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You can review current business statistics and information in the following articles on WLCR. https://www.welovecostarica.com/members/1991.cfm and https://www.welovecostarica.com/members/2016.cfm
The bottom line is that building costs per square foot or meter are determined by the building contract and construction specifications agreed to between the owner and the contractor. Without careful planning by a builder who has years of experience here in CR, the costs usually end up increasing as the construction process progresses. In Costa Rica, the construction problems that can cause delays and end up costing you more money are not predictable problems anyone from another country could have anticipated based on knowledge acquired elsewhere. Additionally, construction costs vary depending on the location of the building site. I’m presently working for a client who is in the planning stages of constructing a 7500 sq. ft. luxury home in an established subdivision in Santa Ana. The current costs to build his home according to the specifications he agreed to are coming in at $82 p/sq. ft.
According to the Latin American Business Chronicle, Latin America in general will face serious challenges in 2009 – especially tighter credit and cost-cutting – but the region is now in better shape than it has been during previous crisis and still offers good opportunities, according to Latin America division heads of leading U.S. and European multinationals surveyed by Latin Business Chronicle.
”No country anywhere can completely escape the effects of the economic slowdown, even if that country possesses abundant natural resources or enjoys internal prosperity,” says John Slater, vice president for Latin America and the Caribbean for U.S.-based Continental Airlines.
However, several executives also argue that Latin America is in better shape than ever to face the crisis. ”Latin America is an “expert” when dealing with crises and moving forward,” says Fernando Garcia, vice president for Latin America for U.S.-based American Power Conversion (APC). “Compared with previous crises originated internally, this time it is a crisis provoked by the international contagion and not by inherent problems in Latin America. In general, Latin American economies are quite healthy and that can speed up a recovery.”
There are two key elements that will help the economies of countries in Latin America face the current economic downturn, argues Hernan Rincon, Latin America president for U.S.-based Microsoft, the world’s largest software producer. The first is that countries in the region have, and are maintaining, sufficient foreign reserves to endure current conditions. Secondly, inflation in the majority of the countries has been stable and under control. “The current economic situation is definitely impacting all industries in the region and throughout the world,” he says. “Nevertheless, Latin America has maintained in recent years good macroeconomic conditions that will allow for a faster recovery from this current environment, compared to previous crisis that have impacted Latin America.”
While there clearly are several challenges that will face companies operating in Latin America in 2009, tighter credit tops the list, according to our survey. ”The biggest challenge facing many companies in Latin America will be access to credit,” says Leo Rodriguez, president of Latin America for U.S. based Emerson and Emerson Process Management.
The earthquake in Costa Rica on January 8, 2009 caused a great deal of damage as you can see in these before and after photos of the mountainous area where it literally stripped the forests and anything built on them from the face of the terrain.
http://www.ovsicori.una.ac.cr/pdf/6fotoscomparativasTerremotoCinchona.pdfI’ve been here for sixteen years and this is only the second seismic movement that I’ve been near enough for it to get my attention. The first was in 1994 and I was having lunch at a San Pedro eatery on a Saturday afternoon and most patrons ran out into the street. During this most recent quake on Thursday I was at home in Belen and it shook the paintings on my walls and I watched as my refrigerator danced. Fortunately, nothing broke and the only personal adjustment I’m making is to remove the large glass mounted painting from above my bed which could have fallen on my head had this event occurred while I was sleeping. Live and learn is what I believe in.
However, the poor Ticos that live up near the Volcan Poas didn’t fare as well as the hills slid into the valleys and poorly constructed dwellings collapsed with several habitants inside. The Ticos are resilient and this natural disaster just like the annual torrential rains that cause flooding and mudslides on the eastern slopes, Caribbean coast and in the Quepos, Parrita areas, don’t deter them from fixing up their dwellings and moving back in.
If people don’t live, learn and react to immanent danger, are they still victims, or have they accepted the risk and become willing participants?
The live for the moment concept is an accepted part of the culture in Ticolandia.Evidence of the functionality of the CR government is the fact that Seguro Social (CCSS) is adding 336 new medical specialists to assist its member patients with surgery and other procedures that have been backlogged. The CCSS is putting the needs of the Costa Rican’s ahead of profitability.
Socialism can be counted on to produce an improved society as well as a welcomed increase in exercisable democratic options and economic prospects.
Democratic socialism, although not an American archetype, must be seen as a contending form of democratic expression that is now increasing in popularity throughout Latin America. It will surely develop as the middle class grows and demands more of the same social programs and services which political leaders offer in their campaigns to be elected.
Economic progress in the past decade has helped give Costa Rica a sense of legitimacy as well as extra funds for the improvement of the social sector, which allows for some of the benefits generally associated with the middle class to become more widely available.
Additionally, given the number of ICE employees commuting daily to the Sabana area, eliminating the pollution from their vehicles could significantly improve the air quality in and around the park as well as for those who live and work close by.
