Discover Costa Rica

POLITICAL STABILITY

The economic, political and social stability of Costa Rica is one characteristic that has distinguished it through its entire contemporary history and one of the most important strengths that have enabled it to reach great success in alluring foreign investors.

The Costa Rican government is ruled by a series of constitutional controls and balances. The executive responsibilities rest on the President, who is at the center of power, and is supported by two Vice-presidents and his cabinet. The President and Vice-presidents, and 57 Congressmen of the Legislative Assembly, are elected every 4 years. In addition, the country has a strong legal system that manages the ‘judicial power’, which ensures law compliance and covers nationals, as well as foreigners, within the country’s territory.

The last World Bank survey for Global Governance Indicators ranks Costa Rica in the first place within Latin America for political stability. Political Stability Chart

Costa Rica has a long tradition and stable democracy, which is recognized worldwide and has over 115 years of history.

The country has no limitations on capital funds transfers associated with an investment, regardless of the currency. No restrictions are imposed on re-investments or on repatriation of earnings, royalties or capital. In addition, there is no requirement to register investments with any of the government authorities.

Costa Rica has achieved international standards for IPR protections and a stronger upgrade is expected with CAFTA implementation.

ECONOMIC GROWTH

There is no doubt that one of the pillars of the Costa Rican economic development has been trade liberalization, which has allowed exports to surpass its 30% ratio of GDP in 1980 to a current 50% rate (includes exports of goods and services). Furthermore, this trade liberalization has been coupled with a series of structural changes, and has pushed towards a productive transformation that has lead to factor productivity growth, diversification of the economy, and a higher level of investment. The real GDP has been increasing in a compound annual growth rate of 5.3% since 1991. Real GDP Growth of Costa Rica

These decades of peace and democracy, stability and economic growth have been translated into important social achievements. In this sense, a relevant fact was that in the last 20 years poverty was reduced from 40% to less than 20%. Costa Rica has passed on to occupy one of the highest levels in educational and health attainment in Latin America, which is also one of the best in the world. Furthermore, it has been able to provide broad access to services like health, social security, water and basic services for the entire population.

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* Citation: Costa Rican Investment Promotion Agency or www.cinde.org

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