How Costa Rica is Rapidly Advancing in the Global Services Industry

Costa Rica's Rising Profile in the Services Sector

Overview

Costa Rica is becoming one of the most vibrant markets for services exports in the Americas. In 2024, the country's services exports surged to USD 16.114 billion, making up 17% of the GDP and showcasing an annual growth rate of 8% over the last five years. The impressive figures reflect a robust transformation towards a knowledge-centered economic model, highlighting the strategic importance of the services sector which caters to a growing global demand for technological and corporate solutions.

Economic Structure

In Costa Rica, approximately three out of every four dollars of GDP are generated from services. This competitive shift has allowed the country to merge innovation, institutional stability, and a specialized workforce effectively. Presently, services account for 45% of the nation’s total exports, a figure that rises to 35% when disregarding tourism. The types of services exported include corporate solutions, digital offerings, and advanced information technologies.

Laura López, the CEO of PROCOMER, articulated this momentum, stating, "The service sector's performance reflects Costa Rica's effective transition towards activities that emphasize knowledge, creativity, and technology. Our positioning as a strategic partner for global operations seeking talent and stability is becoming increasingly recognized."

Sector Composition

The latest data indicate that business services comprise the most significant portion of service exports, totaling USD 6.698 billion and representing 42% of the overall figure. This is closely followed by tourism services at 34% and information and communication technology (ICT) services at 15%, which in 2024 contributed USD 2.388 billion. Knowledge-intensive activities dominate the landscape, symbolizing 58% of total service exports and growing at an impressive 10% annually.

The study further reveals that an increasing volume of foreign direct investment is channeled into service-related fields, with 420 companies operating under the Free Trade Zone Regime, fostering a conducive environment for global businesses.

Continued Growth

As the year 2025 progresses, the upward trend remains assured as demonstrated by the initial half-year statistics. The services exports for the first six months in 2025 rose by 5.4%, amounting to USD 8.692 billion, while exports excluding travel saw a 2.6% increase to USD 5.605 billion. Major contributors to this growth include business services, computing and telecommunications, transformation services, and the financial sector, illustrating the balance within Costa Rica’s diverse service offerings.

Notably, the Free Trade Zone Regime provides substantial employment, where 60% of jobs correspond to the services sector—marking a total of 119,982 direct positions, 43% of which are filled by women. This expansion promotes specialized formal employment, aligning with gender equity objectives.

Global Rankings

International studies rank Costa Rica highly in various aspects related to its services sector:
1. #1 per capita in the Americas for business services exports.
2. #2 in ICT services across Latin America.
3. #1 for adoption of emerging technologies in the region.
These statistics underline the adaptability and progressive nature of Costa Rica’s services ecosystem, prioritizing digitalization and advanced corporate services.

With over 350 multinational companies operating within the country, it continues to fortify its position in international supply chains, offering a stable and reliable environment for businesses aiming to enhance their high-value operations. Costa Rica stands as a prime example of how a nation can cultivate a thriving services economy through skilled labor, technological advancement, and a commitment to innovation.