Costa Rica audit: tourism board ad spend up 223%, efficiency halves

Costa Rica's Comptroller General (CGR) found the Costa Rican Tourism Board (ICT) increased international advertising spending by 223% from 2022 to 2025, yet tourist arrivals and foreign currency earnings did not rise proportionally. The cost per tourist attracted rose from $4 to $10, indicating declining efficiency. This is a domestic governance issue with no direct market impact.