No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeArchiveCosta Rican companies expect to increase production, not jobs

Costa Rican companies expect to increase production, not jobs

A study released Monday by the Costa Rican Chamber of Industries of 200 local firms found that 65.7 percent expect to increase production in 2013, while only 6.3 percent expect to produce less.

Despite the optimistic outlooks, the study shows a decrease in job creation compared to the previous year. The results indicate that 60.7 percent expect to maintain their payroll as is, while 28.3 percent plan to increase it and 6.3 percent are considering layoffs.

Regarding investment plans for this year, 56 percent of companies responded that they planned to invest, but most will spend on machinery and equipment for less than $100,000.

The country’s largest firms are less positive, and factors they say will affect competitiveness include electricity costs, exchange rate instability, high employee benefits costs and competition from informal companies. They also cited excessive bureaucracy, poor access to bank credit and high raw material costs.

Regarding 2012, 75 percent of companies surveyed thought it was a “relatively good” year, while the remaining 25 percent considered it a modest year.

Trending Now

Costa Rican Hotels Warn of Job Risks Amid Drop in Tourists

Hotels across Costa Rica face mounting pressures as tourist numbers dip and a sluggish dollar exchange rate eats into their earnings. From January to...

Costa Rica Faces a Must-Win for a Place in 2026 World Cup

Costa Rica's national soccer team faces a defining stretch in their bid to reach the 2026 World Cup. With just two points from their...

Cost of living in Costa Rica from a U.S. Expat

Paradise doesn’t come cheap. Cars, gas, appliances, phones, TVs often cost more in Costa Rica. But not everything. Here’s a simple, like-for-like look at...

Guatemala Joins Costa Rica and Ecuador in Building Anti-Gang Prisons

The Guatemalan government has put forward a new bill aimed at hitting gangs harder, with steeper sentences and a dedicated high-security prison, as the...

New Poison Dart Frog Species Discovered in Peru’s Amazon

Peruvian researchers have identified a new poison dart frog in the Amazon rainforest, adding to the region's rich array of wildlife. The tiny creature,...

Costa Rica’s Nayara Springs Named Among World’s Best Hotels by MICHELIN

Nayara Springs, a secluded adults-only resort near Arenal Volcano National Park, has claimed the highest spot in the MICHELIN Guide's new hotel rankings. The...
L. Arias
L. Arias
Reporter | The Tico Times |
spot_img
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica