Costa Rica stands out as a premier nearshoring destination, offering a highly skilled, bilingual workforce, strong education system, and government-backed incentives. With tech hubs like San José and thriving industries in IT services, BPO, and call centers, Costa Rica provides businesses with a stable, innovative environment to expand their operations.
Costa Rica has established itself as a leading nearshoring destination, known for both its high-caliber tech talent and robust BPO industry. With over 45,000 tech specialists concentrated in IT hubs like San José, Heredia, Alajuela, and Cartago, the country is home to top-notch software developers, data scientists, and engineers. San José, often called the “Silicon Valley of Latin America,” ranks among the top three cities in Latin America for tech talent and skills. Each year, over 4,000 graduates enter the tech workforce, with strong skills in languages like Java, Python, and JavaScript.
Costa Rica also has a mature BPO sector, particularly in call centers and customer service for North American companies. The BPO industry spans back-office operations, HR, finance, and technical support, positioning the country as a versatile outsourcing hub. Continuous investment in education, at 6.5% of GDP, further bolsters the talent pool, ensuring professionals are adaptable to new technologies and industry demands.
While Spanish is Costa Rica’s official language, the country distinguishes itself in Central America with notably high English proficiency, especially among younger people and within the business sector.
In the English Proficiency Index 2022, Costa Rica ranks first in Central America and second in Latin America, just behind Argentina. Many Costa Ricans are introduced to English at a young age, receiving advanced language education in schools and universities, which is advantageous for businesses needing fluent English speakers. This proficiency is especially beneficial for Costa Rica’s thriving contact center and BPO industries.
Costa Rica’s government has implemented a variety of initiatives to enhance its appeal to foreign investors, particularly through robust trade agreements and incentives. As a member of the Dominican Republic-Central America Free Trade Agreement (CAFTA-DR) and with 15 free trade agreements spanning 58 partners, Costa Rica enjoys preferential access to 2.8 billion consumers, making it an attractive option for U.S. companies. The Free Trade Zone (FTZ) regime provides tax incentives, while a strong legal framework streamlines business registration, especially for nearshoring. Significant investment in education (6.5% of GDP) aims to build a tech-savvy workforce, complemented by planned technological parks and a tech city in San José to further boost innovation.
Costa Rica places a strong emphasis on education, dedicating 21% of government expenditure to it, surpassing OECD averages. The country ranks third in Latin America in the latest PISA rankings and boasts a 97.9% literacy rate. With five public and over 50 private universities, Costa Rica is known for its quality education, which has helped attract international companies. Recent initiatives include a dual vocational training system aligned with the Fourth Industrial Revolution.
Real GDP growth in Costa Rica is forecast at a strong 3.8% for 2024, following a 5.1% increase in 2023. The country’s GDP (PPP) reached $134.238 billion in 2023, with an exchange rate around ₡520-535 per US dollar by mid-2024. Foreign direct investment remains robust, especially in sectors like medical devices, technology, and business services, with over 800 tech companies operating in San Jose. However, Costa Rica must address challenges like potential U.S. economic slowdown, fiscal issues, and inequality while leveraging its strengths in exports, technology, and sustainable development.
$1 USD = 515.87 Costa Rican Colón
(CRC)
Costa Rican culture is characterized by friendliness, humility, and a deep sense of community. Ticos, as Costa Ricans call themselves, are known for their hospitality and politeness, showing warmth and kindness to both locals and foreigners alike. Many Costa Ricans, especially in tourist areas, speak English, and American music and culture are popular, particularly among younger generations. Strong family ties and social connections are central to daily life, and there’s a great pride in the country’s natural beauty and peaceful history. Costa Ricans cherish their “Pura Vida” lifestyle, reflecting their appreciation for simplicity and life’s small joys.
Costa Ricans use “Pura Vida” as a versatile phrase for hello, goodbye, or to express that everything is good.
“Pura Vida,” which translates to “pure life, is a cultural cornerstone in Costa Rica reflecting the national ethos of embracing optimism, resilience, and contentment, even amidst challenges.
Technology
Medical & Life Sciences
Business Process Outsourcing (BPO – Call Centers)
Digital Marketing and Creatives
Accenture
Amazon
Dell
HP
Microsoft
Capital: San Jose
Time Zone: (CST), UTC -6
Population: 5.14 Million
Currency: (CRC) Colón
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