#San Jose #Costa Rica #PROCOMER #Service Exports

Costa Rica’s Rising Star in Global Services

A Dynamic Market

Costa Rica has positioned itself as one of the leading markets for service exports in the Americas. With a robust economy largely reliant on knowledge, talent, and high-value solutions, the country has seen significant advancements in its service sector. A study by the Promotora del Comercio Exterior de Costa Rica (PROCOMER) revealed that service exports reached an impressive $16.114 billion in 2024, constituting 17% of the nation’s GDP and showcasing an average annual growth rate of 8% over the last five years.

Economic Structure

In an economy where approximately three out of four dollars of the GDP are derived from the service sector, Costa Rica has evolved into a competitive model characterized by innovation, institutional stability, and a highly skilled workforce. Currently, services account for 45% of total exports, or 35% when excluding tourism, encompassing corporate solutions, digital services, information technology, cybersecurity, analytics, and knowledge-intensive activities.

According to Laura López, General Manager of PROCOMER, "The performance of the service sector is not an isolated outcome; it showcases a country that has successfully transitioned to activities where knowledge, creativity, and technology create real value for businesses and opportunities for our people."

Key Components of Service Exports

In 2024, business services emerged as the largest segment, generating $6.698 billion, representing 42% of service exports, followed closely by tourism at 34% and information and communication technology (ICT) services at 15%, which totaled $2.388 billion. Collectively, knowledge-intensive activities constituted 58% of total exports, reflecting the maturity of Costa Rica’s specialized service ecosystem, with an average annual growth rate of 10% over the past five years. This diversification underscores the nation’s ability to cater to global demands for specialized processes and technical talent.

Foreign Investment and Employment

The data also highlights that a sizable portion of recent foreign direct investment is directed towards service activities, with the Free Zone Regime serving as a crucial platform for the establishment and expansion of global companies. In 2024, 420 service companies operated under this regime, witnessing sustained growth in recent years.

The latest analysis of sector performance for the first half of 2025 confirms ongoing growth. During this period, service exports increased by 5.4%, reaching $8.692 billion. Excluding travel services, revenues grew by 2.6%, totaling $5.605 billion. This growth was primarily driven by the dynamism in business services (up by $143 million) and digital solutions, including IT and telecommunications (up by $76 million), alongside transformation services (+$29 million) and financial services (+$23 million).

Employment Impact

Six out of ten jobs in Free Zones are attributed to the services sector, culminating in 119,982 direct jobs, with women making up 43% of the workforce. This indicates both specialized formal employment generation and a focus on gender equity.

According to various international indicators, Costa Rica stands out as the number one per capita exporter of business services in the Americas and ranks second in TIC services. It is also noted as the second-largest per capita exporter of services in Latin America and leads in TIC service exports in the region. Costa Rica ranks #1 in adopting and investing in emerging technologies in Central America, revealing the strength of its service ecosystem, which emphasizes diversification, adaptability, and alignment with global trends such as digitization, automation, and advanced corporate services.

With over 350 multinationals operating in Costa Rica, the nation is reinforcing its role as a reliable environment for businesses looking to scale high-value operations, further integrating into global value chains and enhancing its strategic position in the global services market.