factor that has influenced the increase in ticket prices. Data from the Central Bank of Costa Rica highlights that between June 8, 2020 and the same date of 2021, the exchange rate went from 583.72 to 621.10 colones per one dollar, which is equivalent to an increase of 6%. See official figures.

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