I think a weekend afternoon meeting makes sense since some VIP members work during the week and others live outside of the San Jose area and the return drive home at night may prevent them from attending an evening function. Keep us posted!
SPRITE. These were recommendations offered by others, not my opinions, as I clearly stated in the opening sentence of my post. “I appreciate all wisdom offered and especially enjoyed these recommendations”
As I read your concerned remarks about the current state of the economy where you are currently surviving, I truly hope the best for you and your neighbors. Remember, according to Maravilla, “it’s a recession when your neighbor loses his job, it’s a depression when you lose your own.” If your still working and making money in the USA, you’re blessed.
Down here in the jungle, most of us have yet to feel the depressed financial vibrations resonating throughout the rest of the world. In fact, as the rest of the global economy falters, more people are purchasing property in CR. I’ve had more work in the last six months than all of last year. Gracias a dios!Another reason Costa Rica will overcome any new challenges resulting from the world-wide economic crisis is from their participation in the Central American Integration System (SICA) http://www.sica.int
SICA member countries promote the process of political, economic, social, cultural, and ecological integration as well as to maintain peace, freedom, democracy and development, based firmly on respect, protection and promotion of human rights of the Central American region.
Utilizing their combined resources, Belize, El Salvador, Guatemala, Honduras, Nicaragua, Panama and Costa Rica have a far better chance of avoiding the economic impact of the rest of the world’s financial problems.Positive insight brightens my day. Thanks.
I agree with your view that the Tico’s are bright enough to overcome the imported problems of others.
Costa Rica’s small size and under-development has worked to its advantage by aiding in the prevention of becoming severely infected with the widespread global economic crisis.
Thanks to its own underdevelopment, Costa Rica is more flexible than large industrialized countries. This flexibility to move quickly with preventative measures has enabled Costa Rica to avoid most of the current financial crisis.
Costa Rica’s Independent Democracy continues to attract Capitalism and Capitalism in the form of Foreign Direct Investments provide new opportunities for Tico’s.
During the past two decades a series of political and economic windfalls have blessed Costa Rica. Economic stability has grown and large multi-national companies have moved in and are now conducting business in new facilities that have created many new jobs for Tico’s.
Many economists agree that Costa Rica is indeed heading in a positive financial direction, but this trend is not the only development catching the eye of the international community.
The rise of social democracy, putting it into action in the form of constitutional amendments incorporating key social programs is improving the life of Costa Ricans from all levels of society. The new rapid pace of growth and development in Costa Rica has been be made possible through the opening of society and Foreign Direct Investment.
The Tico’s are no longer leaving their future completely up to chance.
I appreciate all wisdom offered and especially enjoyed these recommendations:
1. Hide the metals under the house instead of building with them.
2. If you don’t understand how to conserve or create wealth, inform yourself. One doesn’t pilot a plane before knowing how to. At least learn how to use a parachute.
3. These three Stocks are still your best bet in the short term and the long run during troubled times.
a. STOCK-piles of food in the cupboard.
b. Live-STOCK in the yard.
c. And a STOCK-ade around your home.4. This would never have happened if they had not invented the computer.
5. The best minds of wall street are currently clueless and reduced to throwing money at things with no plans and hoping they will go away. What hope do we mortals have? Let’s hope help is on the way.
6. Stuff that if you drop it on your foot it hurts are the only real safe investments.
7. For the past 3 months no one has been able to take delivery of gold or silver at the London fix. Mints are running 24/7 and can’t keep up with demand.
8. Gold has tripled in value over the last seven years, vastly outperforming Wall Street and European bourses.
Thanks to all and to all a good night!
Are most U.S. banks are bankrupt?
Jim Rogers, one of the world’s most prominent international investors, on Thursday called most of the largest U.S. banks “totally bankrupt,” and said government efforts to fix the sector are wrongheaded. “What is outrageous economically and is outrageous morally is that normally in times like this, people who are competent and who saw it coming and who kept their powder dry go and take over the assets from the incompetent,” he said. “What’s happening this time is that the government is taking the assets from the competent people and giving them to the incompetent people and saying, now you can compete with the competent people. It is horrible economics.”
http://www.reuters.com/article/newsOne/idUSTRE4BA5CO20081211My concern is that if the SEC can allow over $50 Billion to vaporize right under their noses, could the FDIC allow a crisis of equal or worse impact to occur in the banking sector.
Are the SEC, the investment watchdog and the FDIC, the banking watchdog, of equal importance, having the same authority powers in their respective sectors?There has been an excellent RV park in Belen, Heredia since 1973. The owners live on site and rent out various different sizes of spaces short and long-term.
Common facilities including baths and laundry are included and the park is conveniently located, just a short walk to the retail stores in the center of San Antonio de Belen, where guests can purchase everything they need.
