UPS survey: Costa Rica execs see bright side of gloomy economy
More than half of Costa Rican small and medium-sized enterprises (SMEs) remain optimistic about growth in spite of the global economic downturn and reports of slow recovery, a new survey suggests.
According to U.S. delivery company UPS´s Business Monitor Latin America (BMLA) released this week in Miami, more than half (51 percent) of Tico executives surveyed projected economic progress for their companies over the course of the next 12 months. The region´s overall percentage was 47 percent – a considerable drop from last year´s 84 percent.
Higher still were expectations of SME leaders in countries such as Colombia (62 percent), Brazil (54 percent) and the Dominican Republic (54 percent).
Fifty-one percent predict an uptick in global trade.
“The results from the latest BMLA study demonstrate that although Latin American SMEs are enduring a difficult business climate, they are looking forward to continued growth down the line,” said Stephen Flowers, UPS Americas President, according to newswire EFE.
The BMLA surveyed more than 900 leading SME executives in eight Latin American countries.
However, a more sober projection came about in relation to the impact of the United States´ volatile economy: 69 percent said trouble up north will have a negative impact on their business this year, while 61 percent don´t foresee the U.S. economy improving before 2010.
You may be interested
Pic of the Day: Costa Rica’s Isla Nublar (aka Cocos Island)Alejandro Zúñiga - April 18, 2019
Isla Nublar, the setting for much of the "Jurassic Park" series, is unfortunately not a real Costa Rican island. Cocos…
Costa Rica holds Maduro regime responsible for diplomat’s safetyAFP and The Tico Times - April 18, 2019
The Costa Rican Foreign Ministry said on Wednesday that it places responsibility with the Venezuelan government of Nicolás Maduro for…
Venezuela withdraws diplomatic credential from Costa Rican diplomatAFP and The Tico Times - April 17, 2019
Venezuela withdrew the diplomatic credential from the Costa Rican chargé d'affaires on Tuesday in retaliation for the country’s acceptance of…