Why Costa Rica Real Estate?
Economic
Stability
Amidst the political and societal turmoil that troubles many of Latin America's countries, Costa Rica has been able to circumvent the trend. The economic, political and social stability of Costa Rica is the hallmark attribute that has distinguished this nation as a cultural and economic center of the region. As a beacon for freedom and stability, Costa Rica is achieving great success in attracting foreign investors.
Costa Rica's government has been a stable democracy since 1949. The country's success was recognized in 1987 when President Arias Sanchez was awarded the Nobel Peace Prize. The award was won for the president's elevated ethical principles and the representation that he was as an example for and of the Costa Rican people. Culturally this reflection is apparent.
Costa Rica was the first country in the world to constitutionally abolish its army. Following civil war in the 1940's, Costa Rica ended rule by armed forces and established a democratic republic. Since 1949, the Costa Rican government has been a stable democracy that is governed by a strong, democratic constitution. Even before the current democracy was established, the Costa Rican government adhered to a code that was rule by majority. Its government has also been able to work towards pacification and successfully avoid the widespread violence that occurs throughout most of Latin America. Costa Rica is one of the most stable governments in the region.
Stability in evident in the economic dealings and policies in Costa Rica Looking to the last 25 years, Costa Rica has not been saddled with a single macro-economic crisis. For a developing country, that is an outstanding achievement. Poverty has been reduced by 75% in as much time. The average economic growth rate of the country is a healthy 3% per year. Costa Rica has amplified their involvement in world trade during these years. Exports rose from 30% of the GDP in 1980 to 60% in 2008. The increase in trade has led to an expansion of the economy and greatly reduced the economy's vulnerability to financial crisis. As the Central American Free Trade Agreement (CAFTA) was implemented, Costa Rica was further integrated into the world economy and economic stability was further established.
With a $2.9-billion-a-year tourism industry, Costa Rica is far and away the most visited nation in the region. Most of the tourists come from the U.S. (51%) which facilitated a large expenditure per visitor of $1200 per visit. In 2007, tourism contributed with 9.1% of the country's GNP and represented 15.4% of direct and indirect employment. Ecotourism is extremely popular with the many tourists visiting the extensive national parks and protected areas around the country. Costa Rica was a pioneer in this type of tourism and the country is recognized as one of few with real ecotourism. The protection of the environment has also become a top priority to Costa Ricans and their government.