The predictions are in for a 6% growth in the Costa Rican economy next year, amid a determination by the government to cut through red tape and spend heavily on turning potential growth into sustainable growth with investment in infrastructure and socio-economic development projects, including superhighways, other construction and pro-growth incentive packages.
Costa Rica is very much committed to enticing investment and business from abroad as well, in fact so much so that China has invested massively in developing the Costa Rican infrastructure as it sees the Latin American country becoming one of its main trading partners.
Costa Rica also has a massively growing tourism sector. According to official figures the sector has been growing at 8% per year for the last 10 years, and recently it has become a massive hit with the growing wave of eco-tourists, which looks set to accelerate growth further still.
The country has two major international airports, and the completion of new motorways means it now takes just one hour to get from the capital city of San Jose to the town of Jaco on the coast. English is widely spoken in this country making property transactions much easier to understand. These factors will continue to increase the number of visitors and the need for accommodation.
Foreigners are also, not only allowed but encouraged to buy property in Costa Rica, where they enjoy the same legal protection and rights as Costa Rican citizens. Another incentive is the lack of effect from the financial crisis felt in Costa Rica, due to the fact that there was no indulgence in the sub-prime game of Russian Roulette that western banks played and lost.
That said: property prices in Costa Rica did fall slightly, but this was as a result of a drop in buyers from the US and Canada as fear set in into 2009, but now fear is subsiding the buyers are returning.
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