Top Latin American Country awarder by FDI “Foreign Direct Investment”

                   

Costa Rica Number One of the Caribbean and Central American countries of the future "2011/12

Rankings Jacqueline Walls Thursday 11 August 2011

Costa Rica has climbed from second position to be ranked as the most attractive country in the Caribbean and Central America for foreign direct investment.  

Costa Rica’s dominance ... Costa Rica has been awarded by FDI the number one country of the Future “2011/12”. The best between the Caribbean and Central American Countries

The Dominican Republic claimed second position followed by Trinidad and Tobago in third.

http://www.fdiintelligence.com/Locations/Americas

Based on this very interesting evaluation from FDI, I think is worth to consider some of the Top Reasons why you might want to think about moving to Costa Rica full or part time:

Once you get to know this beautiful country on your next visit, I believe you will experience the Mystical power of Enchantment. That is what got me here in the first place, and to tell you the truth, looking at the world’s economic situation, which has been severely wounded by the ill actions of those corrupted by power, I am comfortable saying that Costa Rica has suffered several scratches but they will heal easier and faster than the deep wounds of other countries in the world.

Let’s start by saying that prior to the economic crisis; Costa Rica has enjoyed a stable economic growth for the last 20 years.

According to some sources, the economy suffered a contraction of 0.7% in 2009, but resumed its growth at around 3% in 2010.

Even though the growth is base on Exports and Tourism, let’s analyze its performance:

Exports:      Traditional:  Banana, Coffee, Sugar, and Pineapple.

                    New Exports:  Microchips

Tourism:     Traditional:  Tourist related services are still the backbone of the economy.

                   New Orientation of tourism:  Ecotourism.

                   The fact that Costa Rica has such impressive bio-diversity makes it a-key destination for Ecotourism.

U.S. business magazine Fortune ranked San José Latin America’s fifth best city in which to do business and placed it within the 25 best cities in the world.

Now, let us go through some of the reasons why foreign investors are still attracted to Costa Rica despite the Global economic crisis.

·    Enduring political stability.  In fact, The World Bank recently selected Costa Rica as the most stable country in Latin America.  As you already know, Costa Rica has had a strong, democratic government without interruption since the 1940s.

·    Very good centralized banking system appropriately regulated.  

·   The trend towards an open economy and possible trade pacts with such nations as the United States and Mexico are conducive to investment in Costa Rica.

·    Privatization of many state-run institutions will undoubtedly help economic growth in the future.  There are also no government expropriations or interference, unlike in many other Latin American countries.

·    Costa Rica is easily accessible from all parts of the world by land, sea, or air.

·    Reliable phone and Internet systems link Costa Rica internationally to other parts of the world.  

·    Investors in Costa Rica have equal rights and laws to protect them and it show in the regulations for conducting business in Costa Rica, they are the same for both local and foreign corporations.  Both can fully own and control local corporations, as well as real estate without any access limitations or restrictions.

·    Many opportunities await foreigners who start new businesses previously nonexistent in Costa Rica.  

·    Cost of labor is low.

The points above are worth to consider for those who are looking at retirement instead to investment; however, there are specific reasons to consider Costa Rica as Retirement Destination.

·    The Costa Rican Government is pro-American.

·    You can arrange direct deposit of your Pension in your bank account in “Banco de Costa Rica”.

·    Your Medicare benefits are honored in this country.

·    Cost of Medical care is low and the quality is high.

·    Weather wise, is the perfect weather your doctor has recommended.

Additional reasons for investing in Costa Rica are:

·    Asset protection through the Corporation under the label of S.A., which means Sociedad Anonima, in English Anonymous Association.

·    It is not necessary to become a resident to own or manage a business. 

·    Anyone who owns a business can import some items used to operate it and get a tax break on some of the usual duties.  Contact the incentive section of the Costa Rican Tourism Institute (ICT) for more information about incentive programs.

·    Tourism is now the leading industry in Costa Rica and numerous opportunities exist in this field if you choose the right location and are willing to deal with the red tape and competition.

·    Foreigners can invest with Costa Rica’s nationalized banking system or private banks.  Interest rates are a little higher than in the United States and there are many attractive savings accounts and time deposit programs from which to choose.

Therefore, if you are thinking about relocation in a serious way, you might want to consider Costa Rica as one of your good options.

After all, good choices come from good options.

If you are looking for a place with a lower cost of living, "Check This Out"

We have been living in Costa Rica for the last 6 years and going through all this economic turmoil, sometimes is difficult to have a clear picture of how we are in relationship of other countries Cost of Living.

So, I decided to do a little research and find out if our decision of choosing Costa Rica as our Retirement Home was still that little corner of paradise we dreamed of.

