As mentioned in a previous post, the World Economic Forum designated Costa Rica as Latin America’s most competitive tourism destination in 2007. This ranking is borne out as developments such as the Mandarin Oriental and the Cacique Resort are proposed and built in ever-growing numbers.
Costa Rica also led the rankings for Central American Countries of the Future for 2007/08, placing first in five of the seven categories – economic potential, business friendliness, human resources, quality of life, and development and investment strategy.
Overseas companies invested US$ 1.4 billion in Costa Rica last year, equivalent to 6.4% of the Central American nation’s GDP ($320 per capita) and one of the highest levels in all of Latin America. Multinationals such as Intel, Hewlett Packard, GlaxoSmithKline and Allergan have all made recent investments in Costa Rica.
These foreign investment levels are attributable to factors such as high education levels, government support for high-tech industries and, for European investors, the favorable exchange rate between the US dollar–the currency of choice for most international business transactions in Costa Rica–and other foreign currencies such as the Canadian dollar, the British pound and the euro.
And let’s not forget the “climate” part of the title! Costa Rica is often described as Paradise, and the mild climate in the central highlands and tropical coastal areas are a huge draw for immigrants and investors alike. Highs in San Jose average in the mid 70s(F) year-round with lows around 60 degrees, while the Guanacaste region sees similar lows, with highs in the lower 90s.
