Business

Britt To Invest US$4M in New Building For Its Morpho Travel Retail

Grupo Britt has announced it will invest US$4 million dollars for the construction of an office building for one of its new companies Morpho Travel Retail. Pablo Vargas (left) executive president of Grupo Britt and Adriana Echand, the new CEO of Morpho Travel Retail. Photo...

More Chinese TVs in Costa Rica

In 2016 imports of television sets in Costa Rica totaled US$100 million, and the value imported from China grew by 52%. In 2016, 60% of the value of imports to Costa Rica came from China In the past Chinese products were labeled with “cheap and low...

Doing Business in Costa Rica Is More Difficult, Study Reveals

The biggest challenge (roadblock) to doing business in Costa Rica is bureaucracy. The latest report shows 45% of business activity in the country is “informal”. Eight out of ten entrepreneurs claim that an excess of formalities and the high costs of formalization are the main...

Tegra Medical Expands Footprint in Costa Rica

Tegra Medical expands footprint in Costa Rica Tegra Medical, the Franklin, MA-based contractor manufacturer of medical devices has expanded its facilities in Costa Rica, with the announcement of the expansion of a 27,000-square-foot facility. The Costa Rica facility, located in the Global Park business park, in...

Payless Closures In The U.S. Does Not Affect Costa Rica

Q COSTA RICA – The Payless ShoeSource  filing for Chapter 11 Bankruptcy in the United States will not affect the 28 stores in Costa Rica. The company’s plans are to immediately close nearly 400 stores in United States, Canada and Puerto Rico. En Costa Rica, the Payless...

Costa Rica Marriott Hotels Has New Owners

The Grupo Cuestamoras announced the sale of three of its hotel properties in Costa Rica, the Marriott Los Suenos, in Playa Herradura, the Marriott Costa Rica, in Belen, Heredia, and the Hyatt Place San Jose, in Pinares de Curridabat. In the announcement, Cuestamoras said the...

TOTAL Sells It’s Gas Stations in Costa Rica To Panama’s Delta

The 19 TOTAL stations in Costa Rica owned by the French was purchased by Panama’s DELTA, who will now operate 52 gasoline stations across the country Q COSTA RICA – Panama’s Delta reports the purchase of Costa Rica’s Total gas stations. According to the information...

Central America, Colombia and The Needle Trade

Q BUSINESS – Two Colombian companies in the textile and apparel sector are expanding in Central America, with the expectation of some new 1,700 jobs, mostly in a Nicaraguan apparel operation, the result of a US$8 million investment by Cali-based Supertex. A subcontractor for sportswear...

U.S. Companies May Be Forced To Shut Down Costa Rica Call Centers

Clear Costa Rica Call Center Operations Q COSTA RICA – A bill in the U.S. Congress aims to force call centers from nations like Costa Rica to return to the United States, worrying employers and workers, according to CNN. The CNN Español report says the bill,...

GlaxoSmithKline Announces Relocation Of Costa Rica Manufacturing Plant

GlaxoSmithKline (GSK) services center in Costa Rica. Photo CINDE Q COSTA RICA – GlaxoSmithKline (GSK) will be moving from Costa Rica its manufacturing plant and 150 jobs to other plants in Latin America, confirmed the company Thursday afternoon. In a press release, the multinational indicated the...

You’re Fired! The Making Of An Entrepreneur

Q24N (Forbes.com) – It’s January 5th, 2009 the first trading day of the new year. I’m Co-Head of Investments at Ramius Capital, leading our team meeting getting everybody excited and prepared for 2009 (following the global financial meltdown of 2008). My boss’s assistant hands...

PriceSmart Announces New Store Location For Costa Rica, To Be Built In Santa Ana

Q BUSINESS – PriceSmart, the U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean, is growing in Costa Rica, announcing its seventh store will be Santa Ana. Details at this time are few. According to a report by Marketwatch.com, the company acquired a...

Milk and Dairy War Heats Up In Costa Rica

Q BUSINESS – The largest dairy in Latin America, in a strategic agreement (alliance) with Florida Ice and Farm (Fifco), aims to break Costa Rica’s diary monopoly held by Dos Pinos. Mexico’s Grupo Lala and Costa Rica’s Fifco, who entered the milk market with the...

Smith & Nephew Invests $55 Million in Costa Rica In New Advanced Medical Technology Manufacturing Plant

Image for illustrative purposes (QBUSINESS) The British company Smith & Nephew, the global medical equipment company, recently inaugurated the expansion of its Coyol operation, adding 250 new jobs. The company says it invested US$55 million dollars in its new manufacturing facility for sports medicine orthopedic devices. The...

Is Costa Rica Office Market Nearing Saturation?

Vacancy rate in office space is above the 10% threshold for defining market saturation (QCOSTARICA) With a 10% plus vacancy rate, the threshold for defining market saturation, experts are expressing concern, as real estate funds are finding greater opportunities in commercial and industrial projects, while...

Costa Rica’s 4G Market Share To Hit 23% In 2020

(QCOSTRARICA) According to a recent study,  the 4G market share in Costa Rica is expected to reach 23% of the mobile market in 2020, up from the current 5%. Pyramid Research says penetration of 4G is expected to reach 1.89 million subscriptions, up from 420,000,...

Costa Rica Increases Cocoa Cultivation

Foreigners lending a helping hand to shuck cocoa in a small farm located in Matastal (south of Puriscal) Costa Rica. Photo by Rico (QCOSTARICA) In order to take advantage of the growing global demand for cocoa (cacao in Spanish) and fine chocolates, in the last...

The Convenience of Convenience Stores in Costa Rica

Fresh Market in La Ribera de Belen, Heredia (QCOSTARICA) Why head to the supermarket when you can get most of everything you need at a nearby convenience store. In the last five years, names like Fresh Market, AM PM, Circle K, Dia Express, Proximart, Super...

