Costa Rica
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Economy

The Costa Rican economy has seen its fair share of ups-and-downs suffering from slow economic growth to capitalizing on its natural resources that it has to offer in the agricultural and tourism sectors. However, poverty and unemployment continue to strain the small, Central American country that relies a great deal on the United States as its biggest import and export partner. Accumulation of government debt and the poor conditions of Costa Rica's infrastructure have become a speed-bump in its efforts to move toward a positive economic outlook. Nonetheless, with increasing focus on organic produce and ecotourism, the country seems to have found its most profitable commodities.

Costa Rica – Yesterday

After World War II, Costa Rica pushed itself to find other means of self-sufficiency in food production and farming support. It also started looking toward importing alternatives and trading partners in Central America, which led to positive GDP results and income until the 1970s. During this time, prices for items such as coffee, one of the country's largest exports, plummeted while oil prices sky-rockted. Costa Rica ended up looking toward world banks and others for assistance after it stopped paying back the debt it had accumulated. The result was a narrow focus on exporting agricultural products, which had negative impacts on the people and land.

Costa Rica – Today

The tropical country's location may be its best economic resource. It boasts the best living standards in the central region. Being surrounded by beaches and offering a lush, green setting have made it a popular retiree destination. Costa Rica's natural environment has made it the most-visited Central American country, thus its tourism economy especially in the ecotourism market has been a major economic contributor. Not only does the country invest in its environment (planning to be carbon neutral by 2021), but many companies are now looking at its residents, which have high levels of education, for opportunities.

 

Here are some related tips to help plan your trip to Costa Rica: Politics and Social & Environmental Issues.








By Allison Carlton

I am. a traveling bard. a word warrior. who is. pursuing a search. a mission. an adventure. a quest. a voyage. a journey....

04 Nov 2010






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