Costa Rica falls seven spots in Global Competitiveness Index
Costa Rica fell seven spots to 62nd in the latest Global Competitiveness Index rankings, which were released by the World Economic Forum this week.
The index considers such factors such as infrastructure, macroeconomic stability, business dynamism and innovation capability, according to the report.
Costa Rica scored highest in health, where it ranks 25th worldwide as a result of Ticos’ high life expectancy.
The country also improved in the categories of infrastructure, information and communication technology (ICT) adoption, macroeconomic stability, financial system, market size, business dynamism and entrepreneurial culture.
But Costa Rica’s overall ranking fell due in part to its high homicide rate (124th out of 141 countries) and more direct economic barriers such as high administrative requirements (107th overall), which considers the amount of time it takes to start a business.
Costa Rica now ranks fifth in Latin America and the Caribbean, behind Chile (33rd overall), Mexico (48th), Uruguay (54th) and Colombia (57th).
Singapore overtook the United States for the top overall spot in this year’s report.
You may be interested
Mike Pompeo advises Costa Rica about economic ties with ChinaAlejandro Zúñiga - January 22, 2020
During a press conference following Tuesday's meeting with President Carlos Alvarado, U.S. Secretary of State Mike Pompeo urged Costa Rica…
The best resorts in Costa Rica with a wide variety of animalsJessica Vainer - January 22, 2020
Costa Rica — explored by Columbus — literally translates to “The Rich Coast.” Costa Rica is one of the most…
President Alvarado asks U.S. Secretary of State to review Costa Rica travel advisory, FAA certificationAlejandro Zúñiga - January 21, 2020
President Carlos Alvarado asked U.S. Secretary of State Mike Pompeo on Tuesday to review the North American country's travel advisory…