After surfing for information, to my delight I found that Costa Rica is still a great country with a low Cost of Living and a lot of interesting benefit that I would like to share with you in my next post.

The web site where I found this information is:

http://www.numbeo.com/cost-of-living/

This information seems to be as reliable as the information on the surveys from Mercer LLC, Consulting Group and The World Factbook, which makes me feel that the Information I am sharing with you is accurate.

Country	United States	Canada	France	Germany
Consumer Price	13.71% Higher	38.57% Higher	60.20% Higher	36.47% Higher	Than	COSTA RICA
Consumer Price including Rent	21.10% Higher	43.14% Higher	60.20% Higher	37.46% Higher	Than	COSTA RICA
Rent Prices	53.30% Higher	63.63% Higher	66.24% Higher	41.91% Higher	Than	COSTA RICA
Restaurant Prices	20.71% Higher	52.82% Higher	104.10% Higher	52.91% Higher	Than	COSTA RICA
Groceries Prices	9.43% Lower	26.03% Higher	13.01% Higher	0.53% Higher	Than	COSTA RICA
Local Purchasing Power	110.62% Higher	96.51% Higher	61.68% Higher	111.63% Higher	Than	COSTA RICA

Numbeo is the biggest free Internet database about cost of living and housing indicators worldwide!

Numbeo is a collection of Web pages containing numerical data, designed to enable anyone to contribute or modify content.  Numbeo provides statistical analysis of collected data, calculates various indexes using aggregate data and periodically publishes analysis of collected data.

In the past 18 months, 169711 prices in 1725 cities entered by 16594 different contributors (information updated 2011-08-11)

 

One of the biggest holidays in Costa Rica is a religious holiday "La Virgen de los Angeles Day"

"Virgen de Los Angeles Day" is one of the most important holidays in Costa Rica. Costa Ricans consider “The Virgin of the Angels” as their patron saint, because of the dark complexion of the stone statue, she is sometimes affectionately called La Negrita, or Reina de Cartago (Queen of Cartago).

It is fascinating how for over three centuries Costa Ricans have been placing their hopes and spiritual well-being in the hands of the beloved “Virgen de los Angeles”. Many Ticos (Costa Ricans) have had personal experience with some type of miracle performed by their patron saint, and almost everyone knows somebody who has been the subject of a miracle, ask any Tico. This is a country where religious beliefs have become a core part of the individual’s identity and even a part of the government’s overall portrait.

The story around this glorious holidays goes back to August 2, 1635 and talks about a little girl by the name of Juana Pereira from Cartago, who found the small statue on a rock and took it home because she thought she had found a cute little doll with a baby in her arms. The next morning she found that the statue (her new toy) was not there, and when she went to pick up the wood for the fire, she found the statue back at the rock; so she took it to the priest and he locked it in a small box thinking that it would be safe. The next morning the statue was not in the box and Juana the little girl, found it again back at the rock when she went to pick up wood. The priest of the Cartago church told everybody that the statue represented the Virgin Mary and she wanted to be there. Therefore, the community got together and started building the special church for her.

During the construction, earthquakes destroyed the church so many times, it was finally decided to move it to the location where the statue was found, and they were able to finish construction. Many people think that the earthquakes were signs that “La Virgen de Los Ángeles” wanted the basílica built there. The Basílica de Nuestra Señora de los Ángeles is located in the city of Cartago. This basílica was built in 1639 and was partially destroyed by an earthquake. The basílica has since been restored and constitutes a unique mix of colonial architecture as well as 19th century Byzantine style.

The original statue of The Virgin of the Angels is kept in a golden shell inside the basílica. An official decree issued on September 24, 1824, declared “La Virgen de los Angeles” the official patron of Costa Rica. The celebration takes place on August 2nd with religious pilgrimages from San José to the Basílica de Nuestra Señora de Los Angeles in Cartago. Tourists and locals visit this basílica equally.

Close to 2 million "Pilgrims", including Costa Rica's president Laura Chinchilla, who walked from the Parque de Tres Rios, will be in Cartago this morning to pay homage to The Virgin of the Angels. President Chinchilla told the press that the walk is a personal commitment, as well as one of duty as president.

Although the ceremony is today, the pilgrimage began days and weeks ago, with some people walking hundreds of kilometers from the farthest reaches of Costa Rica.

What this fascinating exercise of faith means to me is the fact that no matter what religion, color or faith we prefer or profess, if we believe in a power higher than ourselves we can feel reassured that we are being protected and taken care by that superior power. In Costa Rica, Ticos have placed their faith in “La Virgen de Los Angeles”.

Today is her Day.