Costa Rica: Accelerating Growth in the Global Service Sector
Costa Rica has been making remarkable strides in enhancing its presence in the global service economy, emerging as one of the fastest-growing markets for service exports in the Americas. Recent studies by the Trade Investment Promotion Agency of Costa Rica (PROCOMER) reveal that the country’s service exports reached approximately $16.1 billion in 2024, accounting for 17% of the Gross Domestic Product (GDP) with an average annual growth rate of 8% over the past five years.
As a testament to its economic prowess, three out of every four dollars generated in Costa Rica's economy comes from the service sector. This transformative shift positions Costa Rica as a competitive model that seamlessly incorporates innovation, institutional stability, and a well-educated workforce. Notably, services now represent 45% of all exports, a stark contrast to the 35% share when excluding tourism. The diversity of service exports ranges from corporate solutions and digital services to information technologies, cybersecurity, analytics, and other knowledge-intensive activities.
Laura López, CEO of PROCOMER, remarked, “The performance of the service sector is not an isolated result, but rather it reflects a country that has successfully transitioned towards activities where knowledge, creativity, and technology add tangible value for companies while providing opportunities for our population.” This strategic movement showcases Costa Rica as a partner for global enterprises seeking talent, stability, and an ecosystem that fosters innovation.
In 2024, the corporate services domain stood as the largest component of service exports, totaling $6.7 billion and comprising 42% of the aggregate. Following closely were tourism (34%) and Information and Communication Technology (ICT) services (15%), which reached $2.4 billion. Knowledge-intensive activities were pivotal, constituting 58% of total service exports and reflecting an impressive average growth rate of 10% in the last five years. This indicates the maturity of Costa Rica's specialized service ecosystem, which is not reliant on a single segment but instead thrives on a diversified portfolio catering to global demands for business processes and technical expertise.
Moreover, substantial foreign direct investments have recently flowed into service-related activities, with Costa Rica's Free Trade Zone regime playing a crucial role as a hub for the establishment and expansion of global companies. As of 2024, approximately 420 service companies operated under this regime, illustrating sustained growth trends. Confirming this ongoing momentum, performance data for the sector's first half of 2025 indicated a 5.4% increase in service exports, totaling $8.7 billion. Exports excluding travel grew by 2.6%, amounting to $5.6 billion. The surge was mainly driven by corporate services, digital solutions in computer and telecommunications, transformation services, and financial services.
The balance within the sector remains robust, with corporate services accounting for 40% and computer and telecommunications services comprising 15%, further underscoring the complexity of Costa Rica's service portfolio. Additionally, it is noteworthy that six out of ten jobs within the Free Trade Zone regime derive from the service sector, amounting to nearly 120,000 direct positions, with women representing 43% of the workforce. This aligns closely with gender equality objectives, as indicated by 2024 statistics.
International indicators continue to showcase Costa Rica’s strengths in this sector: ranking first per capita in North and South America for corporate services exports and second for ICT services. Overall, Costa Rica stands as the second-largest service exporter per capita in Latin America, is first for ICT services exports, and ranks first for the adoption of new technologies in the region.
These metrics further affirm the resilience of Costa Rica's service ecosystem, which embraces diversification, adaptability, and a firm alignment with global trends such as digitalization, automation, and advanced business services. With over 350 multinational service companies active within its borders, Costa Rica is persisting in deepening its integration into global value chains and solidifying its reputation as a reliable environment for companies aiming to expand high-value activities.
As a testament to its economic prowess, three out of every four dollars generated in Costa Rica's economy comes from the service sector. This transformative shift positions Costa Rica as a competitive model that seamlessly incorporates innovation, institutional stability, and a well-educated workforce. Notably, services now represent 45% of all exports, a stark contrast to the 35% share when excluding tourism. The diversity of service exports ranges from corporate solutions and digital services to information technologies, cybersecurity, analytics, and other knowledge-intensive activities.
Laura López, CEO of PROCOMER, remarked, “The performance of the service sector is not an isolated result, but rather it reflects a country that has successfully transitioned towards activities where knowledge, creativity, and technology add tangible value for companies while providing opportunities for our population.” This strategic movement showcases Costa Rica as a partner for global enterprises seeking talent, stability, and an ecosystem that fosters innovation.
In 2024, the corporate services domain stood as the largest component of service exports, totaling $6.7 billion and comprising 42% of the aggregate. Following closely were tourism (34%) and Information and Communication Technology (ICT) services (15%), which reached $2.4 billion. Knowledge-intensive activities were pivotal, constituting 58% of total service exports and reflecting an impressive average growth rate of 10% in the last five years. This indicates the maturity of Costa Rica's specialized service ecosystem, which is not reliant on a single segment but instead thrives on a diversified portfolio catering to global demands for business processes and technical expertise.
Moreover, substantial foreign direct investments have recently flowed into service-related activities, with Costa Rica's Free Trade Zone regime playing a crucial role as a hub for the establishment and expansion of global companies. As of 2024, approximately 420 service companies operated under this regime, illustrating sustained growth trends. Confirming this ongoing momentum, performance data for the sector's first half of 2025 indicated a 5.4% increase in service exports, totaling $8.7 billion. Exports excluding travel grew by 2.6%, amounting to $5.6 billion. The surge was mainly driven by corporate services, digital solutions in computer and telecommunications, transformation services, and financial services.
The balance within the sector remains robust, with corporate services accounting for 40% and computer and telecommunications services comprising 15%, further underscoring the complexity of Costa Rica's service portfolio. Additionally, it is noteworthy that six out of ten jobs within the Free Trade Zone regime derive from the service sector, amounting to nearly 120,000 direct positions, with women representing 43% of the workforce. This aligns closely with gender equality objectives, as indicated by 2024 statistics.
International indicators continue to showcase Costa Rica’s strengths in this sector: ranking first per capita in North and South America for corporate services exports and second for ICT services. Overall, Costa Rica stands as the second-largest service exporter per capita in Latin America, is first for ICT services exports, and ranks first for the adoption of new technologies in the region.
These metrics further affirm the resilience of Costa Rica's service ecosystem, which embraces diversification, adaptability, and a firm alignment with global trends such as digitalization, automation, and advanced business services. With over 350 multinational service companies active within its borders, Costa Rica is persisting in deepening its integration into global value chains and solidifying its reputation as a reliable environment for companies aiming to expand high-value activities.
Topics Business Technology）
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