La Fortuna Waterfall is in central Costa Rica. In Spanish, it is known as Catarata Fortuna. The waterfall drops about 70−75 meters and is at the base of the dormant Chato volcano, near the Arenal. The waterfall is one of the must-see attractions in the La Fortuna area and the waterfall hike, about 500 steps down and then back up, is well worth the effort. Attractive rest stops along the steps allow for necessary respite.