Costa Rica Economy
Costa Rica economy is regarded as one of the most stable and competitive economies in Latin America. The country’s economy is supported by a number of successful sectors including; tourism, agriculture, offshore investments. The high education level of the residents have also aided in the success of the economy of Costa Rica. Of late Costa Rica has become a choice destination for tourism and retirements and is free zone continues to attract business for the country.
Like many countries in the region Costa Rica has a vibrant agricultural sector which employs a huge percentage of the population. Bananas were the crop of expert for many years until pineapples took over. Coffee is one of the major cash crops produced for export in Costa Rica. The agricultural sector in Costa Rica continues to expand in the country thanks to its very fertile soils and the support of the government.
Costa Rica has opened its free zone to foreign companies who are interested in setting up business in Costa Rica in exchange for tax exemptions. This provides employment for the country and has increased the exports out of Costa Rica immensely.
The tourism industry in Costa Rica continues to grow and contribute greatly to the economy of the country. Costa Rica boasts of many rain forests with numerous species of flora and fauna and other natural attractions. Costa Rica is big n eco tourism and offers a number of activities which attract persons who are seeking adventure and persons who are interested in bird watching, hiking, rain forests, exotic plants, monkeys and other species which occupy the rain forests.
Costa Rica is becoming a retirement jurisdiction as the country has an excellent retirement program for individuals who can provide that they can maintain themselves and resides in Costa Rica for no less than four months every year. The pension program makes candidates eligible for residency in Costa Rica. The increase is the number of persons applying to this program has also increased the sale and rental of real Costa Rica real estate.
Costa Rica has been able to make many trading partners around the world and has bilateral agreements with many countries.