Costa Developers Blog

Do you Fish or Golf? Then why aren’t you in Costa Rica?

costadevelopers — Mon, 10 May 2010 14:15:15 +0000

The latest KPMG survey reports that the Bahamas has lost ground to competing destinations in the Caribbean as the growing number of travel golfers are more aggressively moving to locations that besides a great golf course also appeal to their pocketbooks. The top golf destinations in order of their rankings are the Bahamas, Dominican Republic, Puerto Rico, Costa Rica and Jamaica. Golf in Costa Rica has experienced significant growth over the past decade and today the country now offers at least 12 world-class golf courses.

Besides for Golf it seems as if Local Fishing on the Central Pacific Coast Region is really starting to pick up. This May Sailfish were being located about 35 miles in front of Los Sueños and Jaco Beach. One boat in particular reported 15 sailfish released. Another larger boat raised 45 and released 29 sailfish while going through 75 ballyhoo. And another boat released 13. Also, one of the most sought after Fish in the Pacific Ocean has to be Snook The most common snook pursued and caught by anglers is the Caribbean snook, but tarpon snook, swordspine snook and fat snook are also available. Snook are hard fighters and a aggressive sport fish. Many fishermen are looking forward to November and December when Snookin Fishing really is at its peak. Bottom line, can it get any better?

Looking to move to Latin America? Costa Rica is the safest place to be!

costadevelopers — Fri, 30 Apr 2010 13:47:24 +0000

The Economist Intelligence Unit 2010 (EIU), a global leader in business intelligence, positioned Nicaragua as the second safest country in Central America, only behind Costa Rica. The report uses a scale from 0 to 100, with 100 being the most risky. According to 2010 indicators, Nicaragua scored 29, while Costa Rica scored 14, Panama 37, El Salvador 46, Belize 53 and

Honduras and Guatemala 68. EIU monitors around 200 countries worldwide measuring indicators such as armed conflict, organized crime, kidnapping, and manifestations.

The Global Peace Index 2009 (GPI) placed Costa Rica as the safest nation in the Central American region in its ranking of over 144 countries, which includes indicators such as the levels of military expenditure, its relations with neighboring countries and the level of respect for human rights. Among the Central American countries, Nicaragua is number two after Costa Rica,

in the 59 position, while Guatemala is number 111, El Salvador 94, followed by Honduras as number 112.

FTI Consulting (International Forensic Technologies) since 2009 has ranked Chile, Costa Rica and Uruguay as the Safest Countries in Latin America. Countries are ranked on a 1 to 5 sale (1 being the safest country and 5 the most insecure). Chile, Costa Rica and Uruguay were rated in Level 2 which is stable without changes’. Haiti and Venezuela remain the most dangerous countries in the region with a level 5 ranking (most insecure). Brazil, El Salvador, Honduras, Guatemala and Mexico follow closely with a level 4 ranking (high insecurity

Real Estate: Costa Rica Property? Is it a Good Investment?

costadevelopers — Sat, 17 Apr 2010 17:10:50 +0000

Source: life-in-america.info March 26, 2010

The Costa Rica property market has been bullish for many years now and more than 100,000 American’s now live in Costa Rica and many more have bought investment property and made gains of 30 – 100%. Now many property investors are switching their attention to other countries such as Nicaragua, Panama and Honduras, so is Costa Rica property still the best location for investment property in Central America?

Let’s find out. The answer is yes! Costa Rica is an established location and property booms can last for many decades – the reason for this is that when a destination becomes popular it puts in an infrastructure that attracts even more people. While many people like the idea of living or retiring overseas, they still want the comforts of home and other expats around them. Costa Rica provides the best infrastructure in Central America: Including, quality housing, great utilities, safety, and great recreational facilities. Other locations in Central America simply cannot compete with the quality of life, at such affordable cost.

Beachfront property is still highly affordable. The demand to live on the coast is huge in many developed countries and expensive. Demand is still strong and buying is supported by the baby boomer generation, not only looking to make money from their investments, but looking at the cost of living -hat offers them a luxury lifestyle, for just a couple of thousand dollars a year. With many people worried about not having enough savings and living longer this is a major consideration in investing in Costa Rica property. Where to get capital growth? Of course, the key to making money in any overseas property investment is location. You need to choose your locations wisely and in Costa Rica a safe bet is the Central Pacific coast. In conclusion, Costa Rica still offers the best risk reward in terms of property investment in Central America and a lifestyle that is hard to beat at any price.

Health News: Medical Tourism Conference in Costa Rica

costadevelopers — Fri, 09 Apr 2010 16:52:22 +0000

Costa Rica is hosting the First Latin American Global Medicine & Wellness Conference in San Jose, April 26-28, 2010. This conference will generate more than 750 business meetings, and the organizers expect over 400 participants, with over 75 exhibitors from throughout Latin America.Top level health care industry speakers will address many topics related to the medical tourism industry. Attending this conference will provide you a unique opportunity to participate in negotiations with international buyers, insurance companies, self-insured companies, medical facilitators and other important players of the industry. The purpose of this conference is for insurance company executives, employee benefit mangers, health underwriters, insurance agents, third-party administrators, and other interested parties to experience first hand what the hospitals and physicians of Costa Rica and other Latin American countries have to offer. Now is the time for employee benefit providers, insurance companies, TPAs, health insurance agents and anyone who is concerned about the rising cost of health care to learn about the benefits of medical tourism, especially as one of the main ways to bring down health care costs in the U.S.

