Costa Rica's Services Sector Emerges as a Powerhouse in Global Economy
Costa Rica's Services Sector Emerges as a Powerhouse in Global Economy
Costa Rica has made remarkable strides in establishing itself as a vital player in the global services economy. Recent findings from the Export Dynamism of Costa Rica's Services Sector report, prepared by the Costa Rican Agency for the Promotion of Trade and Investment (PROCOMER), illustrate the country's rapid growth in service exports. In 2024, the service exports reached a staggering $16.114 billion, accounting for 17% of the country’s GDP and featuring an impressive annual growth rate of 8% over the last five years.
As Costa Rica's economy heavily relies on the services sector— generating three out of four dollars in GDP—the nation has effectively transitioned into a competitive model defined by innovation, institutional stability, and a talented workforce. Today, services represent 45% of the total exports, which ascend to 35% when excluding tourism. These exports encompass a broad range of offerings including business solutions, digital services, information technology, cybersecurity, analytics, and other knowledge-intensive activities.
Laura López, the General Director of PROCOMER, emphasizes that the successes of the services sector mirror Costa Rica’s successful pivot towards fields where knowledge, creativity, and technology jointly create tangible value for businesses and generate opportunities for citizens. "Costa Rica stands as a strategic partner for international companies in search of talent, stability, and an environment conducive to innovation. Our aim is to further develop this potential and support more businesses that view Costa Rica as an achievable space for growth and impact,” López articulates.
In 2024, business services held the position of the largest component of service exports at $6.698 billion, making up 42% of the overall services. Following closely were tourism at 34%, and information and communication technology (ICT) services at 15%, amounting to $2.388 billion in exports. Notably, knowledge-intensive activities represented 58% of total service exports, showcasing a robust growth rate of 10% annually over the last five years, indicating the maturation of Costa Rica’s specialized services ecosystem.
The data also pinpoints how diversified the services sector is, responding adeptly to global demand for business processes, skilled technical talent, and technological solutions. A significant portion of recent foreign direct investments has been directed toward service activities, with the Free Trade Zone Regime serving as a crucial platform for the establishment and development of international businesses. In 2024, around 420 service enterprises operated under this regime, highlighting the sustained growth over the years.
New reports from the first half of 2025 confirm ongoing growth, with service exports soaring by 5.4% to reach $8.692 billion, while non-travel exports increased by 2.6% to account for $5.605 billion. This growth can be primarily attributed to business services (+143 million USD) and digital solutions within the ICT sector (+76 million USD), among others. The sector's framework remains balanced, with business services comprising 40% and ICT serving 15% of total services, thus reaffirming Costa Rica's sophisticated service portfolio.
Additionally, 60% of jobs related to the Free Trade Zone regimeare within the services sector, totalling 119,982 direct positions, with women representing 43% of these roles. Data from 2024 reflects the sector’s contribution to generating formal specialized employment and achieving gender parity goals.
Costa Rica secures top positions on several international indicators:
- - #1 per capita in the Americas for business service exports
- - #2 for ICT services
- - #2 in Latin America for overall service exports
- - #1 in Latin America for ICT service exports
- - #1 in the region for emerging technology adoption and investment
These indicators affirm the resilience of Costa Rica’s service ecosystem, characterized by diversification, adaptability, and a focused approach toward global trends like digitization, automation, and advanced business services. With over 350 multinationals specializing in services operating within its borders, Costa Rica continues to deepen its integration into global value chains, solidifying its status as a reliable environment for businesses aiming to expand and elevate their operations.
Topics General Business）
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