Strategic geographic location
Geographically located in the center of the Americas between Nicaragua and Panama, it is bordered to the east and northeast by the Caribbean Sea and to the west and south by the Pacific Ocean, which allows it to be very close to the United States and the other countries of the continent. This makes Costa Rica an important location for US and European companies looking to do business in the region.
Additionally, the proximity of the country to the other nations of the region speeds up the delivery time for exported goods, due to the existence of more than 24 world-class cargo shipping companies, which have regular departures to the Pacific Ocean and the Caribbean Sea, and airfreight to worldwide destinations through 15 daily express delivery flights operated by leading express freight service companies.
One of the characteristics of this nation is that it does not have a military force, because it is very peaceful and without armed conflicts. Additionally, it has kept its political constitution in force for more than 70 years, making it one of the most stable countries in the region.
Duty Free Zones
Robust regime of Free Zones that has been well evaluated by the World Trade Organization (WTO) and the Organization for Economic Cooperation and Development (OECD), which has made it easier to attract foreign direct investment to enhance its development as a nation.
These free trade areas offer import duty exemptions on raw materials, parts and capital goods. Additionally, they grant fiscal benefits such as exemption from corporate income taxes, export taxes, local sales, special taxes and taxes on capital.
Within these zones, technology, manufacturing, supplies, scientific research and medical device companies and hundreds of service centers are housed. The areas are managed by the Costa Rican Foreign Trade Promoter (PROCOMER), which has been recognized four times. as the best trade promoter in the world.
From a business perspective, this supports the decision of companies that make new investments in the country, since the local operation can be positioned better and better in corporations.
Social stability and skilled labor
Since 1948, with the elimination of the armed forces, the country has invested these resources in the education of its population, prioritizing literacy, here basic education is free and compulsory. This has allowed it to position itself as a country with one of the highest literacy rates in the American continent (96.2%).
According to the Global Competitiveness Report 2018-2019 of the World Economic Forum, Costa Rica's educational system is one of the first places among 140 economies, being the highest in Central America.
Costa Rica has a total of 128 technical schools and 60 universities, where professionals with a high educational level are prepared, in order to respond to demanding international standards. It should be noted that a high percentage of the population speaks English, which in addition to facilitating tourism, also allows them to perform successfully in the business sector, where 95% of the employees of multinational companies are local.
Additionally, this nation has an efficient public health system with universal coverage. This, in addition to evidencing social inclusion, allows Costa Ricans to feel confident with the coverage, quality and care of their health system.
Fertile ground for business
Without a doubt, Costa Rica is one of the strategic destinations for international investors, since its 120 years of democracy make it a socially and economically stable country. For this reason, the Country Brand Report Latin America 2019-2020 placed the country in seventh position in terms of its value system, quality of life and aptitude for business. Likewise, Costa Rica ranks fourth with the highest Foreign Direct Investment (FDI) in Latin America, according to the United Nations report.
Easy access to markets
Given the variety of free trade instruments and mechanisms, products originating in Costa Rica have preferential tariff access to the main world markets, in part due to its privileged geographical position that offers a commercial platform with great opportunities for companies that invest in the country.
Another important aspect is that the free trade agreements signed by Costa Rica are in a constant process of consolidation among its members due to the positive image of the country among its commercial allies.