Costa Rica, known for its economic stability in Central America, owes this reputation to its focus on eco-tourism, which preserves the environment and supports local communities. Eco-tourism is a platform for private and local companies to promote their products, adding value to the country’s tourism industry (Irazabal, 2018). Costa Rica lies in the contributions of immigrant communities, mainly the West Indians and the Chinese in Limon. Establishing businesses that enriched the country’s economic diversity, fostering unique communities, and shaping the province’s social and economic landscape (Narváz, 2021). Additionally, Costa Rica maintains high educational standards, overseen by the accreditation system, that ensures quality and excellence in academic programs (Torres-Salas et al., 2018). Costa Rica has established a solid economic stability that plays a vital role in its development and is an attractive destination for tourists and investors.
Costa Rica’s economic favorable exchange rate, where $1 US dollar equals approximately 500 Costa Rican colón, allows the U.S. currency to stretch further within the country. The economy’s growth rate surpasses regional averages at 4.3% compared to Latin America and Central America’s 3.6%, partly due to the business opportunities and open land in Costa Rica (Chavez, 2023). With the massive difference in the exchange rate, they would not have to spend too much money, but income would increase if they planned on bringing the goods back to the U.S. With the proximity between the U.S. and Costa Rica, the highly educated and bilingual talent of the Costa Rican people and its political stability (Bruns, 2023). Costa Rica’s solid economic stability, driven by eco-tourism, immigrant contributions, education, and favorable exchange rate, entices visitors.
