Tourism and Export Sectors Grow Strongly in Costa Rica

The Tico Times reported that the Costa Rican economy has shown strong growth in the first quarter of 2010, with Tourism and Exports being the primary drivers.

Marco Piñon, the IMF mission chief for Costa Rica, visited the country during the second week of April to conduct the third and final review of the IMF's $ 735 million Stand-By Arrangement with the Costa Rican government, a line of credit approved by the agency in April 2009 to “support the country's strategy to cope with the adverse global economic environment.”

During his weeklong visit, Piñon said that thanks to strong financial and business resurgence in the first few months of the year, the Costa Rican economy stands in good shape for 2010 and that “economic recovery in Costa Rica is firmly underway”.

“Economic growth rose in the second half of 2009 and remained strong in the first quarter of 2010,” Piñon said. “Consumer and business sentiment have firmed up and financial conditions have continued to improve. … The government's strategy to shield the economy from external shocks with (IMF) funds, which in the event were not used, helped preserve confidence, maintain stability, and protect the most vulnerable groups. A supportive fiscal policy has provided a boost to the recovery and a cautious monetary policy has allowed inflation to move to low levels.”

On Wednesday, the positive outlook was reinforced by an announcement by the Costa Rican Tourism Board (ICT) that 65,800 more tourists visited the country during the first three months of 2010 than during the same period in 2009, an 11.5 percent improvement over last year. The ICT estimates that over 636,000 tourists visited the country in the first three months of 2010.

Further evidence of the recovery was provided by the Foreign Trade Promotion Office (PROCOMER), which reported on Wednesday that national exports during the first three months of 2010 increased 16.8 % in comparison with the first quarter of 2009. Through the first three months of the year, the country raked in over $2.4 billion in exports, $352 million more than during the first quarter of 2009. A 463 percent improvement in sugar sales was the biggest highlight of the export sector. Sugar exports accounted for $29 million more during the first three months of 2010 than during the same period last year.

Read the full story in the Tico Times:
"Tourism and export sectors show strong first quarter"

By Adam Williams
Tico Times Staff | awilliams@ticotimes.net

Costa Rica celebrates Earth Day and reiterates committment to Carbon Neutraolity by 2021

By Adam Willams, Tico Times

Apr. 23--Costa Rica celebrated the 40th anniversary of Earth Day on Thursday with a variety of events exemplifying the country's environmental commitment.

Kicking off the celebration was a panel discussion at the American Chamber of Commerce (AMCHAM) on renewable energy that included leaders in the field. Among the topics discussed was the country's push for carbon neutrality in 2021, solar energy, efficient use of water and the push for Costa Rica to obtain 100 percent of its energy from renewable sources.

"Some countries in Europe obtain only 10 to 15 percent of their energy from renewable sources. But here, 90 percent of our energy is renewable energy," said Teofilo de la Torre, who will be the environment and energy minister in the upcoming government of Laura Chinchilla. "Our goal is to have 100 percent of energy come from renewable sources, (and) reaching that goal will require contributions from everyone across the environmental sector".

De la Torre went on to explain that limiting the use of oil for electricity, maximizing the energy-producing potential of wind and "large amounts of imagination" will be needed to reach the goal of 100 percent renewable energy. He also said that the anticipated financing needed –from both public and private sources -- to reach that mark is estimated at $8 billion.

The panel also included Pedro Leon, coordinator of the Peace with Nature Initiative; Mike Forrest, general manager of Intel Costa Rica; Saul Kiersezenson, president of Clean Tech Cluster; Rodrigo Gamez, the president of INBIO; and Anne Andrew, the U.S. Ambassador to Costa Rica.

A number of schools throughout the country were also honored on Earth Day for their environmental commitment. More than 300 elementary and high schools were awarded an "Ecological Blue Flag" for their efforts to protect the environment during the year. The flags were presented to the schools by the Education Ministry and the Costa Rican Electricity Institute.

Click here to read the full story in the Tico Times

Cute Introductory Video to Costa Rica

Webinar recording

The webinar, "Money Grows on Trees - True or False" on Thursday the 15th was a great success, with attendees from all over the world.

