2020 had a powerful impact on the Costa Rican economy, leaving a contraction of 4.5% because of the effects of the coronavirus pandemic, which represents the worst drop since 1982, according to information from the Costa Rica Central Bank.
However, and despite the complicated economic situation, the country continues to be a destination for foreign investment by nations that trust in the recovery of their economy.
Its political and social stability, strategic location, good business climate, free trade agreements, and solid infrastructure are the basis that helps to maintain that atmosphere of trust for investors.
- Currently, about 330 multinational high-tech companies operate here with 5,200,000 inhabitants and 19,720 mi2 (51,079 km2).
- 62.2% of total foreign investment comes from the United States.
- 51% of the investments are in the manufacturing area and 21.8% in services.
- The US is the primary destination for exports (39.2%) followed by the European Union (20.6%) and Central America (21.5%).
- The main industrial export product of Costa Rica is medical devices, for an approximate amount of $3.3 billion, which represents 5% of GDP and 29.4% of exports.
Costa Rica Investment projects 2021
A significant number of companies have announced their investments for 2,021 and the workforce that they would be required. These are some companies and their investment projects.
This technology company, which currently has 2,400 employees in the country, has an investment project of $350 million in three years.
Its plan for this year is to create 202 jobs for professionals in technical and administrative areas (electronic, electromechanical, and related engineering, administration, human resources, and finance). Job offers can be viewed on their website www.intel.com/jobs.
Amazon Web Services opens a new Costa Rica office to support the growth of cloud computing in the country. The company will invest in the local market by hiring highly trained engineers, network specialists, account managers, and other roles to work at the new offices. Amazon arrived in Costa Rica in 2008 and currently has a total of 14,000 employees in the country. These job offers are posted on amazon.jobs.
This company, present in Costa Rica since 2009, is a technology-enabled global business services company specializing in customer engagement and improving business performance. Currently, it has five delivery centers (three facilities in San José and two in Heredia) and more than 4,500 staff. Their plan is to hire 1,300 to its call centers across the country. Concentrix job offers.
MicroVention-Terumo, a U.S.-Japanese company in the life sciences sector, will expand its Costa Rican operations with an investment of $80 million for the construction of a new 20,000-square-meter plant in Alajuela’s Coyol Free Zone. This Project will generate 2,000 more jobs in various administrative, operational, and engineering areas. The company launched its Costa Rican operations in 2,012 and currently employs 1,700 workers. The company manages in the country two manufacturing plants dedicated to creating medical devices used in endovascular therapies, to treat vascular and brain diseases. New job offers are posted on their website.
At the end of 2,020, SYKES, a company that provides services and solutions for outsourced customer contact management, opened a branch in the city of Liberia, Guanacaste Province. This company plans to hire 600 employees in the next 18 months to fill vacancies in the areas of customer service, programming, cybersecurity, and Big Data. To apply for a position, people must have an English level equal to or greater than 85% and must apply through their website.
This multinational electronics company announced last February its $10 million investment project to expand its operations in the country. The goal is to replace a production line that is currently operating in Asia. The new warehouse and the improvement of the existing infrastructure will allow to manufacture of Triple-A batteries and increase throughput on the Double-A battery production line.
Although this project will not generate new jobs massively (only 25 new jobs), it is still a sign of Panasonic’s confidence in Costa Rica.
Currently, 80% of its production in the country is exported, primarily to Mexico, the United States, and Peru.
Job offers are posted on their website.