Central Pacific Beaches Filled To The Brim on Easter Weekend

costadevelopers — Tue, 06 Apr 2010 16:42:59 +0000

Semana Santa (AKA Easter) , especially Thursday to Saturday, is beach time in Costa Rica. All the beaches reported one thing in common, they were all crowded! One report described the “puerto” (Puntarenas) as an “hormiguero” (anthill), as people packed every square inch of the beach. Other Central Pacific popular beaches likes Manuel Antonio and Jacó were pretty much the same. At Manuel Antonio to get to the beach the cars were backed up to almost a mile and every parking space in the lots and the street was filled with cars. Some just gave up on finding a parking space and decided to look for other nearby beaches. Just about everyone heads out to the closest beaches – Puntarenas and Jacó – and with the new highway; Quepos/Manuel Antonio is only two hours away instead of the 3 plus hours in the past. Many decided to stay for a day or more and came prepared with tents, awnings, grills, ice coolers, chairs and anything that can be crammed into the family vehicle and used on the beach and parks. The Guanacaste, the Southern Zone and Limón beaches were also busy, but nothing like the Central Pacific.

Costa Rica Ranks High as Tourism Destination

costadevelopers — Thu, 25 Mar 2010 16:57:18 +0000

The World Economic Forum has ranked Costa Rica as the fourth most competitive tourism location in the Americas, behind Canada, the U.S. and Barbados. Using criterion that analyzed 14 areas of tourism and travel, the study ranked 133 countries. Costa Rica received a ranking 42^nd in the world and 4th in the Americas. Costa Rica ranks sixth in the world in the category of natural resources and 27th overall for environmental sustainability. The study applauded Costa Rica for its high percentage of lands in nationally protected areas and its diverse fauna in 2009. Costa Rica welcomed over 1,922 million tourists, who generated over $2 billion for the economy.

New Free Trade Deal Signed Between Costa Rica & Singapore

costadevelopers — Wed, 10 Mar 2010 13:45:56 +0000

Singapore and Costa Rica signed the Singapore-Costa Rica Free Trade Agreement (SCRFTA) last week. According to a statement by Singapore’s Ministry of Trade and Industry, the SCRFTA is a broad-based and comprehensive agreement, covering issues such as trade in goods, rules of origin, customs procedures, sanitary and phytosanitary measures, technical barriers to trade, and trade remedies.

Among others are government procurement, competition policy, trade in services, investment, electronic commerce, intellectual property rights, bilateral cooperation, transparency, institutional provisions and dispute settlement.

Under the agreement, Costa Rica will be eliminating customs duties for 90.6 percent of its tariff lines upon entry into force of the agreement with the tariff on the remaining products to be eliminated over a period of 10 years, with the possibility of accelerated tariff elimination.

On Singapore’s part, the city- state would be granting immediate duty free access for all imports from Costa Rica upon entry into force of the agreement.

Costa Rica is Singapore’s eighth largest trading partner in Latin America, with trade in 2009 valued at 413.7 million Singapore dollars (about US$296 million).

While Singapore is Costa Rica’s second largest trading partner in Southeast Asia and largest destination for Costa Rican intelligent cards and medical prosthesis in the region.

Update on The Costa Rican Economy

costadevelopers — Mon, 01 Mar 2010 17:39:18 +0000

Costa Rica’s Economy is beginning to really gain steam. A poll by Manpower shows that Costa Rica is the number two in job expectations in Latin America, with a 23% net gain in jobs. Other indicators that the economy is turning around is the fact that 40,000 people attended the 10 days of the Expomóvil, the annual car show, that is really one big open ten saleathon for new and used vehicles. Add to that hotels and tour operators report an 80% occupancy rate for this Semana Santa (Easter)

In construction, predictions are for a 13% increase in new hiring that translates into 15,000 new jobs in the sector. Also, the monthly economic index produced by the Banco Central shows that the economic activity in January 2010 was 6% higher than in January 2009. Economic experts suggest that the use of credit cards being reasonable and keeping financial order is important, as well as not speculate on the future movements of the dollar/colon exchange rate.

Over the past several years Costa Rica has transitioned from being an agrarian economy to servicing the world in technology. The Global Competitive Report 2009-2010 listed Costa Rica as one of the most competitive economies in Latin America and the Caribbean. U.S. companies are planning trade missions to take advantaged of this change especially in search of new high tech opportunities. Some of the areas that are being explored are Electronics, Medical Devices, Services, Green Technologies, Industrial Goods, R & D, Outsourcing, Energy, Telecom and Construction.