Doughuts, Donuts or Donas, Krispy Kreme to Open in Costa Rica

(QCostarica) The wave of American fast food franchises continues in Costa Rica, the latest to announce its arrival is Krispy Kreme Doughuts. Is it doughnuts, donuts or donas, what they care calle din Costa Rica. In a press release on Tuesday, Krispy Kreme Doughnuts announced a...

Doughuts, Donuts or Donas, Krispy Kreme to Open in Costa Rica

(QCostarica) The wave of American fast food franchises continues in Costa Rica, the latest to announce its arrival is Krispy Kreme Doughuts. Is it doughnuts, donuts or donas, what they care calle din Costa Rica. In a press release on Tuesday, Krispy Kreme Doughnuts announced a...

Costa Rica Looking For A Fourth Cellular Operator

Currently there are three cellular phone operators in the country: Kolbi (state company ICE), Claro (Mexico’s America Movil) and Movistar (Spain’s Telefonica) (QCostarica) Costa Rica’s Superintendencia de Telecomunicaciones (Sutel) – Superintendency of Telecommunications – has published the bidding conditions for the forthcoming auction of 70MHz...

Milk War Over. Nicaragua Resumes Milk Exports To Costa Rica

Costa Rica and Nicaragua resume import/export of milk and dairy products. (QCostarica) After weeks of negotiations finally the Costa Rica authorities opened its border to Nicaraguan dairy products of Grupo Lala and Eskimo brands. The decision was conditional upon a reciprocal action from Nicaragua to...

Ferry Between Costa Rica and El Salvador Remains Anchored In Red Tape

Photo from Baja Ferries Facebook page (QCostarica) A year after the announcement, the project to establish a ferry between El Salvador and Costa Rica for the transfer of cargo and passengers, that was to have this past Thursday (July 28), remains on paper. Baja Ferries says...

US$56 Million in Residential Projects

Torre 40 is one the announced developments that is expected to change San Jose’s skyline, as Costa Rica moves from horizontal construction to vertical Vertical and horizontal residential condominiums in the provinces of San José, Heredia and Cartago are some of the projects for which...

Costa Rica: Reaching For The Skies

For now we only have a shot from above of where the tallest building in the region will be located. Sabana Capital will be built next to the ICE building across from the Sabana park. (QCostarica) Construction will start soon on the tallest building in...

Tire Imports and Exports in Central America

(Q24N) In 2015 countries in the region imported 130,650 tons of new pneumatic tires, worth US$469 million, while Costa Rica exported 30,626 tons. Data on the Pneumatic Tires Market in Central America, provided by the Business Intelligence unit at CentralAmericaData.com, shows that Guatemala led imports...

Tire Imports and Exports in Central America

(Q24N) In 2015 countries in the region imported 130,650 tons of new pneumatic tires, worth US$469 million, while Costa Rica exported 30,626 tons. Data on the Pneumatic Tires Market in Central America, provided by the Business Intelligence unit at CentralAmericaData.com, shows that Guatemala led imports...

Costa Rica: Organic vs. Conventional Pineapple

The conflict between producers may affect pineapple exports to the United States, which receives 52% of total sales. This sector generated US$805 million in foreign exchange in 2015, according to PROCOMER. Pineapple producers in Costa Rica remain at odds after a group denounced an exporter...

Costa Rica’s Banana and Pineapple Producers Thinking of Leaving

Costa Rica’s banana and pineapple producers are exploring leaving the country for cheaper production destinations such as Colombia, says the Camara de Exportadores –  the Chamber of Exporters – (Cadexco). The companies, all internationals, feel Costa Rica has become too expensive relative to other economies. “We...

United And Delta Possible Avianca Suitors

Avianca offers multiple daily flights to and from the San Jose, Costa Rica airport to more than 100 destinations in 26 countries QCOSTARICA – United and Delta are evaluating the possible purchase of Avianca, as the Latin American airline explores strategic options for a full...

Costa Rica Tops In Central America For Online Shopping

80% of consumers in Costa Rica say they prefer to see and touch the product in stores before buying QCOSTARICA – While a small percentage in Costa Rica make only purchases, estimated around 12%, it is the country in the region with the most online...

Great Places To Work In Latin America

Photo Bloomberg QCOSTARICA – Cisco, the information technology company, is tops among the best 25 multinational companies to work for in Latin America, with 1,710 employees in Costa Rica, Mexico, Brazil and Chile. The information was released in a Latin America ranking by Great Place To...

Why Is President Solis in London?

President Luis Guillermo Solis is in London this week to promote investment in Costa Rica. Photo Casa Presidencial QCOSTARICA – London is the third most important destination of Costa Rican exports to Europe. For that President Luis Guillermo Solis arrived there on Monday, where he...

Burger King Restaurants Will Soon Reappear in Costa Rica

Burger King restaurants will soon reappear in Costa Rica. QCOSTARICA – The Burger King brand will soon return to Costa Rica, reports La Republica, confirming confidential sources that the new business group acquiring the brand has recalled some employees of the previous operator that closed...

Multinationals Boost Costa Rica Brands

The Costa Rica brand “Pops” is now part of the Colombian food conglomorate Grupo Nutresa. QCOSTARICA – Being part of a large multinational chain can be beneficial to national brands, giving them exposure to foreign markets. The now “internationalized” brands born in Costa Rica are Lizano,...

Costa Rica Is Tops … In Bureaucracy

Despite its financial constraints, Costa Rica is one of the countries in the world, dedicating more resources to support the public sector. QCOSTARICA – Despite its financial constraints, Costa Rica is one of the countries in the world, dedicating more resources to support the public...