Costa Rica, located in Central America between Panama and Nicaragua is one of the most luxurious real estate hub in the world with around 50 McDonald’s restaurants, the main office of DHL in Central America and with hotel chain giants like Holiday Inn, Intercontinental, Marriot, Barcel, etc. Costa Rica in Spanish means “rich coast”, the name says it all.
While the Federal Government took large steps in last decade to entice multinational companies, hotel chain giants, there was no less attention paid to agricultural investment opportunities where companies like Del Monte, Dole, and Chiquita engaged their presence in the banana and pineapple industries surpassing coffee which is also one of the major products of Costa Rica.
The government was also successful in promising great infrastructure to Boston Scientific, Allergan, Hospira and Baxter Healthcare from the health care products industry.
Why Real Estate Investment is beneficial
Eco-tourism is the most important element of Costa Rica’s economy. With an area of around 51.1k sqkm. Costa Rica enjoys both tropical and sub-tropical climate making it one of the leading places to dwell. Most parts of the country are accessible through an extensive road system of more than 30,000 kilometers. It enjoys an inflation rate of less than 7 per cent, GDP booming at $38.27 billion and has natural resources like hydorelectric power, forest products, fisheries products.
GDP ratio: 68% of the total GDP comes from tourism which it makes it one of the leading destinations to develop real estates like hotels, restaurants, luxury homes and tourist services like banks and insurance.
Financial Institutions and Flexi-Payment options: There are plenty of state owned and privately held financial institutions in San Jose, and throughout the country. The official currency of Costa Rica is colon.Nevertheless, U.S. dollars, traveler checks are widely accepted and can be changed in banks and hotels besides major credit cards from major companies.
Activities: Local businesses offer visitors the opportunity to participate in many activities including:
o Bird Watching
o Canopy tours above the rainforests o Horseback riding (beach, jungles, mountains)
o Snorkeling & Diving
o Surfing
o Rafting/Kayaking (ocean and river)
o Whale and Dolphin watching
o Sport fishing (saltwater and freshwater)
o Mountain climbing and hiking
Air Connectivity: Access to Costa Rica from the United States is available from numerous cities offering direct flights, including: Los Angeles, Phoenix, Houston, Atlanta, Miami, Newark and New York City.
Political policies emphasizing safe investment:
o Exceptional Political Neutrality in Central America
o Demonstrated with facts: the army abolished from 1948 and not necessary
o Few racial tensions
o Low level of violence and criminality in the Latin American context
o The climate, the standard of life, the language (by the tourism), good sanitary system
o Foreigners allowed to own fully titled property
o Stable democratic government
o Water is safe to drink
o Easy access from the United States
o Pacific Ocean views and property not as susceptible to hurricanes as land on the Atlantic and Gulf of Mexico
o Cost of living.
o Extremely safe country (no military)
o Natural beauty. 5% of the world’s known plants and animals call Costa Rica home.