Foreign Direct Investment in Costa Rica Drops By Nearly 50% In The First Quarter

According to the Central Bank of Costa Rica foreign direct investment (FDI) fell by nearly 50% in the first quarter of 2014 compared with the same period in 2013.

In the first three months of 2014, the inflow of foreign capital to productive projects was $483 million compared to $925 million in 2013.

The decline was attributed mainly to a lower amount invested in real estate. This sector reached a record $377 million for the first quarter of 2013 however, in the first three months of 2014 it was only $218 million which is 42% less

According to the Costa Rican Coalition for Development Initiatives (CINDE), last year was an exceptional year for real estate investment. Gabriela Llobet, the Director General of CINDE said that: “The difference in quarterly amounts largely explained by a decline in the real estate sector. This does not necessarily represent a trend, since this type of FDI has business cycles…”

In another important news item announced this week, the National Wages Council (CNS) yesterday approved a general increase of 2.35% for more than one million private sector employees in Costa Rica.

In addition to that percentage, workers earning less than ¢302,535 (US$564) per month will receive ¢5,000 (US$9.32) more, these are people in the unskilled labor category.

For example, a person with the minimum wage of ¢266.942 (US$497) per month will now earn ¢278.215 (US$518) per month from the second week in July.

Written by Scott Oliver, author of 1: How To Buy Costa Rica Real Estate Without Losing Your Camisa, 2: Costa Rica’s Guide To Making Money Offshore and 3. ¿Cómo Comprar Bienes Raíces en Costa Rica, Sin Perder Su Camisa?

Andrew Makarik

to@welovecostarica.com

Andrew Makarik is the main editor of WeLoveCostaRica, a fan of this sunny country. He is also a loving husband and a has a lovely daughter. By being a devoted family man and the biggest Costa Rica fan, he wants to make more people feel at home there. WeLoveCostaRica unites people and helps them find new home or a new travel destination. This website is a friendly community where everyone can find not only information, but also new friends and travel pals. Andrew is also passionate about IT and programming, so he himself maintains a friendly atmosphere in this cozy environment of WeLoveCostaRica.com.