Costa Rica
Costa Rica July 2016. All Rights Reserved. The facts of this report are believed to be correct at the time of publication. Please note that the contents delivered are based on information gathered in good faith from both public and proprietary sources. As such, CINDE’s Department of Research can accept no liability whatsoever for loss or damage arising as a result of the use of this report, either in its published or online format.
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Costa Rica was inhabited by an estimated 400,000 natives when Columbus explored it in 1502. Costa Rica declared it’s independence from Spain in 1821. It became a Republic in 1848. José María Castro Madriz (teacher) was the last Head of State and the first President of the Republic The army was abolished in 1948 The official language is Spanish. English is widely spoken and understood in business setting. The official religion is Catholic though there is religion decision freedom Costa Ricans are called “Ticos” because of the suffix-tico at the end of each word which means small. “Pura vida” literally means “pure life”, and it can be used informally as a farewell, a greeting, a response, an agreement or as a way to say thanks.
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Population as of July 2014: 4.8 million (INEC, 2015) Labor Force: 2.3 million (INEC, 2015) Unemployment rate: 8.5% (INEC, 2015) Inflation rate: -0.81% (INEC, 2015) GDP: US$52.56 billion (BCCR, 2015) GDP per capita PPP: US$15,482 (IMF, 2015)
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The Costa Rican Government comprises three powers: Executive, Legislative, and Judicial. Costa Rica is one of the most politically stable countries in Latin America (World Bank. The Worldwide
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Governance Indicators, 2014)
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190 years of democratic tradition, and more than half a century without an army. Costa Rica is the safest country in Latin America (Latin business chronicle, 2014)
Sources: INEC, BCCR, IMF, United Nations and PROCOMER, 2015
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3rd in the world in the Global Green Economy Index performance measure 2014, (Dual Citizen, 2014) 26% of the territory is protected by conservation and natural reserves 5% of the world’s biodiversity 52% of the territory is covered by forest Almost a 100% of electricity is generated from renewable sources Clean energy production: hydroelectric, geothermal, biomass, solar and wind.
• Costa Rica has a tropical climate with an average temperature of 22C° (72F°) that increases on the coastal areas. • The changes in temperature are considerable and due to the short distances in this relatively small country, they can all be experienced in just one day.
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Costa Rica time zone is GMT-6 31% of the population with some level of university studies speaks English. English Proficiency in Latin America o o
Second place in TOEFL iBT (91 points), 2015 Second place in TOEIC (704 points), 2014
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Most of the Foreign Direct Investment in Costa Rica come from United States
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When first meeting someone, men will shake hands with other men in greeting. It is common for men and women to kiss other women on one cheek after preliminary greetings. It is common to call a gentleman Don (plus his first name) and a lady Doña (plus her first name). Don and Doña are translated as Mr. and Mrs., respectively.
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Make appointments in advance by email or phone and confirm before arrival. If you are invited for dinner to a home, a gift of wine, scotch, flowers or sweets is always welcomed
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Typical working hours are Monday through Friday, from 8:00 a.m. to 12:00 p.m. and 1:00 p.m. to 5:00 p.m. Resumes have no standard formatting. Always clarify to the applicant if the remuneration includes a bonus or is just base salary. Ticos are famous for being hospitable and are happy to live up to their reputation. They are very proactive, friendly, and negotiate in good terms Conflict is avoided, they are not confrontational and feel uncomfortable in this kind of situation They are quick to a handshake and a smile. They act with humility, regardless of wealth or status. Costa Ricans are relatively punctual
Costa Rica: Traditional Food
Costa Rica: National symbols
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Costa Rica was inhabited by an estimated 400,000 natives when Columbus explored it in 1502. Costa Rica declared it’s independence from Spain in 1821. It became a Republic in 1848. José María Castro Madriz (teacher) was the last Head of State and the first President of the Republic The army was abolished in 1948 The official language is Spanish. English is widely spoken and understood in business setting. The official religion is Catholic though there is religion decision freedom Costa Ricans are called “Ticos” because of the suffix-tico at the end of each word which means small. “Pura vida” literally means “pure life”, and it can be used informally as a farewell, a greeting, a response, an agreement or as a way to say thanks.
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Population as of July 2014: 4.8 million (INEC, 2015) Labor Force: 2.3 million (INEC, 2015) Unemployment rate: 8.5% (INEC, 2015) Inflation rate: -0.81% (INEC, 2015) GDP: US$52.56 billion (BCCR, 2015) GDP per capita PPP: US$15,482 (IMF, 2015)
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The Costa Rican Government comprises three powers: Executive, Legislative, and Judicial. Costa Rica is one of the most politically stable countries in Latin America (World Bank. The Worldwide
•
Governance Indicators, 2014)
•
•
190 years of democratic tradition, and more than half a century without an army. Costa Rica is the safest country in Latin America (Latin business chronicle, 2014)
Sources: INEC, BCCR, IMF, United Nations and PROCOMER, 2015
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3rd in the world in the Global Green Economy Index performance measure 2014, (Dual Citizen, 2014) 26% of the territory is protected by conservation and natural reserves 5% of the world’s biodiversity 52% of the territory is covered by forest Almost a 100% of electricity is generated from renewable sources Clean energy production: hydroelectric, geothermal, biomass, solar and wind.
• Costa Rica has a tropical climate with an average temperature of 22C° (72F°) that increases on the coastal areas. • The changes in temperature are considerable and due to the short distances in this relatively small country, they can all be experienced in just one day.
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Costa Rica time zone is GMT-6 31% of the population with some level of university studies speaks English. English Proficiency in Latin America o o
Second place in TOEFL iBT (91 points), 2015 Second place in TOEIC (704 points), 2014
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Most of the Foreign Direct Investment in Costa Rica come from United States
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When first meeting someone, men will shake hands with other men in greeting. It is common for men and women to kiss other women on one cheek after preliminary greetings. It is common to call a gentleman Don (plus his first name) and a lady Doña (plus her first name). Don and Doña are translated as Mr. and Mrs., respectively.
• • •
Make appointments in advance by email or phone and confirm before arrival. If you are invited for dinner to a home, a gift of wine, scotch, flowers or sweets is always welcomed
• • • • • • • • •
Typical working hours are Monday through Friday, from 8:00 a.m. to 12:00 p.m. and 1:00 p.m. to 5:00 p.m. Resumes have no standard formatting. Always clarify to the applicant if the remuneration includes a bonus or is just base salary. Ticos are famous for being hospitable and are happy to live up to their reputation. They are very proactive, friendly, and negotiate in good terms Conflict is avoided, they are not confrontational and feel uncomfortable in this kind of situation They are quick to a handshake and a smile. They act with humility, regardless of wealth or status. Costa Ricans are relatively punctual
Costa Rica: Traditional Food
Costa Rica: National symbols
