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Costa Rica shows rapid growth in new technology

This Central American country has become a strategic location for international companies to develop new forms of information technology.

The data provided by the International Monetary Fund on the economy of Costa Rica reflects strength and growth. This small Central American country has seen its economy rise this year by 4.8%, one point more than speculated in January this year, and it is expected to also rise in 2013, by 4.3%.

The GDP of this nation of approximately 4 million people continues to grow despite the economic crisis affecting the whole world.  The Costa Rican socioeconomic system has been driven by increased private investment and exports.

Many companies dedicated to technological innovation in the field of computing have set up in San Jose, the country’s capital. This has also been reflected in other countries such as Chile, Argentina and Brazil, according to a book written by versa Ciravegna Luciano (Royal Holloway, University of London).

Titled “Promoting Silicon Valleys in Latin America: Lessons from Costa Rica”, this book is trying to make an analysis of this great situation prevailing in a region that has always been known mainly for its exports of coffee bean and environmental richness. It is now home to major research centres.

The book is titled after the name of one of the regions of California that has experienced the boom of these types of companies: the Silicon Valley region has seen multinationals like Oracle, IFM and Amazon, all which have opened their offices there.

The reasons these businesses have chosen Costa Rica have been the skilled workforce and proximity to the United States.

The release of the book by Luciano Ciravegna is to be held at UCL-Institute of the Americas, London on 13th February.

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(Translated by Amanda Flanaghan – Email:

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