Costa Rica Car Rental Market has been driven by Growth in Number of Expatriates, Rise in Urban Population and Growth in Tourism: Ken Research

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“Increase in Tourism and Positioning of Costa Rica as a MICE destination has been driving the growth of the Car Rental Market in Costa Rica.”

The report Titled Costa Rica Car Rental, Leasing, Cab Aggregator and Red Taxi Market Outlook to 2023 –Driven by Inbound and Domestic Tourist Arrivals and Integration of Electric Vehicles in Current Fleet” by Ken Research suggested that the car the rental market in Costa Rica has been growing due to increasing competition amongst the major domestic players. Both the car rental and car leasing market is expected to register a positive CAGR of 3.9% each in terms of revenue during the forecast period 2018-2023E.

Increase in the Number of Flights: Southwest Airlines has expanded its flights to Costa Rica. In 2016, the airlines initiated a direct flight from Los Angeles International Airport (LAX) to Liberia International Airport in Guanacaste (LIR), the door to the eco-tourism sector of Costa Rica. The influx of a higher number of people has positively contributed to car rental business owing to increased demand for rental cars for business trips, travel purpose and on/off airport travel.

Increase in Competition amongst Domestic Players: The players in the market have been competing against each other by giving better promotional offers, loyalty and reward points, higher discounts and other additional benefits in order to reach and acquire more customers. The intense competition between the players had a positive impact on the Car Rental market in Costa Rica.

Corporate Leasing:  Market has witnessed increased demand for leased vehicles by corporate entities, as leasing provides many benefits including low monthly payments, tax benefits, the prestige of having new cars after every few years and no maintenance fees. Corporate Entities are also able to ensure employee satisfaction by giving them these cars as perquisites.

Challenging Driving Conditions: The market is hampered by the condition of roads in the country. The roads of Costa Rica are curvy and windy, making driving difficult, especially, for overseas travelers. People struggle to locate their destinations due to the lack of availability of proper sign boards. Also, people face the issue of long traffic – jams on the road.

Key Segments Covered:-

Car Rental Market

Type of Car

SUV/AUV

Economy

Premium

Purpose of Hire

Leisure

Business

Insurance Replacement

Region

San Jose

Heredia

Liberia

Puerto Limon

Others

Cab Aggregator Market

Region

San Jose

Heredia

Liberia

Puerto Limon

Others

Car Leasing Market

Type of Car

SUV/AUV

Economy

Duration of Lease

First Year

Second Year

Third Year and More

Red Taxi – Fleet Size, Number of Drivers

Motorcycle Rental – Fleet Size and Major Players

Key Target Audience

Car Rental Companies

Cab Aggregator Companies

Car Leasing Companies

Automobile Companies

Tourism Companies

Corporate Sector

Hospitality Sector

Time Period Captured in the Report:-

Historical Period: 2013-2018

Forecast Period: 2018-2023E

Companies Covered:-

Adobe Rent a Car

National Car Rental

Enterprise Car Rental

Alamo Car Rental

Budget Car Rental/Centriz

Dollar Rent a Car

Thrifty Car Rental

Vamos Rent a Car

Toyota Car Rental

Solid Car Rental

Europcar Rental

Hertz Rent a Car

Economy Rent a Car

Sixt Rent a Car

Poas Car Rental

Avanti Car Rental

Mapache Rent a Car

Avis Car Rental

T.T Tricolor Car Rental

Wild Rider

Fast Rent a Car

Keywords:-

Costa Rica Car Leasing Market

Premium Car Rental Market Costa Rica

SUV/AUV Car Rental Market Costa Rica

Economy Car Rental Market Costa Rica

Car Rental Companies Costa Rica

Cab Aggregator Companies Costa Rica

Car Rentals in Costa Rica

Costa Rica Red Taxi Market

Costa Rica Motorcycle Rental Market

Major Companies in Costa Rica Car Rental

Costa Rica Car Rental Competition Scenario

Uber Company Profile Costa Rica

Adobe Company Profile Costa Rica

Costa Rica Cab Aggregator Market

For More Information, Refer To Below Link:-

Costa Rica Car Rental, Leasing, Cab Aggregator and Red Taxi Market Outlook to 2023 – Driven By Inbound and Domestic Tourist Arrivals and Integration Of Electric Vehicles In Current Fleet

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Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com

+91-9015378249

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