Costa Rica’s income from direct foreign investment and tourism has increased in the first three months of 2011, according to a report released by Costa Rica’s Central Bank (Banco Central de Costa Rica).
In comparison to January, February and March of 2010, Costa Rica’s income via foreign investment reached a total of $468 million. According to the economic division of the Central Bank, the commercial and tourism sector have been key players in this investment increase.
Costa Rica Tourism Sector’s Significant Contribution
In recent months the tourism industry has hit the headlines thanks to a series of high profile international
companies announcing their plans to expand or initiate operations in Costa Rica. Foreign company resource investment has increased by 16% in the first trimester of 2011.
Significantly, hotels and restaurant investment in Costa Rica has increased by 4.7%. The Central Bank report said that this is largely due to large corporations identifying an increase in international and national tourism, thanks to the worldwide economic recovery and the implementation of promotional campaigns.
Foreign investment generated by tourism arrivals in Costa Rica generated close to $668 million in the first three months of 2011—a 2% increase compared to the same period of time last year.