Costa Rica Coffee Guide

Business Owners Stay Optimistic

February 15, 2008

Costa Rican business owners are overwhelmingly positive about the economy, according to the latest quarterly survey released by the Union of Private-Sector Chambers and Associations (UCCAEP).

The survey, which asked the opinions of more than 400 business owners, found 94% predicting the economy will either continue its strong growth or grow even faster in the coming quarter.

UCCAEP conducted the survey in the first weeks of January, before the Central Bank released a pessimistic assessment of  the Costa Rican economy that predicted growth would slow in 2008 to 4.8% from last year’s 6.8%.

Still, the indices released by UCCAEP – the business owner perception index and the business owner confidence index – reflect the highest opinion of the country’s economy since the Union began conducting the survey a decade ago.

The survey found perception of the last quarter averaging 7.18 on a scale of one to 10 (where 10 was best), a number that represents an 11% jump over the previous quarter.

Likewise, the perception of the future of the economy was at 7.8, also a record.

Notably, however, the tourism and export sectors of the economy, while feeling positive, are less so than other sectors. In addition, UCCAEP Vice President Jaime Molina said an acute labor shortage continues to dog the country’s economy.

He called for both better government training and education programs and immigration reform that would allow Costa Rican employers easier access to foreign work forces.

“The thing with labor is that it runs out,” he said, pointing to the country’s historically low 4.6% unemployment rate.

 

You may be interested

Costa Rica approves law punishing street sexual harassment with jail and fines
Costa Rica
5803 views
Costa Rica
5803 views

Costa Rica approves law punishing street sexual harassment with jail and fines

AFP and The Tico Times - July 14, 2020

Costa Rica's Legislative Assembly on Tuesday passed a law that criminalizes street sexual harassment and punishes it with prison terms…

Costa Rica coronavirus updates for July 14, 2020
Costa Rica
21356 views
Costa Rica
21356 views

Costa Rica coronavirus updates for July 14, 2020

Alejandro Zúñiga - July 14, 2020

Costa Rica confirmed 446 new cases of the coronavirus over the past day, totaling 8,482 cumulative known cases, the Health…

Panama hospitals on verge of collapse as virus cases surge
Latin America
1217 views
Latin America
1217 views

Panama hospitals on verge of collapse as virus cases surge

Juan José Rodríguez / AFP - July 14, 2020

Hospitals in Panama are on the brink of collapse as coronavirus cases spike in the Central American country worst hit…