Costa Rica Economic Overview & Business Opportunities
What an investor looks for when it comes to setting up a business is the business opportunities which are available in a location. Costa Rica is one destination which has caught the eye of investors because of how business opportunities are quickly emerging all throughout the country to encourage more entrepreneurs to get involved in the local business market.
Costa Rica Economic Overview
Costa Rica is successfully attracting international investors to its shores, thanks to the continued ongoing efforts by the local government, and the general optimistic outlook for the market. Costa Rica is one of the few countries that has managed to maintain a low inflation rate of 0.8%.
Economically, Costa Rica has a strong and stable economy. This has caused business to surge in popularity over recent years, with more foreign investors seeking to incorporate a company in the country. With established free trade agreements with several countries, and a strategic location which puts it close to major markets in Central America, the country has become a target for investors who are thinking about establishing a business here.
The locals in Costa Rica make education a top priority. Because of this, the country is home to an impressive 97% literacy rate among the locals. The younger Costa Ricans especially, are well-versed in English and have no problem using it as the main communication medium for business dealings. Investors are not going to find it a problem at all to find the right fit for the roles within their company.
Costa Rica Business Opportunities
The country is currently experiencing an ongoing tech surge. Amazon and Microsoft are just some examples of major tech companies which have already formed a strong base in Costa Rica.
3E Accounting has helped new companies by providing them with the resources they need to help them build their business until they successfully get it up and running again. Another major point which draws the interest of investors is the ease of setting up a business in Costa Rica too. With all the necessary documentation prepared, an entrepreneur can easily establish and set up a business in Costa Rica is as little as 20 to 40 business days. This, combined with the entrepreneurial assistance they can receive puts Costa Rica in the sights of any ambitious entrepreneur who wants to make a business happen here.
The majority of business opportunities in the country are located in the Central Valley, which is where most of the country’s purchasing power resides. San Jose, Alajuela, Cartago and Heredia is where at least 75% of the country’s population dwells, which means this is where most of the business opportunities in Costa Rica would be. 60% of the country’s population are under 30-years old, so there’s a real market for investors who can meet local demands with their businesses.
Setting Up a Business in Costa Rica?
Let 3E Accounting’s global team guide you. Our team of experts are equipped with the industry knowledge you need to navigate your incorporation process successfully. To find out more about the international services that we offer, visit our website today to contact us.
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