Costa Rica International Business Environment - 3510 Words

Executive Summary Costa Rica is a country that offers many amenities. Here, you will find everything from sun kissed beaches and lush landscapes to breathe taking waterfalls and awe-inspiring volcanoes. You will also find the people friendly and the culture warm and welcoming. Living or vacationing here is very affordable, which is why more and more North Americans and others are choosing Costa Rica as either their home away from home, second home or their retirement destination. The sand, sun, swimming, and seniors, yes, even senior citizens need and enjoy the pleasures of tropical vacations and getaways. So many times all the best resorts are geared specifically for the young vacationer. However, due to the dynamic foresight of DJD†¦show more content†¦The Costa Rican flag is represented below. Flag of Costa Rica The Economy The last 15 years in Costa Rica have brought about many changes in the economy. Costa Rica is the only country in Central America to have industry profits out number agriculture as the main source of revenue. Technology and tourism account for the main Gross National Product (GNP) producers respectively. The Gross Domestic Product (GDP) is 2001 was $15.2 billion. The inflation rate for 2001 was 11%. Per capita income in 2001 was $3850 U.S. The currency in Costa Rica is the Costa Rican Colon (CRC) and the U.S. dollar. Total exports to the U.S. in 2001 were $3 billion with imports from the U.S. at $3.2 billion. The current exchange rate with the U.S. dollar is $1 U.S. equals 437 Costa Rican Colons. Costa Rica invested approximately $531 million in the U. S. in 2001 with U.S. investors spending approximately $781 million in/on Costa Rican investments. Tourism in Costa Rica generates approximately $2 billion a year with tourists numbering over 1 million. Hotel chain giants s uch as Marriott, Hilton, and Four Seasons are generating very nice profits in Costa Rica with each successive year better than the last. Other major investors are Itel (employs 2,000 people at a $300 million dollar processor plant), Microsoft, Proctor and Gamble, Unysis, and Acer. Natural resources include hydroelectric power,Show MoreRelatedEssay On Rica Business1610 Words   |  7 Pages Business Conduct in Costa Rica Costa Rica is located right above South America bordered by Nicaragua, Panama, the Caribbean Sea, and the South Pacific Ocean. Costa Rica was once a calm place to retire, but once more and more people started retiring with less money, they realized that living in Costa Rica cost less overall. Therefore, with such an increase in foreign business, the business life of Costa Rica also changed. Make sure setting up a business in Costa Rica is a good choice. 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