The Dominical region has seen real estate investments appreciate 20 to 35 percent per year - in some cases more. Of course, a healthy investment environment does not emerge in a vacuum. Increased interest in Costa Rica as an investment and business center is a direct response to the country's long-term development strategies. Infrastructure upgrades, such as the international airport in Liberia, have led to exponential tourism growth. High-tech companies, including Intel, have been attracted by Costa Rica' business advantages (listed below) and free-trade zones.
Costa Rica's strongest economic attractions include:
Stability: Costa Rica is one of Latin America's oldest and most stable democracies, and abolished the military in 1949. President Oscar Arias is a Nobel Peace Prize winner, noted for his commitment to opening international markets and further enhancing investment conditions in Costa Rica.
Education: Costa Rica's literacy rate (95.6%) is among the world's highest; the workforce is increasingly bilingual. Generous government support (5% of the GDP) funds high-quality and accessible university, technical and vocational training, yielding a well-trained workforce.
Location: Only 2 ˝ hours from Miami, set between North and South America, and served by an increasing number of direct flights to these regions as well as Europe, Costa Rica's position can best be described as strategic. Major ports on both the Caribbean and Pacific Coasts adds to the country's appeal.
Incentives: For more than 20 years, a number of businesses have taken advantage of Costa Rica's investment incentives, including free-trade zones and tourism programs. Major multinationals, such as Intel, have had a noticeable positive impact on technical training levels and economic stability.
Infrastructure:
- Electricity: Costa Rica's 98-percent coverage rate is second only to Chile among Latin American nations. Furthermore, 97 percent of its electricity comes from clean, renewable hydro, wind, geothermic and solar energy.
- Telecommunications: Land-line coverage is reliable and covers more than 97% of the country. Completion on a project to install 3,800 km of fiber optic net using DWDM technology is set for the end of 2006, significantly increasing telecommunications capacity. Costa Rica leads Central America in cell-phone service: as of April, 2006, the country had 1.5 million cell phone lines.
- Internet: Dial-up service is available throughout the country, and the Advance Internet program connects 207 locations throughout the country. The National Electricity and Telecommunications Institute (ICE) plans to provide a total of 135,000 DSL ports by December 2006. While not yet available in every corner of the country, Amnet and Cable Tica provide extensive cable internet service in urban areas. Broadband internet using microwave signals and satellite connections are available in rural areas. ICE also operates business internet services, offering Private Virtual Networks that approach dedicated network quality, and is exploring additional broadband access possibilities.
- Transportation: Costa Rica's constitution provides for the right to freedom of movement. A comprehensive network of bus companies provide transportation to most towns and villages for only a few dollars per ticket. Two domestic airlines, Nature Air (www.natureair.com) and SANSA (www.flysansa.com), offer reasonably priced flights to points in almost every region. Costa Rica has a comprehensive roadway system, although extreme weather and funding shortfalls have hindered upkeep in some areas. However, noticeable improvements have been made, such as the excellent highway that now runs south of Dominical. Investment and tourism sectors have successfully championed the issue, and major repairs are scheduled for several areas.
Quality of life: In the last 20 years, poverty has dropped from 40% to less than 20%, and Costa Rica has a stable and populous middle class. Broad public access to health services, social security, potable water and other basic services is steadily expanding.
The Costa Rican - American Chamber of Commerce (www.amcham.co.cr) and the Costa Rican Investment and Development Board (CINDE, www.cinde.or.cr) are excellent sources of business and investment information.
Comprehensive information on registered companies, their audited financial statements and their investments offerings is available from Costa Rican supervisory entities. Both the SUGEF (Superintendency of Financial Entities, www.sugef.fi.cr) and SUGEVAL (Superintendency of Securities, www.sugeval.fi.cr) have initiated English translations of their web sites; some translated material has already been posted.
Become a member
View map
