Enchanting, adventurous, progressive, and spectacularly natural. Costa Rica seems to have it all figured out. Its ‘Peace with Nature’ initiative is committed to sustainable tourism and making Costa Rica carbon neutral. It welcomes all walks of life from everywhere in the world, so whether you are an explorer, nature lover, into extreme sports or just want to relax, Costa Rica has something for you. The country may be small, but it’s booming with activities and something new around every corner.

The locals call themselves “Ticos” and officially speak Spanish, but English is spoken in most places by “the friendliest people in Latin America.” They live by the saying, “Pura Vida” or “life is good,” and its no wonder considering that Costa Rica has no military, and instead focuses is attention on education, healthcare, its stable economy, renewable energy and preserving its natural beauty. Costa Rica is extraordinarily biodiverse, and with its wildlife, natural attractions, and reputation for conservation, its 12 ecosystems contain one of the richest concentrations of fauna and flora found on the planet.

With a temperate climate that makes it easy to get out and enjoy the natural wonders of the country all year, it is easy to see why it’s known as the jewel of Latin America.

About Costa Rica

 

The Economy

Costa Rica is among the top 5 “Best to Invest” countries in the world, according to Site Selection Magazine 2016.

 

Important Facts About Costa Rica

• Costa Rica’s population is 5 million people
• The Labor force is 2.6 million people
• Education Budget is 7.6% of the GDP
• Healthcare Budget is 9.9% of the GDP
• Costa Rica has no Army Since 1949
• Costa Rica has 5% of the world’s biodiversity
• The official language is Spanish; however, the majority of the population uses English as their second language

Business Environment

• Costa Rica’s political stability is one of the higher in Central and South America
• The Country’s form of government is democracy and has been like that since 120 years ago.
• The general safety in the country is one of the highest in the region, the country dedicates a big portion of their GDP for the national police.

Other Important Facts

• Costa Rica generates 100% of its electricity from renewable sources
• Costa Rica’s income per capita $16,142 PPP, one of the highest in the region
• The average temperature over the year is 24 degrees Celsius

Most Important Economic Indicators

• Inflation Rate
• Basic Passive Rate
• Unemployment
• Monthly Index of Economic Activity
• Government Financial Deficit
• Exchange Rate (CRC – USD)

The new Digital Government Implementation

As part of their efforts to increase the effectiveness of the government institutions, during the last 5 years, Costa Rica has been making some changes in the structure and protocols handled by each public institution bringing new electronic tools and platform at the reach of each Costa Rican Citizen and Non-Citizens to, for example, check their medical records, get appointments for most of the procedures in multiple institutions along with the country, therefore this has been improving the way the public system works and also avoiding queueing up for doing paperwork at the majority of institutions. Also, as part of those efforts, the central bank has implemented one electronic version of the ID that can be requested by Costa Rican Citizens and Also residents, with the new electronic version of the ID the people will be able to do a variety of processes online without having to attend to the public institutions physically.