If you have ever heard of Costa Rica, it is probably because of its tourist appeal, its harmony with the environment, and its status as a symbol of peace. Indeed, these are some of its characteristics, however, there is much more.
Costa Rica is a member of the OECD. As of today, it is fulfilling the agreed-upon agenda without any obstacles. That is to say, it is a market that opens up many new opportunities. Costa Rica is an economy open to business with the rest of the world. The agreed changes are focused on legislative improvements in the areas of competition, taxation, governance, education, etc. The small Central American country is making its way among neighboring nations, establishing itself as a preferred destination for investors to set up their business centers.
The main reasons why we should consider Costa Rica for investment are:
Economic outlook for GDP growth above 4%, according to the OECD. At the forefront of GDP growth, we find private consumption and capital formation (also more than 4%). This opens up very interesting development opportunities for foreign consumer goods and equipment companies.
Its democratic policy is the most consolidated in the region. Costa Rica maintains the second highest level of security and stability in the region, surpassed only by Chile.
Costa Rica has 5% of the world’s biodiversity. It is a country recognized for its environmentally friendly approach and aims to be a carbon-neutral country by 2021. It maintained its electrical grid for more than 110 consecutive days using renewable energy without increasing the rate for consumers.
They have experience: more than 200 companies from other countries are already doing business in Costa Rica due to its strategic position. Costa Rica is located right in the center of the continent, facilitating North-South exchanges in the Americas. It also has access to the Atlantic Ocean and the Pacific Ocean, facilitating exports/imports. The project for the creation of the first Interoceanic Dry Canal in Latin America has currently been presented. The project, a direct competitor to the Panama Canal, will offer benefits in terms of costs and time for its clients.
It is a multilingual country, a large part of the workers between 18-40 years old speak at least one additional language. The second language is English, but others have made their way (Portuguese, Mandarin, German, French, among others).
The level of professionalization and specialization among its students and workforce is increasing. There are 5 public universities, 56 private universities, and 218 technical colleges.
Currently, it has a solid foreign trade platform: 14 trade agreements (mostly free trade agreements) and bilateral agreements with 14 countries.
Costa Rica enjoys an ideal climate, with an average of 24 degrees Celsius. It is one of the few countries that does not have an army, being considered a symbol of peace. Its economy is centered on tourism (70% of GDP is Services), agriculture, and the export of electronic equipment. Inflation in 2016 is around 0.7%.
Very impressive
The capital, San José or its outskirts, is key for doing business. The per capita income is the highest in the Central American region. This represents a high consumption capacity in an eminently urban society. In the capital, we recommend establishing local contacts with the professional “guilds.” We are left with a phrase from the OECD itself about Costa Rica: “Costa Rica’s economic, social, and environmental achievements are impressive.”
At Resonance, we aspire to live in harmony with the natural world as a reflection of our gratitude for life. Visit and subscribe at Resonance Costa Rica Youtube Channel https://youtube.com/@resonanceCR
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Publish date : 2024-11-01 07:32:00
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