ECONOMY

The structures of the Costa Rican economy have changed dramatically within just a few decades: Costa Rica has transformed itself from an agrarian to a service and industrialized state. While agriculture accounted for 23.5% of GDP in 1965, it made up only 7.8% in 2001; in contrast, services and industry make up 65% and 20% respectively. Agriculture remains of great significance for the labor market, with a share of 20%.

The Costa Rican economy grew at a healthy 5.6% in 2003, with growth estimates exceeding 4% for 2004. Compared with its Central American neighbors, Costa Rica has achieved a high standard of living and an unemployment rate of 6.3%.

Costa Rica's industry mainly processes agricultural products. The production of other consumer goods is still just taking off. However, there are many business incentives to bridge these gaps. Many real estate investors fall in love with tourist projects, especially those related to ecotourism. Many hotels are being built, bought and managed by foreigners. Tourism has developed into a very important source of foreign currency. The national economy is made up of services (58%), industry (26%), and agriculture (16%).

Costa Rica has managed to create one of the most attractive investment environments in Latin America for the development of industries. Costa Rica's unique characteristics—its strategic location, political stability, business incentives (including free trade zones), supply of high quality human capital—and its proactive promotion of these assets—have all contributed to an increase of investments by high-tech companies in the fields of power technologies, systems integration technologies and call centers.

Companies that have invested in Costa Rica: