| Of 115 countries, Costa Rica came in first in Latin America
and ninth in the world with respect to nations offering greatest
commercial freedom and protection for private business, according
to Freedom and Development, a Chilean research institute.
As a foreigner, you can invest in Costa Rica and even start
your own business with only a few restrictions.
If you plan to go into business here, it is very important
to be aware of the local consumer market in order to succeed.
Most of the country's purchasing power is located in the
Central Valley. A total of 75 percent of the country's population
resides in the central provinces of San José, Alajuela,
Heredia and Cartago. About 60 percent
of the population is under than 30 years old. Intelligent
business people will try to meet the needs of this group.
You may also think about targeting tourists and upper-class
Costa Ricans. A wealth of opportunities is available in tourist-related
businesses. Upper-class ticos have a lot of disposable
income and the greatest purchasing power. They do not mind
spending a little more on good quality products. Just look
at their expensive designer clothing, their expensive imported
automobiles and many palatial homes.
The majority of the country's middle-class consumer values
are now more akin to their U.S. counterparts. You can see
this starting to take hold with a number of shopping malls
being built around the Central Valley and the popularity of
stores such as Radio Shack and megawarehouses like PriceSmart
and Hipermás. Middle and upper lower class Costa Ricans
seem to want all of the goodies so much that sales of cellular
telephones have temporarily exceeded the availability of cellular
phone lines.
One group to target is the lucrative foreign-resident market.
There are approximately 50,000 full-time foreigners living
in Costa Rica. All you have to do is look for a product to
fill their needs. Most yearn for hard -to-find-products from
home and would rather buy them in Costa Rica than go to the
United States to shop.
Costa Rica is ripe for innovative foreigners willing to take
a risk and start businesses that have not previously existed.
Start up costs for small businesses are less than in the United
States or Canada. Many of the same types of businesses that
have been successful in the North America will work if researched
correctly. There is definitely a need for these types of businesses.
You just have to do your homework and explore the market.
Be aware that not everything that works in the United States
will work here. Also you may have to adapt your idea due to
the vagaries of the local market and different purchasing
power. Don't get any grandiose ideas since the country only
has about 4 million people. You cannot expect to market products
on a large scale as in North America.
Costa Rica's local artisans make scores of beautiful handcrafted
products such as furniture, pottery and cloth. With so many
choices, a smart person can find something to sell back home.
These are some potential business opportunities worth exploring:
building and selling of small homes for middle-class Costa
Ricans or foreigners, an import-export business, desktop publishing,
computer services and support, U.S. franchises, importing
new foods, specialty bookstores, restaurants and bars, an
auto body and paint shop, consulting or specialty shops catering
to North Americans and upperclass Costa Ricans.
Costa Ricans love anything novel from North America. Many
stores sell both new and used trendy U.S.-style clothing.
Costa Rican teenagers dress like their counterparts in the
United States and even watch MTV. U.S. fast-food restaurants
such as Taco Bell, Burger King, Pizza Hut and McDonald's are
extremely popular. Real estate speculation can be lucrative
if you have the know how and capital.
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