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The Addressable Market – B2C

Bamboo YogaPlay is an eco-friendly Costa Rican resort that emphasizes unique services including yoga and healing arts. Bamboo YogaPlay is part of Costa Rica’s tourism sector, which in 2009 included 2.29 million international visitors. Bamboo YogaPlay’s target market is a dynamic group of travelers who wish to learn more about and express themselves through an artistic outlet and enjoy the ecotourism and adventures that Costa Rica has to offer in a relaxing environment. These eco travelers generally take part in Bamboo YogaPlay’s yoga and healing services, as well as enjoying wildlife excursions such as canopy tours, horseback riding, or hiking. Bamboo YogaPlay looks to take advantage of the Costa Rican tourism market that has experienced steady growth over the past several years, a trend which is expected to continue for the foreseeable future. Bamboo YogaPlay is also in a position to take advantage of the worldwide increase in eco-tourism, and the improved access to the Southern Zone of Costa Rica.

Bamboo YogaPlay Market Analysis

The first segment that Bamboo YogaPlay is targeting is North American Tourists. North Americans tend to travel most during their summer and winter seasons. Members of this segment have generally traveled in the past, and may have visited other ecotourism locations.

The second segment which Bamboo YogaPlay targets is European travelers. Europeans generally have longer holiday periods and wish to travel to warmer locations during their winter season.

The third segment is tourist from other countries in the Americas, which consists of countries that are in Central and South America as well as Mexico. These travelers have an above average living standard compared to the rest of their country and can afford to travel, but generally have less disposable income than the other market segments.


B2C Market Segmentation

The following tables provide information and statistics on Bamboo YogaPlay’s target market segments:

North American Tourists (US, Canada, Mexico) European Tourists Central/South Americans
Size 712,789 visitors Q1-Q3 2009, 44% of tourist arrivals to Costa Rica are from USA/Canada 187,486 visitors 712,789 visitors Q1-Q3 2009, 14% of tourist arrivals are from Europe 537,645 visitors 712,789 visitors Q1-Q3 2009, 40% of tourist arrivals are from other Americas
Demographics
Age range 18-45 18-45 18-45
Location North America Europe Central/South America
Income level $35,000 and up $31,250 and up $20,000 and up
Psychographics
Personality Curious, open minded, wants to experience new things. Optimistic and positive personality.
Values Passionate about travel; values keeping a healthy body, spirit, and mind; Treating the environment properly is important to them. Has limited time and funds to travel, so they it is important to them to have a great experience in their vacation time.
Interests Surfing, Yoga, environmental sustainability, traveling, outdoor activities
Lifestyle Is likely to have a typical full time job in the country where they live and have limited vacation time. Lives a conscious lifestyle when it comes to their body, mind, spirit and the environment around them.

International Tourist Arrivals to Costa Rica – Q1 through Q3 2009

Jan Feb March April May June July Aug Sept Total
Total International Tourists 222,664 168,164 179,772 165,352 130,536 158,972 180,792 159,025 113,083 1,478,360
North America 89,143 84,721 99,413 79,455 68,935 86,289 89,832 72,692 42,309 712,789
Central America 90,196 48,049 42,517 52,880 36,940 46,036 48,651 45,655 44,606 455,530
South America 12,838 8,906 8,884 8,482 7,249 8,192 9,794 9,566 8,204 82,115
Europe 25,729 22,676 23,987 19,830 13,325 14,395 27,577 26,196 13,771 187,486

Market Trends & Growth Patterns

While the global recession caused a decrease in tourism to Costa Rica from all around the world, the largest decrease was seen from United States residents. However, the tourist market in America is growing due to the large baby boomer generation. More than ever before, the baby boomer generations (those born between 1946-1964) are traveling overseas.[1] Tourism arrivals in Costa Rica have increased from 1.72 million in 2006 to 2.15 million in 2008 and 2.29 million in 2009. In spite of the recession, the market is expected to grow 8% per year through 2014.[2]

Throughout the three target market segments, the winter and summer season have the most traffic into Costa Rica. Winter/holiday season of December and January is the highest volume of travelers. The summer months of June, July, and August also demonstrate higher numbers of travelers.


Market Size & Potential

In the first three quarters of 2009, there were 1,478,360 international tourist arrivals in Costa Rica. Of those travelers 712,789 visitors are from North America, 187,486 are Europeans, and 537,645 are visitors from Central and South America.

28.7% of travelers from the United States express interest in visiting Costa Rica, a market of 14.2 million people.[3]


[1] Honey, Martha & David Krantz. Global Trends in Coastal Tourism. 2007. CESD

[2] “Costa Rica Tourism Report Q4 2010.” Companies and Markets. Web. July 2012.

[3] “The Potential for Costa Rica.” Costa Rica Tourism. Web. July 2012.

 


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