With over 41 million international arrivals in 2015 and an average growth of 5 percent, Latin America’s travel and tourism industry has incredible potential to help generate growth, create jobs and enable regional development, said a recent report by the World Economic Forum.

Costa Rica ranked fourth in the forum’s 2017 Travel and Tourism Competitiveness Report.

Researchers said when presenting the findings that beautiful natural sceneries and iconic cultural landmarks aren’t the only factors that determine whether a destination is competitive.

The forum’s ranking is also based on polices in place to enable the sustainable development of the tourism sector. And the report also looks at factors such as how easy it is to do business in a country, specific travel and tourism policies, infrastructure, as well as natural and cultural resources.

The 10 most competitive countries in Latin America according to the forum are the following, with Mexico ranking #1, followed by Brazil, Panama, Costa Rica, Chile, Argentina, Peru, Ecuador, Barbados, and Colombia in 10th place.

Costa Rica was sited for its emphasis on ecological tourism and its wealth of natural resources, including two national parks that have been designated as Unesco national heritage sites.

“With almost 5 percent of the active population dedicated to tourism, the sector contributes 4.8 percent to the Costa Rican GDP, ” said the report.

“In recent years Costa Rica has earned the honor of being among the most sustainable and happy nations in the world, according to Happy Planet and the World Economic Forum itself,” continued the authors.

Protected areas and national parks a remarkable more than 20 percent of Costa Rica’s territory.