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Strategically located in Central America, Costa Rica offers investment opportunities for companies interested in broaden their horizons and settle themselves in a country that, with its strong democratic institutions and its efforts to achieve sustainable inclusive growth, represents a success story and a valued partner and friend for Canada. Economic and political relations between Costa Rica and Canada are very strong and profound, and include also important areas such as security, education, culture and multilingualism, as well as the sharing of values of freedom, protection of human rights and democracy.
Costa Rica’s commitment to economic growth and social development has driven its economy towards promotion of trade and diversification of its
Source: Central Bank of Costa Rica
In the last 10 years, the country has achieved a consistent growth in FDI, which has become a significant complement to domestic savings. Total FDI inflows have grown an average of 10,2% every year since 2000. Currently, more than 200 multinational companies are operating in Costa Rica.
Costa Rica has been especially successful in sectors such as advanced manufacturing, medical devices, services and tourism. The dynamism of these sectors is evident with the growth that companies have shown and employment levels.
Costa Rica’s success in attracting foreign direct investments relies on a combination of factors such as: well educated, multitask and productive workforce; positive cost/benefit relation; friendly-business environment; financial structure; clear and sustainable benefits and incentives; and a government committed with the success and stability of the investments, growth and development.
Currently Costa Rica has eight Free Trade Agreements, including Canada, United States, the European Union and China. The FTA between Costa Rica and Canada is in force since 2002, and is now under a process of modernization.
Costa Rica is Canada’s most important commercial partner in Central America. The FTA has allowed the commercial flow to increase more than 40%, accounting for US$529 millions in 2010.
Why to invest in Costa Rica?
| Indicator | Costa Rica |
Latin America and the Caribbean |
GDP/capita |
US$7.842 |
US$ 7.007 |
Population |
4,62 million |
572,5 million |
FDI/GDP |
4,65% |
2% |
FDI/capita |
US$ 283 |
US $ 134 |
Poverty headcount ratio at $2 a day (PPP) (% of population) |
5,4% |
17,1% |
Public spending on education/ GDP |
6% |
4% |
Literacy rate |
96% |
91% |
Health expenditure /GDP |
10,5% |
7,7% |
Life expectancy at birth, female |
82 |
77 |
Improved water source, rural (% of rural population with access) |
91% |
80% |
Forest area |
51% |
47% |
Internet users (per 100 people) |
34,5% |
31,5% |
Source: World Bank Data
For further information please visit the following websites:
- Costa Rica’s Foreign Trade Corporation (PROCOMER)
- Office of Trade Promotion in Canada. Email: ihuelat@procomer.com Phone: 416-865-3382. Fax : 416-865-3383. Postal Address: 16 Four Seasons Place, Suite 107 Etobicoke, ON M9B 6E5
- Ministry of International Trade (COMEX)
Publications to assist foreign investors and business people: