Many of you know that the cost of living in Costa Rica has gone up a lot in the past few years. One of the reasons is that The Costarican government decided to stop with the mini-devaluations in 2006 and move over to a system of exchange rate bands that has kept the Colon on the same value since then.
Exporters are suffering with the bad exchange rate but more and more companies for the US and other parts of the world are still getting installed in Costa Rica, even though the social security system in Costa Rica is expensive and adds onto the labor cost and operating cost of a business.
Procomer, the Costarican entity for commerce promotion, publishes that Costa Rica has 4.6 million people, with 4,600 products exported to 150 countries. In 2014, we exported $11,304 billion in goods, $6,341 billion in services by 2441 exporting companies. It is also true that quite a few Costarican industries have moved to Nicaragua because labor is cheaper there.
Is it true that everything is Costa Rica is more expensive than elsewhere? Why are foreign industries moving to Costa Rica and local Industries moving elsewhere? Is life for a retiree or expat better elsewhere? Should you stay or leave Costa Rica and go back where you came from?