Costa Rica was the world’s best-performing country relative to its size in attracting foreign direct investment (FDI), according to analysis from fDi Intelligence.
The country is “attracting 11 times the amount of greenfield FDI that might be expected given the size of its economy,” the report reads, placing Costa Rica atop the global rankings. Lithuania and the UAE rounded out the top three.
Greenfield FDI refers to the investment that occurs when a parent company opens a subsidiary in another nation.
While Costa Rica secured less foreign investment in 2020 than in 2019, the 96 projects it attracted represented an excellent result in context of the pandemic.
“The country has come a long way since being an exporter of agriculture commodities decades ago; in 2020, medical devices, software and IT and business service sectors accounting for 60% of its inward FDI projects,” the report reads.
fDi Intelligence highlighted the investment commitment from Intel; the tech company will soon assemble and test microchips in Costa Rica.
“This is a reflection of the constant work […] to be an attractive space for foreign investment,” President Carlos Alvarado said in response to the fDi Intelligence report. “We continue pushing ahead.”
Panama, Colombia and Chile were the other top performers from Latin America, and all 11 countries analyzed in the region scored above expectations.