Dollar Exchange at Record Levels means the Perfect Time to Vacation in Costa Rica
Costa Rica may be known as a nature lover’s paradise, but it’s also becoming one of the most desirable countries in the world for U.S. tourists and travelers, thanks to the swelling relative strength of the U.S. Dollar.
In fact, the Costa Rican colón (represented by the symbol “₡ “) fell against the U.S. dollar this week, resulting in the most favorable exchange rate ever. As of May 25 2017, one U.S. dollar was worth 586.36 colones according to official exchange rates.
The strength of the U.S. dollar creates huge opportunities for U.S. travelers, vacationers and expats who have dollars to spend in Costa Rica.
With a steady uptick in tourism, foreign-owned real estate and business, and investment infrastructure in the stable and safe Central American
Even better, most banks, hotels, and good restaurants, etc. will accept U.S. dollars and give colones as change, so pricey exchange fees are easily avoided.
For comparison sake, the U.S. dollar was only worth 157.24 colones in September of 1994 – almost X times less affordable than today’s rate. In August of 2013, the United States dollar was worth approximately 504.5 colones.
What’s more, financial forecasts predict that Costa Rica’s currency could even pass the 600 colón-to-dollar mark, an unprecedented all-time high.
The expanded spending power of U.S. citizens is no negative reflection on the financial health of the country. Quite the opposite – the government-run Central Bank of Costa Rica oversees the
economy of the most progressive and politically stable country in the region. Thanks to that stability, pro-foreign regulations, and a well-educated young workforce, Costa Rica’s economy growing in leaps and bounds.
Costa Rica has also become a prime destination for U.S. expats and retirees, who enjoy the beaches, the climate, the country’s pura vida attitude, and a very reasonable cost of living. Increasingly, U.S. citizens are also opting to host special events like bachelor and bachelorette parties, weddings, and business conferences in Costa Rica due to its affordability and close proximity to just about any major U.S. city.
Now, the American dollar will stretch even further for U.S. citizens in Costa Rica – making it the ideal vacation destination this summer and beyond. Will the U.S. dollar surpass the 600 colón mark in coming days? If that happens, Costa Rica will cement its reputation as one of the most affordable and desirable tourist destinations for U.S. citizens in the world.
Ready to take advantage of the high exchange rate on your dollars? Costa Rica Gurus is happy to help you make the most out of your vacation to paradise! Contact the Gurus at 1-954-495-9300.