In Related News:

Just recently, ESCO, a leading supplier of scaffolding and formwork services in Central America was purchased by Harsco Infrastructure, formerly known SGB Group. ESCO, which is headquartered in Costa Rica, has branch operations in Costa Rica, El Salvador, Guatemala, Panama, Puerto Rico, Trinidad and Tobago and Colombia. Harsco Infrastructure Europe will use the acquisition for additional expansion throughout the Latin American market, particularly in Brazil.
Also, Exports for Intel Costa Rica recovered from the decline they had been experiencing since April 2008 for the second consecutive quarter. Increased demand for chips and chipsets for computers and cellular phones generated sales of $595 million for the company between July and September of this year, 18% more ($91 million) than for the same period in 2008. The company said that Asia, America and Europe markets have recovered faster than expected from the financial crisis. The multinational’s increase in exports is also due, to a lesser extent, to the transfer of part of the production that the company had been doing in three plants that it closed in Asia earlier this year to Costa Rica. Intel will finish 2009 with exports of $1.9 billion, up 3% over 2008 ($1.85 billion) representing 20% of total Costa Rican exports.

Health Care: Why Rush Limbaugh Would Go to Costa Rica for Health Care?

costadevelopers — Sat, 27 Feb 2010 17:17:18 +0000

Conservative talk-show host Rush Limbaugh said this past week he’d go to Costa Rica for medical treatment if Congress passes proposed reforms to the US Health Care system. That might sound like an unusual choice, since this is a country with one of the longest standing socialized Health Care systems on the planet. Everyone here (including resident foreigner), are required to pay into the government-run health system, whether they use it or not. But Limbaugh’s choice may also serve to advertise what many Americans traveling here for medical treatment already know: Costa Rica is a fabulous place for medical tourism. Life expectancy in this little Central American country surpasses that of the United States and at one point, back in the early 2000s when the World Health Organization rated countries’ general health, Costa Rica ranked higher (No. 36) than its northern neighbor (No. 37), despite spending 87 percent less on health care per capita and the coverage extends to 86.8 percent of the population. People travel to Costa Rica and receive the same quality of medical services for a fraction of the cost. Lower labor costs and fewer malpractice suits keep the prices down.

On a later program, Mr. Limbaugh clarified his comment about leaving the United States, after “the liberal media” celebrated his vow of self-imposed exile, viewing healthcare reform as a way to rid themselves of the conservative talk show host. “If I have to get thrown into this massive government health care insurance business and end up going to the driver’s license office every day when I need to go to the doctor, yeah, I’ll go to Costa Rica for treatment, not move there,” he told listeners. There’s a difference between the healthcare systems that serves people living in Costa Rica verses that which is known to foreigners, according to the Heritage Foundation. “It’s the private option for foreigners that Mr. Limbaugh was referring to when he said he would go to Costa Rica.” But there’s another arm of the country’s medical system – the public system – which is relied upon by a majority of the population. Though it provides “universal access,” it’s often criticized for long wait times and delays in treatment.

Of course, if Limbaugh decided to move to or buy real estate in Costa Rica, he wouldn’t be the first celebrity. His neighbors might include actor Mel Gibson, model Gisele Bundchen, AOL executive Steve Case, or Vice President Joe Biden’s brother, Frank.

North American Retirees: A Costa Rican National Priority

costadevelopers — Sat, 20 Feb 2010 17:02:30 +0000

The Costa Rican government has declared retirement communities, aimed at attracting foreign pensioners, to be “of national interest.” Plans to create “retirement clusters” providing complete health services for older adults are seen as a profitable prospect. Noting the rapid development of the “health cities” in Mexico and Panama, Costa Rican officials and entrepreneurs are poised to tap into the perceived gold mine among middle and upper-middle class senior citizens of industrialized countries. The concept is simple, and includes slashing red tape to the minimum by providing one-stop residence permits at the Migration Directorate, so that foreigners, especially the well heeled, can come to live in the country. Tax exemptions on real estate and vehicles are on offer, and a promotional campaign aimed at older adults abroad will be run by the Costa Rican Institute of Tourism (ICT). The government will also boost training of human resources such as health personnel through the Costa Rican Social Security system, and seek to attract investment.

While the country has been successful at marketing itself as an eco-friendly destination and a go-to place for medical tourism, the retiree population is now growing. Costa Rica has all the makings of a retirement destination: comfortable climates, top-notch health services, close proximity to the United States and Canada, and a stable democracy. This represents a bigger potential for Costa Rica than recreational tourism represented 25 years ago. The graying of America is irreversible, and Costa Rica is in a position to service this population. An estimated 7,918 Americans turn 60 years old daily, according to 2006 United States census statistics. They represent the age group with the greatest purchasing power and the group that spends the most on health care. Several government agencies met to create a nationwide initiative designed to transform the country into a retiree haven. As a result, representatives from the Competition Ministry, along with the Foreign Trade Ministry, signed a declaration of intent to further explore opportunities to cater to aging adults from the U.S.