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Costa Rica Among Top 20 Emerging Economies 2012

According to Ernst & Young Study, Costa Rica Ranks 19 in the Top 20 Emerging Economies
Costa Rica is more than just exotic wildlife, spectacular beaches, great climate, exciting eco-adventures, and tropical rainforests. For serious investors around the world, Costa Rica is also a great location for investment.

In a study undertaken by Ernst and Young that ranks countries in an emerging economies index, Costa Rica came in an impressive 19th.

The Ernst and Young Report Emerging Economies 2012 Report   adds legitimacy to the already expanding reputation that Costa Rica is a serious global competitor in the emerging market sector and becoming very attractive for direct foreign investment. In the Ernst and Young study, Costa Rica ranked 19 in the Top 20 emerging economies and is 5th in Latin America behind the behemoths such as Brazil, Mexico, Chile and Argentina.

Often referred to as “The Switzerland of the Americas," Costa Rica from an investment and business standpoint is rapidly becoming known as the “Silicon Valley of Latin America”. Investing in Costa Rica is particularly attractive due in part to its foreign-investment friendly government policies, and stable social and economic climates.

With many global companies deeply impacted in 2009 by the financial crisis, Costa Rica became an appealing option for moving elements of business units and operations for cost-cutting, offshore purposes to this fertile ground of skilled workers and a highly educated population. Companies such as Microsoft, Hewlett Packard, Western Union, Intel, GE and more are continuing to make sizable investments in this country.

The World Bank has tipped its hat to Costa Rica’s political stability and robust democracy as one of the best in Latin America. With a conservative central bank, a real estate market that came out of the U.S. housing crisis practically unscathed, and a healthy economic growth rate, there are several positive points when weighing up Costa Rica against other emerging markets.

Organizations such as CINDE offer gateways to foreign investors looking for assistance in participating in various sectors such as; services, manufacturing, life sciences, clean technologies, and more. Free zones offer security beyond the government incentives. Often these office parks are nestled in beautiful, safe, and accessible areas of the Central Valley. 2 Costa Rica Real Estate is another top-level liaison organization with offices currently located in 3 of the hottest investment markets in Costa Rica. Specializing in real estate investments and business consulting, this organization provides sound business and investment advice from experts in the field.

As China leads the rankings in this index, followed by India, Russia, and Brazil, small markets like Costa Rica have become increasingly competitive on the global business playing field. With low-cost labor, highly skilled and educated workers, all supported by a universal health care system, Costa Rica is becoming less dependent on its natural resources and agriculture, and stepping up to go toe-to-toe with multinational giants in services and manufacturing.

These emerging markets are projected to constitute 50% of the world’s GDP by 2020, and foreign investors are driving that growth. The index is compiled using 13 variables within 3 categories: overall integrity, global image, and global integration. These 3 criteria are practically taken out of the Costa Rican government’s playbook on political strategies and economic incentives to attract further foreign investment.

With estimates from Ernst & Young predicating 70% of global growth to come from emerging markets such as Costa Rica, these nations are attracting just short of 50% of global inflows of FDI (foreign direct investment), representing 25% of FDI outflows. With numbers as impressive as these, and a “rising tide raises all boats” foreign investment strategy, small markets like Costa Rica are on for the ride and showing that this small country has big potential.

Costa Rica News
Inside Costa Rica
June 22, 2012