Costa Rica lies between Panama and Nicaragua and it is bordered by the Caribbean Sea to the east and the North Pacific Ocean to the west. It is comprised of 51,100 square kilometers and the territorial waters take up about 589 square kilometers. It is considered a conglomeration of a number of landforms. The location of the country in the isthmus of Central America makes it easier to access American markets, which have the same time zone as Central US and also has access to Europe and Asia via the Oceans.

The economy is based on agriculture. This includes the production and export of pineapples, bananas and coffee. The country’s exports from the free trade zones and tourism sectors led to significant developments in the growth rate of the GDP. Costa Rica is also a producer of cocoa, sugar, lumber, wood products and beef. In recent years, ecotourism, pharmaceuticals, financial outsourcing and software development have become major industries with significant contribution to the country’s GDP.

Lately, other industries like electronics, pharmaceuticals, eco-tourism, financial outsourcing and software development are now becoming major industries. There are a number of high tech companies which have sprung up in the area, including chip manufacturer Intel and Pharmacy companies like Procter & Gamble and Glaxo Smith Kline. Costa Rica is also self reliant in energy needs, with exception of oils- and has the potential to be an electricity exporter, as it already exports to Central America.

The unit of currency of Costa Rica is the Colon (CRC). This currency trades at 500 to the US dollar and at around 600 to the Euro. A new system that is expected around 2007, will see the Colon currency float between two bands. The Central bank will be better positioned to handle inflation and discourage the use of the US greenback with the use of this system.

In March 1998, the country joined other Central American nations, and the Dominican Republic to establish a Trade and Investment Council with the United States. It has also clearly showed a willingness to join the North American Free Trade Agreement (NAFTA). Costa Rica is also a member of the Cairns Group, which is pursuing a policy of global agricultural trade liberalization in World Trade.

Source

Today the telecommunications industry is huge in Cost Rica and continues to boom.  Supplying jobs in the tens of thousands the Costa Rican workforce and wages have increased in these areas.  The education, experience, English level and knowledge of the North American culture make it difficult to find “cheap” labor costs.  You will pay much less than you would in the state for a comparable or higher quality of employee but for offshore outsourcing you will pay more.

The idea in today’s market is to compete, maximize your operating costs and ultimately increase your bottom line.  Outsourcing is a double edged sword and though you can save more in countries like India and the Philippines the quality may not allow you to compete in turn bringing your profitability down.

Costa Rica allows you to save money while at the same time maintaining your level of excellence in order to compete in your industry.  This is why so many companies in the US choose Costa Rica as there satellite head quarters because it’s a win, win across that board.

For more Offshore Outsourcing Information contact us!  Get a FREE Quote Today!

Omar Pinto
omar@offshoresavingsolutions.com
Offshore Saving Solutions
310-928-3765