They will receive their beautiful hand carved, gravity defying wine bottle holders, made with teak from Nature Walk, over the coming weeks.

We also recorded the webinar and you can listen to the webinar (or download it to your computer to listen at your convenience) in the Free Downloads and Media section of the Costa Rica Invest website.

Costa Rica and Singapore SIgn Free Trade Agreement

Costa Rica has signed a free trade agreement with Singapore

The agreement will immediately cover 90.6% of Singapore's exports to Costa Rica and 100% of Costa Rica's exports to Singapore.

The remainder of Singapore's exports into Costa Rica will become tariff and tax free over the next 10 years.

You can read the full story on Asia One Business

The ecological subdivision – a new concept in Real Estate

Costa Rica Invest and PRG Global Realty have recently launched Nature Walk close to Jaco, Costa Rica.

This development represents a totally new concept in real estate - the ecological subdivision.
Costa Rica Invest and PRG Global Realty have recently launched Nature Walk close to Jaco, Costa Rica.

This development represents a totally new concept in real estate - the ecological subdivision.
Fully serviced development lots in Nature Walk, come with the added benefit of 12 year old teak growing on them.

This teak growing on the lots provides additional security and returns for the purchasers of these lots.

James Cahill, from Costa Rica Invest comments “Nature Walk provides an ideal opportunity for both straightforward investors, wanting to benefit from future increases in land prices in Costa Rica, and also for those investors with a medium term plan to build a home in Costa Rica. When investors look at land banking as an investment opportunity, they are entirely dependent on an increase in land prices to generate a return on their investment and that return is only realized when the land is sold. With teak growing on the land, the returns from the teak combine with the appreciation of land prices to provide a double return.”

Tim Alexander, from PRG Global Realty adds “not only is Nature Walk ideal for pure investors, providing an attractive entry into the Costa Rican land market with the added returns and benefit of teak., but it is also ideal for those seeking a second home in Costa Rica. The return from the teak harvest on one or more lots will cover the entire costs of land purchase and provide a significant contribution to the building costs of your home in Costa Rica.”

Nature Walk has launched with a very attractive launch offer, offering initial lots at half the retail pricing with a 10% pa yield paid for 3 years by the developer.

Under the initial launch offer, purchases can be structured to provide full capital purchase cost repayment in 4 years, leaving initial purchasers with 60% of the initial land purchased and the added benefit of 16 year old teak trees growing on their fully serviced lots.

The teak can then be sold and the land developed or sold on in another 4 years.

Returns from the teak and any partial land sale at that time can be used to finance the building costs of a home on the remaining land

Webinar - Nature Walk & receive a FREE teak wine bottle holder

Nature Walk Turribares, Costa Rica

Join us for a Webinar on April 15

Space is limited.
Reserve your Webinar seat now at:
https://www2.gotomeeting.com/register/883233586

James Cahill, Costa Rica Invest, will introduce an opportunity to invest in Nature Walk, Turribares, Costa Rica.

This early opportunity is suitable for investors - giving a guaranteed yield, reduction on retail pricing entry point and it comes with the added benefit of 12 year old teak.

The opportunity is also suitable for those with a medium term plan of having a home in Costa Rica.

The developer has apportioned just 6 ha to the pre-formation lot opportunity, so you will need to be ready to purchase.....

Better still, as a small thank you for attending we would love to send you a FREE gravity defying teak wine bottle holder. This is hand carved from teak from Nature Walk. So don't forget to give your full address details and we'll ship direct to your door after the webinar.

Title: Nature Walk Turribares, Costa Rica

Date: Thursday, April 15, 2010

Time: 1:00 PM - 2:00 PM EDT


After registering you will receive a confirmation email containing information about joining the Webinar.

System Requirements
PC-based attendees
Required: Windows® 7, Vista, XP, 2003 Server or 2000

Macintosh®-based attendees
Required: Mac OS® X 10.4.11 (Tiger®) or newer